The post LINK price eyes a 20% surge as multiple bullish patterns emerge appeared on BitcoinEthereumNews.com.

The LINK price looks set for a potential 20% breakout as momentum builds from both technical patterns and growing adoption across the ecosystem. According to data from crypto.news, Chainlink (LINK)  was up roughly 6% trading at $17.27 on May 14 afternoon Asian time, extending its rally, which began May 6, as macro conditions eased. It is now up nearly 70% from its lowest level this year, giving the token a market valuation of nearly $11.39 billion. Open interest in LINK has also climbed sharply, reaching $768.65 million, its highest level since March 11, when it stood at $400 million, according to CoinGlass. Rising open interest typically signals increasing trader participation and heightened speculative activity, often seen ahead of major price moves. Data also shows that the altcoin’s weighted funding rate has remained positive for the past 7 days. A positive funding rate basically means that traders going long are paying a small fee to shorts. It’s a sign that more people are leaning bullish and willing to pay up to hold their long positions. The daily chart shows that LINK has recovered strongly after bottoming at $10.21 in April. It has now broken above the 50-day moving average, a strong sign that the bulls are gaining ground. LINK price, 50-day EMA and ADX chart — May 14 | Source: crypto.news The token has also formed an inverse head-and-shoulders pattern, a classic setup that often signals a trend reversal. The head sits around $10, with the two shoulders near the $16 mark. Adding to the momentum, the Average Directional Index has climbed to 20, indicating that a strong trend is starting to take shape. LINK price 4-hour chart — May14 | Source: crypto.news Zooming into the 4-hour chart, LINK has been trading inside an ascending broadening pattern. If it manages to…

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Filed under: News - @ May 14, 2025 8:28 am