- LINK has broken past key resistance and is forming a bullish double bottom and falling wedge setup, with a potential rally up to 126%.
- Price currently hovers around $14.80, with targets set at $18, and long-term potential reaching $25–$30 if patterns hold.
- Technical strength, including a 30-day MVRV spike and 50-day SMA support, signals increasing bullish momentum.
Chainlink (LINK) has quietly surged 7% this past week, catching renewed attention as geopolitical tensions and U.S. tariff concerns ripple through global markets. Traders initially boxed LINK between $12.99 and $13.83—but the token has now broken above those levels, hinting at something bigger brewing beneath the surface.
According to analysts, the asset has formed a double bottom pattern—a classic bullish setup that could lead to a 126% rally if confirmed. Market sentiment has also strengthened, with LINK’s 30-day MVRV hitting a one-month high. Combined with a developing falling wedge pattern, these signals suggest LINK could soon defy recent resistance zones and head toward a steep upward trend.
A Bullish Pattern Forms: $18 Target in Sight?
Currently trading near $14.80, LINK is brushing up against a long-standing descending trendline. A breakout here would validate the falling wedge and open the door to a sharp move higher, possibly to $18 in the short term. For over two weeks, the token has consolidated within a narrow band—building the pressure for a breakout rally.
Analysts believe that once LINK crosses the $18 level and flips it into support, the double bottom formation on the weekly chart will complete. This could then mark the beginning of a sustained rally, with bullish targets sitting between $25 and $30.
LINK’s Momentum Builds as Moving Averages Turn Favorable
Technical indicators are starting to lean bullish as well. LINK is now holding above its 50-day simple moving average (SMA) at $13.50—serving as short-term support. A successful retest of this SMA could attract more buyers, especially if the price cracks the $14.65 resistance barrier. Momentum could snowball quickly from there, pushing LINK through the $17–$18 zone and into a more explosive rally phase.
Investor optimism is also growing, with analysts predicting that July could be a breakout month for LINK—provided market conditions hold and buying pressure continues to climb.
