Chainlink Breaks Four-Year Symmetrical Triangle, Eyes $350 Rally
Chainlink has broken free from a four-year symmetrical triangle pattern. It initially surged 8.7% to $20.90, triggering Fibonacci extension targets at $31.87, $52.30 and $86.15 by early 2027. Momentum then accelerated with a 9% weekly breakout above the $24 descending trendline. The pattern’s measured move points to a rally toward $350, a roughly 1,398% gain over 294 days.
Volume analysis shows lower volume on pullbacks and spikes on advances, signaling accumulation. On-chain flows confirm significant net outflows during build-up and easing inflows during the price rally. The RSI stands near 65–70, nearing overbought levels, while the MACD has crossed bullishly with expanding green bars.
Seasonal October–December strength may align with this upswing. Traders should watch key support at $21 and look for volume-backed moves to validate the breakout or warn of a reversal.
Bullish
Chainlink’s clear breakout above long-term resistance coupled with low-volume pullbacks and high-volume rallies confirms strong buyer conviction. The RSI nearing overbought territory and a bullish MACD crossover suggest continued upside, while the pattern’s measured move projects a significant rally toward $350. In the short term, traders can expect momentum trades as price tests new support levels, with $21 serving as a critical reference. Over the longer term, Fibonacci targets at $86.15 and sustained on-chain accumulation point to a robust bull cycle, especially given historical year-end seasonality. Overall, these factors support a bullish view for LINK, though participants should monitor volume and technical levels to mitigate reversal risks.