The cryptocurrency market continues to show strength, with several major altcoins extending their rallies. Binance Coin (BNB), for instance, has gained more than 50% over the past 60 days, while Zcash (ZEC) shocked the market with an explosive 475% surge during the same period.
As altcoins starts to regain momentum, Chainlink (LINK) has quietly stepped into the spotlight. The token is trading in the green with modest daily gains, but its technical structure is beginning to flash a potentially bullish signal — one that could soon lead to a major breakout.
Cup and Handle Pattern
A closer look at the daily chart reveals that LINK has been forming a classic cup-and-handle pattern — a well-known bullish continuation setup that often precedes strong upside momentum.
After completing the “cup” portion of the pattern, LINK is now consolidating within the handle formation. This phase typically represents a short-term pause before a potential breakout.
The recent rejection near the neckline resistance pushed LINK to form multiple higher lows, indicating that buyers are still active in defending key levels. At the time of writing, LINK is trading around $22.57, maintaining stability above its crucial 100‑day moving average (MA) near $20.72 — a level that could serve as the main support if any further dip occurs.
What’s Next for LINK?
If the current pattern continues to unfold as expected, a decisive breakout above the handle zone could trigger a strong rally toward the neckline resistance near $27.20.
A clear move above $27.20, ideally with a retest of that level as new support, would confirm the breakout — potentially paving the way for a technical target around $43.25. That represents a possible 90% upside from current prices, echoing the kind of momentum seen recently in other leading altcoins.
However, confirmation remains key. Until LINK breaks convincingly above the handle and neckline levels, the setup remains in formation. Traders should monitor volume and momentum indicators closely to validate a true breakout rather than a short‑term fakeout.