Meanwhile, trader Crypto Rand suggested that Chainlink is ready to bounce as "LINK marines are getting ready for the bull reversal.” The market watcher pointed out the cryptocurrency has been forming a falling wedge pattern since the start of 2025, and the $14 support recovery is "pushing for the breakout.” A breakout from the pattern’s upper trendline, which is around the $14.5 mark, could propel the token’s price to a 30% surge near the $20 barrier.
Crypto analyst Ali Martinez noted that holding its current level "could set the stage for a rebound to $24.” As Martinez has pointed out, Chainlink has been in an ascending parallel channel since July 2023, moving between the pattern’s upper and lower boundary over the last year and a half. LINK surged to the channel’s upper trendline every time it retested the lower zone before dropping back, repeating the cycle.
Based on this, the recent recovery of the parallel channel’s lower range could send the cryptocurrency to the mid-zone of the pattern before a climb to the upper boundary. "A Spike in buying pressure at the current levels can help Chainlink rebound to the upper boundary at $45,” the analyst explained.
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