**Technical Indicators and Whale Accumulation Signal a Strong Setup for a Major Bullish Reversal**
**Long-Term Structure Signals a Major Breakout**
Analyst James Easton shared a long-term chart of Chainlink (LINK), highlighting a large symmetrical triangle formation that has been developing since 2020. This pattern reflects a tightening price range, bounded by an ascending support line and a descending resistance trendline.
Currently, Chainlink is trading near $15.44, positioned around the midpoint of this setup after bouncing off a key horizontal support zone between $12 and $13. Easton’s projection outlines a potential upward breakout, initially targeting the $30–$35 range, with the possibility of moving beyond $50 if the price manages to close above the long-term resistance trendline. The chart also suggests a minor pullback could occur before the breakout, potentially forming a retest of the upper channel boundary before continuing toward higher levels.
**Key Support Levels and Fibonacci Reversal Zone**
Another analyst, Ali, shared a detailed technical chart emphasizing that Chainlink has reached a crucial ascending support trendline, which has historically acted as a foundation for previous rallies. Ali’s analysis places the current trading zone around $14.70, aligning closely with the 0.618 Fibonacci retracement level—a region often associated with strong price reversals.
The outlined path anticipates a gradual price recovery through $16 and $20, leading to a retest of the $28 resistance zone. A decisive breakout above $28 could pave the way for the next major rally phase near $47, completing the upper trendline projection indicated in Ali’s model.
**Current Price Behavior and Market Outlook**
At press time, Chainlink is trading near $15.13, following a 3.91% daily decline. The short-term charts reveal that the price opened around $15.70 but faced consistent selling pressure that pushed it down toward the $15.00 region. Despite this decline, trading volume remains robust at approximately $649.7 million, showing active participation among traders and investors.
The token’s inability to hold above the $15.50–$15.60 range suggests that short-term traders are taking profits at local highs. A decisive move below $15.00 could open the door to the next support level near $14.70, while maintaining stability above this level may signal the start of a new consolidation range before recovery attempts resume.
**Broader Technical Context and Future Scenarios**
From a broader perspective, Chainlink maintains a market capitalization of $10.55 billion, placing it within the top twenty digital assets by value. On-chain data indicates that recent whale accumulation remains intact, supporting the view that current selling pressure is likely corrective rather than signaling a structural reversal.
If buying interest returns at established support levels, Chainlink could reclaim the $15.50–$16.00 range and potentially test $17 in the short term. The combination of long-term chart structures shared by Easton and Ali points toward a potential continuation of the broader uptrend.
Both analysts emphasize that sustained defense of the lower trendline could set the stage for a rally toward the $50 zone, marking a new phase of growth within Chainlink’s multi-year market cycle.
https://bitcoinethereumnews.com/tech/chainlink-analysts-predict-massive-breakout-as-link-eyes-50-rally-ahead/
