Chainlink Breaks Out of Downtrend As Analysts Eye $150 Target

Chainlink shows renewed bullish momentum as analysts Don and Crypto Tony highlight breakout structures and key resistance levels around $16.20.

With LINK trading above $16 after a 5.35% daily gain, technical patterns suggest growing accumulation and potential upside toward $18–$20, supporting long-term bullish forecasts targeting $33 and even $150.

Chainlink Breaks Structure After Prolonged Downtrend

The top altcoin has broken out of a descending channel after months of compression, signaling renewed market activity. The token traded between two converging trendlines, forming a tight structure that limited price movement since August. The latest breakout near $15 marks a potential shift in direction, with buying activity increasing as the price exits the lower boundary of the channel.

Analyst Don shared a bullish chart setup showing the asset moving away from the bottom trendline of this formation. The setup displays a clear risk-reward framework, suggesting the potential for continuation if momentum persists above $15.

LINKUSD Chart | Source: X

The projection shows the token recovering after a steady decline, with technical indicators indicating the potential start of a reversal. Don’s outlook positions its recovery as the beginning of a longer-term move, possibly extending into higher ranges if price levels sustain above near-term support.

Analysts Forecast Continuation Toward $33 and Beyond

The short-term analysis from Don suggests that a move toward $33 could be possible if it clears its immediate resistance near $18–$20. This region has acted as a key supply zone during previous attempts at recovery. A confirmed breakout would mark the first decisive higher high since early August. The chart also projects a wide potential profit zone extending beyond $30, reinforcing bullish expectations for continuation in the coming sessions.

Don’s long-term outlook sets a $150 price target for the altcoin, representing his macro view of the asset’s growth potential. His projection aligns with a broader market cycle view, where it could regain higher valuations if accumulation continues.

The structure resembles an accumulation phase that typically occurs before sustained uptrends in mature tokens. Technical confirmation above $18 would validate this shift and attract new long positions from traders tracking the breakout pattern.

Analyst Identifies $16.20 as a Key Level

Analyst Crypto Tony provided an updated technical view on the coin, identifying $16.20 as a critical level for bullish continuation. The altcoin traded near $16.08 at the time of his analysis, rebounding from lows under $15.00. The recent move marks renewed buying activity after weeks of sideways consolidation, signaling that traders are regaining confidence around this range.

LINKUSD Chart | Source:x

According to the shared chart, a confirmed move above $16.20 could shift short-term sentiment from neutral to bullish. The $16.20 mark has historically served as both support and resistance, making it a pivotal zone for near-term direction.

If the asset sustains momentum above this threshold, traders may target the $17.00–$18.00 range. A failure to clear the level, however, may lead to renewed testing of local supports between $15.50 and $15.70, where previous accumulation has occurred.

LINK Maintains Bullish Momentum with Rising Volume

Chainlink has gained 5.35% in the last 24 hours, trading around $16.15 with a market capitalization of $11.25 billion. The token’s 24-hour trading volume reached $657 million, reflecting increased market participation.

LINKUSD 24-Hr Chart | Source: BraveNewCoin

Price action indicates a steady climb from $15.00, with buyers maintaining control throughout the intraday sessions. The consistent formation of higher lows supports the view of sustained bullish momentum across short-term intervals.

The upward slope of the recent chart pattern indicates controlled accumulation rather than speculative buying. The asset has managed to stay above its intraday supports between $15.80 and $15.90, reinforcing stability during minor pullbacks.

If the current trajectory continues, the token could attempt to test resistance zones near $16.50–$16.80. Clearing this band would open the path toward the $20 region, aligning with analyst forecasts that anticipate a broader trend reversal in progress.