Chainlink’s price has maintained stability above the $17.50 mark, reinforcing market confidence in the ongoing mid-term uptrend.
Multiple analysts point to strong technical formations and upcoming catalysts that could drive the coin’s next move toward the $22 resistance zone, and potentially even the $46 price target outlined by leading market strategists.
Data Outline a Simple but Bullish Roadmap
Prominent analyst Ali on X recently shared a straightforward trading plan for Chainlink: “Buy the dip at $15 and take profits at $46.” His technical chart outlines a wide ascending channel pattern, where the asset’s price continues to respect dynamic support and resistance lines.
Source: X
The projection suggests that the current correction phase is a healthy retracement within a larger bullish cycle — setting the stage for a continuation toward the upper boundary of the channel near $40–$46
The plan has resonated with traders, as it mirrors the asset’s consistent pattern of retracing to channel support before launching higher. Holding above $15 remains key to preserving this bullish structure.
LINK Market Data Shows Growing Participation
According to BraveNewCoin, Chainlink currently trades at $17.85, showing a 2.48% increase over the past 24 hours. The token’s market capitalization stands at $12.43 billion, with a 24-hour trading volume of $648.93 million, highlighting renewed participation from both retail and institutional traders.
Source: BraveNewCoin
The rise in daily volume signals fresh inflows into the token market, as participants position around key support levels. This stability above $17 reinforces the sentiment that the recent pullback may be nearing exhaustion, aligning with the accumulation trend noted in previous sessions.
Chart Patterns Hint at Symmetrical Breakout Potential
Analyst The Crypto Panda added that LINK is attempting to break out of a symmetrical triangle formation, which typically precedes a large directional move. A decisive breakout above the $22 level could unlock a rally toward $34, especially as the project gains momentum ahead of SmartCon and end-of-year developments.
Source: X
The analyst also hinted that a faster breakout could accelerate the asset’s rise, stating that “if we break $22 sooner, there’s no telling how fast it could all go.” This aligns with the bullish roadmap proposed by Ali, reinforcing consensus around the coin’s strengthening technical outlook.
Technical readings support the bullish bias forming across the asset’s chart. The Moving Average Convergence Divergence (MACD) indicator is nearing a bullish crossover, while the Relative Strength Index (RSI) remains neutral around the mid-50s — indicating that there’s still ample room for upward momentum. Price action remains supported by the 50-day moving average, which continues to act as dynamic support near the $17 level.
A confirmed close above $22 would validate the bullish triangle breakout and potentially initiate a measured move toward $28–$34, with the long-term channel projection capping at $46. Conversely, failure to hold $15 could invalidate the setup and push prices back toward lower support zones near $13–$14.