Chainlink (LINK) is showing signs of a strong bullish reversal, targeting a move towards $32, with key breakout patterns including a double bottom and falling wedge supporting further price gains.
Analysts believe that if LINK maintains its position above $12.50, it could see a surge towards $18 and potentially even higher to $32, riding a multi-month ascending channel.
Technical indicators like the double bottom formation and plunging wedge suggest a bullish trend, with potential targets at $17.50, $19.30, and $26. Analysts highlight the importance of LINK staying above key support levels for continued upward momentum.
Despite cautious crypto market sentiment, LINK appears to be defying broader trends, trading above short-term moving averages. Analysts predict a strong price movement if LINK clears $16, indicating a potential push towards its yearly high near $32.