Chainlink’s LINK price is attracting renewed attention as market observers point to a combination of technical developments, institutional activity, and expanding real-world adoption that could support a long-term recovery.
Gann Wyck recently observed that there is a GannWyck Model 1 Accumulation on higher timeframes for the LINK price. This analysis indicates that LINK is potentially at the end stage of a lengthy accumulation process after several years of a downward trend from its previous cycle peaks.
It is in light of the continued growth of Chainlink as the largest oracle network for DeFi applications. The analyst referred to a number of indicators that back up the bigger concept.
Source: X
Some of those include the increasing institutional interest in the Grayscale ETF application, purchases from Caliber Investments, and the increased relevance of Chainlink within the domain of data infrastructure. There is mention of the adoption of Chainlink data standards by BNB Chain in U.S. government data initiatives.
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LINK Price Long-Term Structure Suggests Accumulation Near Major Support
The LINK price has been in an extended downtrend over the past two years following its all-time high around $30 in late 2024, characterized by lower peaks and troughs throughout.
The sell-off forced the cryptocurrency to drop to a $7-$8 range, which marks a stable level for the coin now. The $6.50-$7.50 range is considered key for accumulation, with several layers of defense.
Movement above $10 indicates that the downtrend is reversing and may bring some buying action.
The outlook is positive, with a possible slow recovery, reaching targets of $13-$15, $18-$20, and $25-$27; however, the long-term target remains $28-$30, resulting in an increase of 250%-300%.
Multi-Year Channel Points to Larger Upside Potential
While a different analysis of the same coin is by Crypto Patel on a weekly chart for the past three weeks. In it, he mentions that the LINK price has been consolidating in a downward channel since its high in 2021 at around $50.
The chart indicates the presence of a strong buying region between $4.75 and $7.85, and LINK has once again entered this buying region after an 86-87% fall from recent highs.
Based on this analysis, there are chances for starting a new uptrend in the market due to crossing the upper channel border.
Source: X
The nearest target will be near $21.35, while after that, the target is likely to shift towards the previous cycle high level of about $52.22. The most optimistic forecast for LINK implies its price reaching $100 in the period of 2028-2029.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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