Chainlink (LINK) price prediction: A breakthrough of $24 will trigger a big pump, with an ultimate target of $98?

Chainlink (LINK) is currently at the end of a long-term consolidation pattern, facing a critical breakout node. Well-known analyst Ali Charts pointed out that if LINK successfully breaks through the $24 key resistance level, it may trigger a breakout from the symmetrical triangle pattern, with an initial target at $31.8, a mid-term target at $52.3, and a long-term potential target even reaching $98. Meanwhile, Chainlink's reserves continue to increase with LINK (accumulated 65,550 pieces, worth 1.4 million USD), exacerbating the market's Circulating Supply tightening, providing support on the supply-demand side for a potential price surge.

Key resistance $24: LINK breakout market catalyst Analyst Ali Charts pointed out that the long-term symmetrical triangle pattern formed by LINK since 2021 is nearing its end. This pattern usually indicates that a multi-level breakout market may follow. He emphasized that $24 is the most critical resistance level at present. Once the LINK price can effectively break through and stabilize at this level, it will confirm the bullish trend initiation.

Tiered targets: $31.8 → $52.3 → $98 According to Ali Charts' LINK price prediction model, the first key target after breaking through $24 is at $31.8 (corresponding to the 0.786 Fibonacci retracement level). After a successful breakout, bullish momentum is expected to drive the price to further challenge $52.3. Historical data shows that breakouts of this kind often exhibit stair-step progression, accompanied by consolidation phases. Ali Charts' long-term outlook is more optimistic; with sustained bullish momentum, LINK could ultimately reach a high of $98. Of course, this requires the price to repeatedly test and successfully break through several major resistance levels in the process, with the consolidation phase building momentum for the next upward move. The continued narrowing of the current formation suggests that a decisive breakout may happen soon.

The reserve fund continues to increase, exacerbating LINK's liquidity tightening The continuous buying behavior of Chainlink reserves is another key factor supporting bullish expectations. Data shows that this reserve has accumulated 65,550 LINK, valued at approximately $1.4 million, with an average cost of $16.83. This sustained on-chain accumulation is gradually depleting the circulating supply in the open market. Scarcity Effect is an important driving force for pushing up asset prices when demand remains strong. The long-term purchase of reserves not only demonstrates confidence in the potential of the LINK market but may also boost market sentiment and attract more speculative interest. As the available LINK for sale on exchanges decreases, the remaining tokens may receive higher quotes. If the accumulation of reserves continues, the supply-side pressure will resonate with bullish technical patterns, jointly driving prices up significantly.

Technical and fundamental resonance, the conditions for a breakthrough are maturing The current technical outlook for LINK is strongly supported by fundamentals:

1. Mature Technical Formation: The long-term symmetrical triangle formation has been fully built, and the breakout conditions are ripe.
2. Positive supply and demand dynamics: Continuous accumulation of reserves leads to a decrease in circulating supply and an increase in potential supply pressure.
3. Historical Performance Evidence: In the past, Chainlink has often seen significant price increases following the end of its accumulation period. Analysts believe that technical and supply-demand factors create a bullish resonance, significantly enhancing the likelihood of a breakout and its potential strength.

Conclusion: Chainlink (LINK) is at a critical technical turning point. A successful breakout above $24 resistance level will serve as a catalyst for igniting the LINK surge trend, with target paths pointing to $31.8, $52.3, and potentially challenging $98 in the long term. The sustained on-chain accumulation behavior of reserves significantly increases the scarcity of circulating supply, providing fundamental support for a potential price surge. While analysts hold a highly optimistic view on LINK's long-term price target, investors still need to closely monitor for confirmation signals of the breakout above the $24 level and remain cautious of the overall crypto market correction risks. The current technical structure is narrowing, indicating that the window for a trend change is approaching, and the market is waiting for a directional choice.