Tag: participation

The post Chainlink Analysts Predict Massive Breakout as LINK Eyes $50 Rally Ahead appeared com. Chainlink is consolidating near $15. 13 after testing key support zones highlighted by analysts James Easton and Ali. Both suggest LINK is nearing a breakout from a multi-year symmetrical triangle, with potential upside targets between $30 and $50. 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, showing a large symmetrical triangle formation that has been forming since 2020. The pattern reflects a tightening price range between an ascending support line and a descending resistance trendline. The asset is currently trading near $15. 44, positioned around the midpoint of this setup after rebounding from the key horizontal support zone between $12 and $13. His projection outlines a potential upward breakout, initially toward $30-$35, and potentially beyond $50, if the price manages to close above the long-term resistance trendline. The chart also suggests that a minor pullback could occur before the breakout, forming a retest of the upper channel boundary before a continuation to higher levels. Key Support Levels and Fibonacci Reversal Zone Analyst Ali shared a detailed technical chart showing that Chainlink has reached a crucial ascending support trendline, which has historically acted as a foundation for previous rallies. His analysis places its current trading zone around $14. 70, aligning with the 0. 618 Fibonacci retracement level, a region often associated with strong reversals in price cycles. The path outlined on his chart anticipates gradual price recovery through $16 and $20, leading to a retest.