Chainlink (LINK) has recently captured the attention of the crypto market, with its price pushing decisively above the $19 mark. This move signals a significant shift in its long-term market dynamics, according to recent technical analysis. The breakout, supported by robust trading volume and a notable chart pattern, has led analysts to set their sights on a potential target of $28 in the near term.
The cryptocurrency, which facilitates hybrid smart contracts, has demonstrated resilience by establishing a strong base above $14. This support level proved pivotal in forming a “double bottom” reversal pattern, a classic indicator signaling a potential end to a downtrend and the beginning of an upward trajectory. This pattern’s “neckline” – the resistance point that, once broken, confirms the pattern – aligned perfectly with the critical $19 Gann arc, a widely followed technical indicator that has historically marked major turning points for LINK since 2021.
The successful breach of this long-standing Gann arc resistance on the weekly chart is particularly noteworthy. For years, Chainlink struggled to sustain closes above this curved resistance line, but the recent price action indicates a powerful and potentially enduring change in trend. The consistent increase in trading volume over the past three weeks further bolsters the conviction behind this breakout, suggesting broad market participation and buying interest.
Market observers are closely watching the implications of this technical development. Analytics shared by ‘Cantonese Cat’ on social media platform X on July 21, 2025, showcased the successful Gann arc break to over 120,000 viewers, generating significant discussion and confirming an uptick in long positions among traders. The chart, which tracks Chainlink’s price at approximately $19,327, also illustrates how historical Gann curvatures have consistently aligned with major reversals from 2019 to 2024, implying that LINK may be entering a new, upward-facing cycle.
The confluence of the double bottom pattern and the Gann arc breakout provides a compelling narrative for Chainlink’s future. With the $14 support holding firm since early 2025 and acting as a springboard for current momentum, technical projections from the double bottom’s base to its neckline suggest potential targets in the $23 to $28 range. As Chainlink maintains its position above these key technical junctures, the focus for investors and traders shifts towards the next projected resistance arc near the $28 level, signaling a potentially robust Q3 2025 for the asset.
Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always conduct thorough research before making investment decisions.
