Chainlink (LINK) has completed a multi-year technical pattern, and traders await a correction before the next phase of the anticipated bull run.
Breakout Structure and Retest Zone
LINK broke beyond the descending trendline formed from the 2021 peak, signaling the first major breakout in years. The price currently hovers around the breakout area near $25–$26. Crypto analyst Ali expects one more dip as part of a retest, targeting the $23–$24 range where the apex and rising base trendline intersect. A deeper liquidity sweep could extend toward $21. However, the bullish setup remains intact if daily closes hold above this level.
Fibonacci Targets and Roadmap
Ali outlined a Fibonacci-driven roadmap that provides clear price objectives for LINK following the retest. His first target sits within the 0.786 extension cluster around $36–$38. A consolidation phase is then expected to form a higher low near the low-30s. If buyers maintain control at that level, the next target opens at the 1.0 Fibonacci projection near $52–$54, overlapping previous supply levels.
Risks and Market Conditions
The bullish roadmap depends on LINK holding above the reclaimed trendline. Ali described the risk as binary: lose the level and the structure weakens. As of the time of writing, LINK is priced at $23.12, down 7.75% in the past 24 hours with a trading volume of $1.77 billion.
The breakout structure will remain valid only if risks such as closing prices below the reclaimed trendline are eliminated. Further movement is anticipated towards the proposed targets by 2026.
