Chainlink Breaks Out of Bullish Flag — Is $26.50 the Next Major Target?
- LINK breaks out of the bullish flag after 20-day consolidation, eyeing $26.50.
- Support stands near $18.00-$18.50 with $15.50 as a key downside level.
- Mid-term structure targets $33-$38 if the ascending trendline holds.
Chainlink’s breakout from a bullish flag has ignited strong buying pressure.Eyes are set on $22 and $26 as traders anticipate the next big move.
Bullish Flag Breakout
Crypto enthusiast Jonathan Carter on X noted that LINK has formed and broken out of a bullish flag on the daily chart after a 20-day consolidation phase. The breakout followed a rally from below $8 to over $21 between October 2024 and mid-2025, capped by a broadening wedge pattern.
The wedge, lasting from December to June, saw declining volume and inconsistent momentum. A breakout in late June shifted market structure, followed by a pullback into the bullish flag channel. This flag has now broken upward, with initial targets at $17.70, $22.00, and $26.50.
Strong Momentum and Key Levels
As of press time, LINK trades at $19.37, up 11.83% in 24 hours and 18.12% over the past week. The 50-day moving average sits below price, confirming bullish alignment. RSI at 79.13 signals overbought conditions, while MACD shows expanding bullish momentum with the MACD line well above the signal line.
Support is seen near $18.00-$18.50, where prior consolidation occurred. The $15.50 level remains a crucial floor, having held during previous rejections. Resistance stands at $20.00 and extends toward the $21-$26.50 range from past distribution zones.
Mid-Term Targets Above $30
Analysts Solberg Invest took to X to highlight a mid-term bullish falling wedge on the weekly chart, with price respecting an ascending trendline from mid-2022. This structure projects potential gains toward $33-$38 if the uptrend continues.
Historical resistance near $25.00 remains the next major hurdle. A break above it could open the path toward early 2022 highs. The market’s current pattern of higher highs and higher lows reinforces the bullish bias while volume growth supports continued upward movement.
