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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Chainlink In Rally Mode: Rising Channel Formation Signals Continued Climb

Godspower Owie
Godspower Owie
2 months ago
3 mins read
Chainlink

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Chainlink (LINK) is showing renewed strength as its price moves higher within a well-defined rising channel pattern. After a period of consolidation, LINK has entered a rally mode, forming the channel, a classic signal of sustained upward movement. This technical setup suggests that the bulls are firmly in control, and unless a major shift in sentiment occurs, the uptrend could continue in the short to mid-term.

Chainlink Breaks Above 200 MA: Bullish Momentum Builds On M30

In an X post, crypto analyst Thomas Anderson highlighted that Chainlink is exhibiting notable bullish momentum on the 30-minute (M30) timeframe. According to Anderson, LINK has successfully broken above the 200-day moving average (marked in red on the chart), a significant technical milestone that often signals a shift in market sentiment. At the time of his post, LINK was trading around $15.560 and was actively forming an ascending channel,  a bullish price pattern characterized by consistently higher lows and higher highs.

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Chainlink Holds Strong At $15.29 Support – Is A New Breakout Imminent?

2 months ago

Anderson noted that the current price structure reflects sustained buying interest, with the Relative Strength Index (RSI) sitting comfortably at 64.23 just below overbought territory, indicating healthy momentum. Additionally, the MACD (Moving Average Convergence Divergence) indicator is in positive territory, further reinforcing the strength of the ongoing uptrend.

Chainlink
LINK displaying upward strength | Source: Thomas Anderson on X

However, he cautioned traders to remain vigilant as the price approaches the upper boundary of the ascending channel. This zone could act as a short-term resistance level, triggering a pullback or consolidation phase before further upside. Overall, the outlook for Chainlink on the M30 chart remains bullish.

LINK Flips Bearish Structure On Daily Timeframe

A crypto analyst @Whales_Crypto_Trading shared a bullish outlook on LINK, noting that the asset is currently breaking out of a descending channel on the daily timeframe. This long-standing pattern had previously kept LINK locked in a downward trajectory, but the recent price action suggests that momentum is shifting in favor of the bulls. A breakout from this structure is typically seen as a strong technical signal, indicating the potential for a significant trend reversal.

Related Reading

Chainlink Flashes Daily Buy Signal – Breakout Next?

Chainlink Flashes Daily Buy Signal – Breakout Next?

3 months ago

According to the analyst, a complete descending channel pattern suggests that Chainlink is no longer confined in a bearish trend and may now be positioned for a substantial upside move. With market sentiment showing early signs of turning positive, the breakout could mark the beginning of a new bullish phase for LINK, supported by improved technical indicators and increasing volume.

He concluded by stating that this breakout sets the stage for a massive rally, with $28 identified as the next major target. Reaching this level would represent a strong recovery and a clear signal that bulls have regained control. 

Chainlink
LINK trading at $15.72 on the 1D chart | Source: LINKUSDT on Tradingview.com
Featured image from Freepik, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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