LINK trades above the 0.618 Fibonacci level, confirming bullish structure since mid-2025 with higher lows and channel support.
A double-bottom breakout above $15.39 signals continuation, with $31.00 as the next key resistance level from July’s rally.
Weekly structure points to $42.50 upside if LINK breaks $20.00, supported by long-term accumulation and rising trendline confluence.
Chainlink (LINK) is maintaining its bullish structure above key support zones, with rising momentum suggesting further upside. Price structure and market psychology align as traders now eye a move above $42.
Bullish Channel Structure Signals Higher Highs
Price recently bounced off this level and moved toward $20.186, which aligns with the 0.786 Fib zone. The chart outlines a parallel rising channel that LINK has respected for over a year.
Ali’s analysis projects resistance checkpoints at $20.186, $26.500, and $30.244. A potential breakout beyond $34.500 could unlock a surge to $44.861, matching the 1.272 Fibonacci extension.
Further targets stretch toward $50.500 and $59.918. Meanwhile, downside risks include $15.089 and $12.299. A close below $10.025 could break the structure, exposing LINK to $7.78 or lower.
Double-Bottom Formation Points to $31 Target
Degen Hardy shared insights using a daily timeframe on MEXC. Hardy’s chart shows a clean double-bottom pattern between April and July. This structure completed a breakout at $15.39.
https://twitter.com/Degen_Hardy/status/1950853927995625654
Following the breakout, LINK rallied to $19.55 before pulling back. The correction held above $16, forming a higher low. This confirms a bullish continuation pattern.
Hardy believes a clean run toward $31 is likely if LINK stays above the $15.39 neckline. He notes a lack of price congestion between $19.55 and $31, opening room for a smooth climb.
The double-bottom base supports bullish sentiment, especially with strong historical accumulation around the $13–$15 range. The chart highlights this zone as the foundation for the next leg.
Weekly Breakout Aligns with U.S. Strategic Interest
Price broke above this base in late 2023, entering a rising channel. The first expansion wave hit $21 before retracing to $11. Since then, LINK has continued forming higher lows.
Smith’s chart highlights resistance between $17 and $20—an area that has rejected price several times. However, the current move shows strong trendline support and upward momentum.
A dotted parabola projects a rally to $42.50, which aligns with past market cycles and LINK’s long-term growth trajectory. The breakout could follow if $20 is reclaimed convincingly.
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