Chainlink Price Hovers Near Breakout Zone Ahead of Potential $100 Move

Chainlink (LINK) has been on an upward trend after fluctuating between $8.1 and $8.5 for most of this month. The token currently trades at $8.75, having increased by around 4% in the last 24 hours. This brings its monthly gains to roughly 10%. Traders are waiting for a breakout to confirm a developing bullish structure.

CryptoPatel's latest analysis suggests that LINK is nearing a major move and could reach targets as high as $100. The token is currently trading in a bullish order flow, one of the strongest long-term accumulation zones on the chart. A confirmed higher-timeframe close above $10.87 would open the way toward $25, $50, and $100.

TheBoss also echoed this view, stating that LINK is 'approaching a decisive point.' The weekly chart has spent months building a base above the long-term support zone, with the descending trendline pressing into the current structure. A clean break above the descending trendline would strengthen the structure.