Chainlink News – LINK Hits Critical Support – Parabolic Surge or $8 Coming?
The post Chainlink News – LINK Hits Critical Support – Parabolic Surge or $8 Coming? appeared on BitcoinEthereumNews.com.
Chainlink approaches a 6-year trendline as market analysts disagreed over whether it would break parabolic or retest at $8. This week, the Grayscale LINK ETF goes live with a tremendous amount of volatility. Chainlink is at a critical technical point. The token multi-year support levels. Analysts are still split on the next move. At the time of press, LINK is trading at 13.24. The price rests on an important 6-year falling wedge price pattern. Technical indicators flash mixed signals over time. Bulls Eye Parabolic Breakout From Multi-Year Pattern Chainlink shows a remarkably clean technical structure according to the statements of AltcoinPiooners on X. The analyst points out a falling wedge in textbooks as early as 2019. The current price action is the fifth time that it has approached the lower trendline. Source – AltcoinPiooners on X The crypto asset presents excessive contraction in volume. RSI weekly values reflect historic oversolds of 2019 and 2023 lows. Good bullish divergence is visible on RSI and MACD. AltcoinPiooners pledges ambitious upside goals on a verified breakout. The first resistance is at $38 to 42, retesting 2021 highs. The targeted measured wedge goes up to 68 to 75. The extension of the full cycle would drive LINK to 120-150. The bullish case is solidified by real-world adoption. Collaborations with Swift, DTCC and key banks continue growing. The Cross-Chain Interoperability Protocol is still live. You might also like: Chainlink News: LINK Price Prepares for Big Rally as ETF Listing Sparks Interest Bearish Scenario Points to $8 Retest Ali Charts portrays a different opinion on X. The analyst cautions that Chainlink could repeat breakdown zones. Price may fall to around $8 and then create a sustainable bottom. Source: Ali Charts The bearish thesis implies that the existing support can collapse. The bullish wedge would be nullified…
Filed under: News - @ December 2, 2025 4:26 am