Chainlink Price Today: LINK Holds $20.31 as Multi-Year Triangle Nears Breakout
The post Chainlink Price Today: LINK Holds $20.31 as Multi-Year Triangle Nears Breakout appeared on BitcoinEthereumNews.com.
Chainlink is approaching a pivotal moment as its weekly chart forms a long-term symmetrical triangle pattern, a structure that has been building since 2021. Price is currently consolidating near $20.31, just under the upper boundary of this formation, where years of compressed volatility now point to the potential for a major breakout. Historically, such multi-year setups often precede decisive moves that set the tone for the next stage of the market cycle. Symmetrical Triangle Shapes Outlook According to analyst Ali on X, Chainlink’s current trajectory suggests a breakout scenario is developing, with the triangle guiding price action for nearly four years. He notes that a possible dip toward $16.50, which aligns with the 0.5 Fibonacci retracement level, would serve as a “gift” buying opportunity for long-term investors. This area has acted as a crucial re-entry zone for buyers in past cycles, making it a level of significant interest should the market retrace. Source: X Ali emphasizes that if support holds and momentum resumes, Fibonacci extensions point toward ambitious upside targets at $32, $53, and ultimately $100 over the coming years. Such levels would represent a multi-year continuation of the coin’s broader trend, contingent on maintaining strength above $19 and securing a breakout close beyond $29. Traders remain cautious but optimistic, with many pointing to this structure as a defining factor for the token’s trajectory into 2026. Market Data Highlights Key Levels Additionally, the data from BraveNewCoin adds context to Chainlink’s positioning. The asset is priced at $20.31, down 5.51% in the past 24 hours, with a market capitalization of $13.8 billion. Trading volume stands at $1.19 billion, showing strong participation despite recent downside pressure. The circulating supply is 678 million tokens, securing the crypto’s rank as the #15 cryptocurrency by market cap. Source: BraveNewCoin Over the past week, volatility has…
