Chainlink Breaks Through Descending Trendline, Targets $15

The Chainlink price has broken through a descending trendline on its hourly chart, which had been capping LINK's attempts to move higher. This breakout comes after a period of consolidation under the trendline, where each rally attempt was capped along that falling line as price grounded sideways between roughly $11.037 and $12.638.

The reaction to this break has come alongside heavy short-side liquidations across every timeframe, suggesting real buying pressure rather than a thin technical wick. The hourly momentum indicator is currently reading near 71.71 and carries a bullish tag on the chart, showing strength building behind this move without yet reaching extreme overbought territory.

If LINK can sustain above this trendline break and continue pushing higher, it could open the door toward $12.638 as the next resistance, an old swing high that capped price action just before the breakout. Clearing that would then target $15.428 as the major upside target, a level that would mark a substantial extension if this breakout continues to hold.