Chainlink’s LINK token has kicked off the new week with renewed bullish momentum, trading near the $9.38 level after recently surging from the $8 range toward the $10 price zone. According to CoinMarketCap data, LINK gained about 0.15% in the last 24 hours, fueling debate over whether the asset has already established its bear market bottom.
Over recent weeks, analysts have discussed the possibility that LINK’s previous trading range near $6 marked a true bottom. The latest push toward $10 supports that view, although some market participants caution that a final retracement to the $6 area could still occur before a more durable bullish breakout begins.
Traders have highlighted growing accumulation interest, with Standard Chartered referenced as a source of strength for the asset. Bulls are now focused on holding the $8.9 horizontal level, which is seen as a key support zone to keep the current move intact.
The most striking development, however, is a technical pattern on the LINK price chart. Analysts say LINK has printed a triangular fakeout, a structure that previously preceded a bullish pump of more than 206.88%. One analyst described the setup as an “opportunity of a lifetime,” pointing to bullish divergence on the 3-day, 1-week, and 1-day charts, with upside targets of $10 and $15 over the next two months. If the pattern plays out, it could mark the end of LINK’s four-year-long downtrend.
