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Chainlink (LINK) Update: Breakout Coming?

 

LINK Chart (Source TradingView)

Chainlink (LINK) is currently trading inside a horizontal channel. The price has formed strong support around the $8.00 level, which has acted as a key demand zone in the past, including during the crypto crash. Buyers are actively defending this area.

As long as LINK holds above $8.00, the structure remains bullish, and a reversal is possible. However, price is currently facing rejection near $8.50, which is acting as a short-term resistance level.

A strong breakout and sustained move above $8.50 would confirm a bullish continuation and could push LINK out of the current channel. In that case, the next major liquidity area lies around $11.50.

If this breakout holds, LINK may see a potential move of approximately +20% from current levels.

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