A recent analysis from analyst ZAYK Charts suggests that Chainlink (LINK) is on the verge of a significant price surge.
Breakout from Descending Channel
The analysis indicates that LINK has broken out of a long-term descending triangle that has been forming since late 2023. This breakout, visible on the daily chart, could signal a powerful bullish trend.
Price Movement Forecast
At the time of writing, the LINK price is hovering around $17 after confirming the breakout above the downtrend line. ZAYK Charts forecasts a potential upside target of $27, representing a 63% move from the breakout level. The green box on the chart marks this projected range, indicating strong bullish momentum building up after months of consolidation.
Investor Perspectives
Analyst ZAYK Charts noted this setup, highlighting renewed investor confidence as the price pushes above key resistance levels. If this momentum holds and LINK continues to attract buyers, the Chainlink price could soon test the $25 to $27 range.
The analysis signals a potential bullish trend for Chainlink; however, results depend on the stability of the current movement.
