The Gaussian Channel shows trend exhaustion rather than expansion, reinforcing the shift from trending to ranging conditions. $8 is immediate support for the LINK price rally, followed by the range floor near $6. A breakdown below $6 could open $4.50–$5. On the upside, LINK must reclaim $10 on a weekly close to target $12 and potentially $15. Until then, consolidation remains the dominant bias.
What’s Next for the Chainlink (LINK) Price Rally?
Chainlink is at a structural crossroads. While the current setup resembles the 2022–23 accumulation phase, one key difference could prevent a prolonged range: a strong market-wide expansion led by Bitcoin. If BTC breaks into sustained price discovery and liquidity flows back into large-cap altcoins, LINK could invalidate the slow-accumulation thesis much faster. A decisive reclaim of $10 with expanding volume would signal early strength and open the path toward $12–$15. However, without a broader risk-on catalyst, LINK is more likely to remain range-bound, building energy before its next major move.
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