Chainlink Set for 300% Surge After $23 Breakout, New ATH Coming Soon

Key Insights:

• Chainlink has seen the formation of rounding bottom pattern in its chart.
• The multi-month pattern could take LINK to $53 in the short run if the $22 resistance is breached.
• Several experts concur that LINK could rise to $100 by the peak of the altcoin season.
• Strong fundamentals and no major competitor are pushing LINK upwards.

Bullish Chart Patterns

LINK has seen the formation of a rounding bottom pattern on its charts, which has now been completed.

The pattern started forming around May 2024, when Chainlink suddenly dropped from $18 and continued to drop until its price reached a bottom of $9. The price remained at this level until the first week of November.

As crypto markets rejoiced after Donald Trump’s win, LINK rallied, too, starting at $9 and reaching $18 by 25 November, completing the rounding bottom pattern shown below.

The rounding bottom pattern is extremely bullish and usually forms before the revival of a crypto’s uptrend. This pattern could take LINK upwards of $53 (ATH at $52.9) and help it create a new ATH.

However, LINK has a resistance zone between $20 and $23, which needs to be decisively crossed before it reaches $53.

Short Term Targets at $53, Medium Term at $100

If LINK is able to decisively cross the $20 to $23 range, the prevalent bullishness in the crypto markets will lift it upwards to a new ATH. The current ATH of $52.9 lies 300% above LINK’s price at press time, which means LINK’s near-term targets are at least 300% higher.

In the medium term, we expect LINK to cross $100, i.e., by the end of the next alt season.

Experts Get Bullish on LINK

Further, the arrival of crypto alt season shows another great opportunity for LINK. Based on the expectation of an intensely bullish alt season, market experts have been predicting that LINK could cross $100 by the end of the upcoming alt season, i.e., by Dec 2025.

At present, the Altcoin Season Index shows that the markets are almost at a throw’s distance from the next alt season, as the index reached close to 50 this week. An alt season is considered to have arrived if the Altcoin Index reaches 50 or above.

Investing Haven, thinks the best time to accumulate LINK is now because the crypto sees a long-term bullish rally to $00 by the end of 2025 or early 2026.

Chart expert Ali Martinez also shares insightful data on LINK, which shows that its price could enter a major rally after the $22 hurdle.

Ali’s data also shows that at present, over 90% of LINK holders are in profit, which helps them take even more risk and buy it to push the price upwards. This trend has shifted up from 60% in its last bullish phase in May 2024.

Strong Fundamentals Lift LINK Higher

LINK is one of the strongest cryptos in the market. According to Michael Robinson, Product Marketing Manager at Chainlink, the project secures over $17.3 trillion of crypto assets, which is $2.5 trillion higher than Visa.

Another factor helping Chainlink in its bullish growth is that the project has virtually no other competitor. Smaller ones, such as QED and SupraOracles, are much smaller in their market sizes and secured value.

Further, Chainlink has recently launched its mainnet, which gives it an edge over several other oracles. It also allows Chainlink to secure its entire consensus using blockchain, making it far more secure than its competition.

Chainlink has also been working on enabling cross-border payments using its technology. Cross-border commerce is expected to play a major role in rebuilding resilient global supply lines after the devastating effects of COVID-19.

Finally, Chainlink’s most impactful project seems to be the Cross Chain Interoperability Protocol, which has integrated with USDC and helped it settle cross-chain transactions easily.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.