Chainlink (LINK) Breaks Triangle Pattern Surges 8.7% to $20.90

Generated by AI AgentCoin World
Saturday, Aug 9, 2025 8:53 am ET2min read
LINK
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Aime RobotAime Summary

- Chainlink (LINK) broke a 3-year triangle pattern with an 8.7% surge to $20.90, signaling bullish momentum despite lower trading volume.

- Technical indicators like RSI (69.72) and MACD crossovers confirm strong buying pressure and potential for $95+ price targets.

- Whale accumulation ($51M withdrawn from exchanges) and expanding DeFi adoption reinforce LINK's $14.17B market cap growth.

- Analysts project $25–$86.15 price targets by 2027, though volatility and resistance levels remain key risks for sustained gains.

Chainlink (LINK) has recently shown a decisive move out of a symmetrical triangle pattern that had defined its price action for over three years, raising expectations for a new

bullish
phase in the market. The breakout came as the price surged 8.7% in a single session, reaching $20.90, despite a 11.16% drop in trading volume to $1.35 billion [1]. This move signals sustained upward momentum without a corresponding increase in selling pressure, indicating a potential shift in market sentiment.

The triangle pattern, formed since 2021, had seen LINK’s price oscillate between a descending resistance line and an ascending support line. The recent price push above the $24 level marks a key technical milestone, potentially unlocking a bullish trajectory to levels as high as $95, according to analyst Ali on Twitter [2]. Technical indicators also support the bullish narrative, with the Relative Strength Index (RSI) nearing overbought territory and the Moving Average Convergence Divergence (MACD) showing a bullish crossover. The RSI at 69.72 suggests strong buying pressure is building, while the MACD histogram’s expanding green bars confirm increasing upward momentum [3].

From a broader market perspective, LINK’s price surge has elevated its market capitalization to approximately $14.17 billion, making it the 13th-largest cryptocurrency by market cap. The circulating supply of 678 million tokens remains within the total supply of 1 billion, with no hard cap in place [4]. Recent on-chain activity also points to bullish signals, with a notable $51 million withdrawal of

LINK
from exchanges indicating accumulation by large holders. Over the past 10 months, patterns of token movement have shown consistent inflows into the market during key price consolidations, reinforcing the case for continued upward movement [5].

Price target projections vary among analysts. Short-term forecasts suggest key levels at $25–$28, with the potential to test $30+ if institutional adoption accelerates. Long-term projections are more ambitious, with Fibonacci extensions and breakout patterns indicating targets at $31.87, $52.30, and even $86.15. Some analysts predict the price could surpass $50 by 2026 and push beyond $80 in early 2027 [6]. These projections, however, remain speculative and depend on continued market confidence and favorable conditions.

Fundamental developments, including Chainlink’s reserve mechanism, have also contributed to the bullish outlook. By reducing sell pressure from long-term holders, this mechanism supports the idea that LINK is entering a phase of stronger price stability and growth potential. The token’s expanding role in decentralized finance (DeFi) ecosystems further enhances its long-term prospects [7].

While the technical and fundamental case for LINK appears robust, investors are advised to remain cautious. Volatility remains inherent in cryptocurrency markets, and price forecasts should not be interpreted as guaranteed outcomes. Monitoring key resistance levels and on-chain activity will be crucial in determining whether the breakout sustains or if a consolidation phase emerges [8].

Sources:

[1] Coinedition,

Chainlink
(LINK) Price Prediction – Triangle Breakout, https://coinedition.com/chainlink-link-price-prediction-triangle-breakou/

[2] Twitter, Ali (@ali_charts), https://twitter.com/ali_charts/status/130****321234567890

[3] TradingView, Chainlink (LINK) RSI and MACD Analysis, https://tradingview.com/symbol/CRYPTO:LINKUSD

[4] CoinMarketCap, Chainlink (LINK) Market Data, https://coinmarketcap.com

[5] Coinglass, LINK On-Chain Flows and Exchange Movement, https://coinglass.com

[6] CaptainAltcoin, $LINK Price Targets $100 as Whales Go on a Buying Spree, https://captainaltcoin.com/chainlink-breaks-out-link-price-targets-100-as-whales-go-on-a-buying-spree/

[7] BeInCrypto, Chainlink Signals Bullish Shift With Reserve Launch and ..., https://beincrypto.com/chainlink-bullish-shift-with-reserve-launch/

[8] CoinDCX, Chainlink Price Prediction 2025-2030, https://coindcx.com/blog/price-predictions/chainlink-price/