Chainlink (LINK) price is drawing attention as technical patterns and market data point toward a possible price breakout. Recent analyses show that LINK is forming bullish structures on various timeframes. Analysts suggest that important resistance levels may soon be tested, with upside targets being set at higher ranges.
Bullish Cup and Handle Pattern Forming on Shorter Timeframes
On shorter time spans Chainlink established one of the classic technical formations known as cup and handle. A cup and handle pattern appears mainly in market consolidation periods and projects forward a sustained upward trend.
Chainlink moved toward its important resistance level between $15.30 to $15.50 and met rejection according to market analyst AMCryptoAlex. He predicted that a reevaluation of the $13.8 to $14.0 range will occur before the next upward movement. The analyst noted that a price bounce above $14 would push the price toward $18-$19 thus confirming the expected size of movements
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