Chainlink (LINK) Poised for Breakout—Is $40.70 Next?

• A bounce off the $13.55 Fibonacci level and a rising wedge pattern suggest that LINK could soon break out toward $25.80, $32.66, and potentially $40.70.

• Market experts highlight the $13.50–$15.50 zone as an ideal entry point, with broader sentiment supporting a bullish trend if key resistance levels are breached.

As recently anticipated by Crypto News Flash (CNF), Chainlink’s market has signaled a big move, capturing the attention of investors and analysts, with technical indicators suggesting a potential bullish trajectory.

Analysts have identified a rising wedge pattern in LINK’s price chart, a formation often associated with bullish continuations. As shared in a tweet by Rose Premium Signals:

$LINK is trading within a clear rising wedge structure and has just bounced from the 0.786 Fibonacci level ($13.55) — a historically strong retracement zone.

A significant bounce off the $13.55 Fibonacci retracement level aligns with the lower boundary of this wedge, indicating strong support and a possible uptrend. Such technical patterns suggest that LINK could be poised for further gains in the near term.

Price Targets and Entry Points — Is $40.70 Next?

Market experts have set ambitious price targets for LINK, with key resistance levels identified at $25.80, $32.66, and $40.70. These targets represent significant milestones that, if achieved, could signal a robust bullish phase for the cryptocurrency.

For investors considering entering the market, the price range between $13.50 and $15.50 has been highlighted as an optimal entry zone, offering a favorable risk-reward ratio.

Market Sentiment and Future Outlook

The broader market sentiment towards Chainlink remains cautiously optimistic. Some forecasts predict LINK trading between $14.25 and $30.89 during 2025, contingent upon overcoming technical resistance barriers.

A recent CNF post also revealed that crypto analysts forecasted major rallies for LINK. Some anticipate a climb back above $15, establishing a bullish path toward $19 and beyond by the end of April. These projections underscore the potential for LINK to experience substantial growth, provided it navigates market dynamics effectively.

While technical analyses and market forecasts provide valuable insights, investors should approach them with due diligence. It is also important to familiarize yourself with LINK tools, such as those outlined in a CNF article providing a complete guide to managing Chainlink (LINK) tokens in your wallet.

The cryptocurrency market is inherently volatile, and while indicators for LINK appear promising, external factors and market sentiment can influence price movements.

At the time of writing, Chainlink (LINK) is trading at $15.43, up 1.64% in the past day and 12.32% over the past week. See LINK price chart below.