Chainlink is consolidating near $15.13 after testing key support zones highlighted by analysts James Easton and Ali. Both suggest LINK is nearing a breakout from a multi-year symmetrical triangle, with potential upside targets between $30 and $50.
Technical indicators and whale accumulation signal a strong setup for a major bullish reversal.
Long-Term Structure Signals a Major Breakout
Analyst James Easton shared a long-term chart of Chainlink, showing a large symmetrical triangle formation that has been forming since 2020. The pattern reflects a tightening price range between an ascending support line and a descending resistance trendline.
The asset is currently trading near $15.44, positioned around the midpoint of this setup after rebounding from the key horizontal support zone between $12 and $13.
LINKUSD Chart | Source:x
Easton’s technical outlook indicates that the token is approaching the end of its multi-year consolidation phase. His projection outlines a potential upward breakout, initially toward $30–$35, and potentially beyond $50, if the price manages to close above the long-term resistance trendline. The chart also suggests that a minor pullback could occur before the breakout, forming a retest of the upper channel boundary before a continuation to higher levels.
Key Support Levels and Fibonacci Reversal Zone
Analyst Ali shared a detailed technical chart showing that Chainlink has reached a crucial ascending support trendline, which has historically acted as a foundation for previous rallies. His analysis places its current trading zone around $14.70, aligning with the 0.618 Fibonacci retracement level, a region often associated with strong reversals in price cycles.
LINKUSD Chart | Source:x
Ali’s forecast includes two major upside targets once a confirmed rebound begins — an initial rise toward $26, followed by a potential extension toward $47. The path outlined on his chart anticipates gradual price recovery through $16 and $20, leading to a retest of the $28 resistance zone. A successful breakout above that level could open the path to the next major rally phase near $47, completing the upper trendline projection shown in his model.
Current Price Behavior and Market Outlook
At press time, Chainlink trades near $15.13, following a 3.91% daily decline. The short-term chart shows the price opening around $15.70 before facing consistent selling pressure that pushed it to the $15.00 region. Despite the decline, trading volume remains strong at $649.7 million, showing active participation among traders and investors.
LINKUSD 24-Hr Chart | Source: BraveNewCoin
The intraday chart depicts a descending trendline, indicating reduced momentum after the latest accumulation phase. The token’s failure to hold above $15.50–$15.60 shows that short-term traders are taking profits at local highs. A decisive move below $15.00 could open the door to the next support near $14.70, while stability above this level could signal the start of a new consolidation range before recovery attempts resume.
Broader Technical Context and Future Scenarios
From a wider perspective, the altcoin maintains a market capitalization of $10.55 billion, placing it within the top twenty digital assets by value. On-chain data indicates that recent whale accumulation remains intact, supporting the view that current selling pressure may be corrective rather than a structural reversal.
If buying interest returns at the established support levels, the asset could regain the $15.50–$16.00 range and potentially test $17 in the short term. The combination of long-term chart structures shared by Easton and Ali points toward a potential continuation of its broader uptrend. Both analysts emphasize that sustained defense of the lower trendline could set the stage for a rally toward the $50 zone, marking a new phase of growth in its multi-year market cycle.
