🔥 Chainlink Price to $98? Analyst Confirms Bullish Breakout As $LINK Reserves Reach $1.4M
Analyst projects Chainlink could reach $98 if it breaks $21.6, with technical setups and reserve accumulation boosting bullish potential.
Chainlink has reached a critical stage as its price tightens in a long-term consolidation pattern. The market has demonstrated resilience amidst the volatility in recent times. Constant accumulation by the Chainlink Reserve is increasing pressure on the supply side. This consistent stacking may provide support to any breakout momentum that may come in the following weeks.
🔸 Analyst Projects Chainlink Price Is Gearing Up for a Major Surge
Chainlink could make a major swing in case it breaks the $24 resistance. The symmetrical triangle formation that has been forming since 2021 is in favor of a multi-leg breakout structure. The first target of his analysis is at $31.8, which is the 0.786 Fibonacci retracement.
In case this level is cleared, bulls may push the price to the level of $52.3. Historical data shows such setups usually unfold in measured stages, with consolidation between progressions. Therefore, a breach of $24 may become the catalyst for a long-term up-trend.
The outlook is supported by the fact that previous post-accumulation spikes in Chainlink have resulted in high percentage returns. Therefore, the combination of a mature chart pattern and a positive technical positioning support the bullish Chainlink price forecast currently forming up.
🔸 Is Stage Set for $98?
Conclusively, the symmetrical triangle breakout target by the analyst seems to be becoming more realistic. The consistent stacking is increasing scarcity of the LINK, setting the perfect environment for a rally. A breakout above $21.6 would likely trigger the projected path toward $31.8, $52.3, and ultimately $98. With both technical momentum and supply constraints aligning, the analyst’s bullish outlook holds strong merit and could unfold sooner than many expect.