Chainlink Price Gears Up for 200% Breakout as ETF Listing Ignites Hype

Chainlink (LINK) price action is showing signs of an impending major move, with analysts pointing to a massive symmetrical triangle formation since 2021, currently tightening between $13 and $26, which is considered a critical 'no-trade zone.' A breakout above $26 could target $34-$42, while a drop below $13 suggests a move toward $8-$10. Separately, a long-term descending triangle on the monthly chart suggests that clearing resistance around $15.83 to $30 could initiate a strong uptrend, with a macro target of $72. This bullish technical outlook is further supported by the recent listing of Bitwise's Chainlink Spot ETF on the DTCC, signaling increasing institutional recognition. Despite a recent 10.47% pullback to around $15.40, LINK maintains key support levels, and a successful break above $30 is anticipated to confirm a new expansion phase.

(Source：Brave New Coin)