A pile of coins
Chainlink (LINK) has been on the radar lately as it started gaining the attention of investors and traders after some period of silence.
Ad
One analyst, Ali on 23 October said the coin is preparing for a breakout that can trigger a bullish surge to $53 if it succeeds in getting to the key price of $25.
A breakout brewing
Ali said LINK is preparing for a major breakout based on his analysis, adding that the token is getting ready to break out of a symmetrical triangle it seems to be forming.
This triangle is formed when two trendlines connecting a series of lower highs and higher lows converge, forming a a progressively tighter trading range.
Ad
It indicates that the asset is trading in a tighter range towards the tip, which eventually leads to a breakout that can be upward or downward.
Ali believes a break and close above $25 on his shared chat will likely trigger a bullish breakout to $53 or even $100.
LINK is currently trading at $17.37, which means it needs at least a 47% increase from here to reach Ali’s $25 target.
This is a far cry from the current reality, where the market has been moving sideways for days. However, a breakout of Bitcoin and the rest of the market could make this possible.
Whales eye LINK
Prior to Ali’s analysis of the symmetrical triangle, whales already had their eyes on the coin, with notable accumulations ongoing in the last week.
Data available show that several whales have been buying and withdrawing the asset to personal wallets, indicating confidence in its future.
Such accumulations could have fueled the current momentum that is building behind LINK and getting it ready for a possible breakout that can trigger bigger price explorations.
How do you rate this article?
Subscribe to our YouTube channel for crypto market insights and educational videos.
Join our Socials
Briefly, clearly and without noise – get the most important crypto news and market insights first.
Most Read Today
1
Samsung crushes Apple with over 700 million more smartphones shipped in a decade
2Peter Schiff Warns of a U.S. Dollar Collapse Far Worse Than 2008
3Dubai Insurance Launches Crypto Wallet for Premium Payments & Claims
4XRP Whales Buy The Dip While Price Goes Nowhere
5Luxury Meets Hash Power: This $40K Watch Actually Mines Bitcoin
Latest
Most Read Today
MOST ENGAGING
8
Also read
Similar stories you might like.
Bitcoin
Why Bitcoin Looks Weak Today But Strong Long-Term
Ana | 2026-01-29
Altcoins
Tom Lee’s Bitmine Deepens Massive Ethereum Staking Bet to $7.6B
Ana | 2026-01-29
Altcoins
Dogecoin Bulls vs. Bears? One Key Line Decides Everything
Ana | 2026-01-29
Altcoins
XRP Whales Buy The Dip While Price Goes Nowhere
Ana | 2026-01-29
Altcoins
Russia Finalizes Rules for Bitcoin, Ethereum, and Stablecoins
Ana | 2026-01-29
Altcoins
Crypto Mirrors 2020 as a 2021-Style Rally Looms
Ana | 2026-01-28
Bitcoin
Bitcoin’s Four-Year Cycle Is “Dead,” Claims the World’s Smartest Man
Ana | 2026-01-28
Altcoins
Grayscale Tweaks XRP Trust Filing as Spot ETF Momentum Heats Up
Ana | 2026-01-29
Bitcoin
Dorsey’s Offline Chat and Bitcoin App Surges Amid Iran, Uganda Shutdowns
Ana | 2026-01-29
Altcoins
Vitalik Warns Crypto’s Biggest Risk Isn’t Hackers – It’s Something Worse
Ana | 2026-01-28