Chainlink (LINK) Is Breaking Out of a 3-Year Pattern: Here Are the Next Price Targets

• LINK nears breakout after years in symmetrical triangle, targets above $50 by 2026.
• Price rose 8.7% to $20.90 despite 11% volume drop, showing steady upward momentum.
• RSI close to overbought, MACD bullish crossover signals strong but cautious momentum.

Chainlink (LINK) is showing signs of a major breakout, pushing against the limits of a huge symmetrical triangle pattern that has been forming since 2021. 

For nearly three years, LINK’s price has been coiling between a descending resistance line from its all-time high and an ascending support line from its 2022 lows.

We saw this coming. This breakout didn’t happen overnight. Here’s our report corroborating on the investor accumulation that kept building for LINK near $16

This type of pattern signals that price volatility has been squeezing tighter and tighter, typically building up pressure for a big move. Key Fibonacci extension levels suggest that if a breakout occurs, the upside targets could be $31.87, $52.30, and even $86.15. 

These long-term projections indicate LINK could surpass $50 by 2026 and push beyond $80 in early 2027.

Recent Price Movement and Market Capitalization

On the day’s trading, Chainlink gained 8.7% in a single session, reaching a peak of $20.90 at the time of writing. This upward movement positions LINK as the 13th largest cryptocurrency by market capitalization, valued at approximately $14.17 billion.

Despite this price increase, trading volume declined by 11.16% to $1.35 billion, pointing to a more measured transactional environment compared to its market cap. The circulating supply currently stands at nearly 678 million LINK tokens, out of a total supply of 1 billion, with no maximum supply cap defined.

The price trend over the last 24 hours showed steady upward momentum, rising from around $19.20 to nearly $21. This consistent ascent reflects strengthening market confidence, setting the stage for potential continuation of gains or testing of resistance near $22.

Exchange Flow and Token Movement Insights

An analysis of LINK’s spot inflow and outflow data over the past 10 months shows patterns tied to price shifts. From mid-October to early December, large outflows dominated as holders moved tokens off exchanges, typically seen as a bullish sign. However, during this period, LINK’s price declined from roughly $30 to nearly $15 in December.

What the smart money did. On-chain flows have been bullish for a while. CoinEdition previously covered a massive $51 million withdrawal of LINK from exchanges.

From mid-March through June, outflows remained dominant while price stayed range-bound between $12 and $18. More recently, inflows have increased, and outflows have decreased from late June through early August. This shift corresponds with LINK’s price rise toward the $25 range.

Technical Indicators Signal Momentum With Caution

Daily technical indicators provide additional context for LINK’s short-term outlook. The Relative Strength Index (RSI) stands at 69.72, approaching the overbought threshold of 70. This shows that buying momentum is strong but nearing levels where short-term pullbacks or consolidation could occur.

Moreover, the Moving Average Convergence Divergence (MACD) supports the bullish momentum, with the MACD line at 0.704 crossing above the signal line at 0.489. The histogram’s growing green bars confirm increasing upward momentum, which often precedes further price appreciation.