Chainlink (LINK) Could Be Heading for $100, But This Level Stands in the Way

LINK is approaching a point where one breakout could change the entire setup. Chainlink has picked up pace after spending much of the month moving between roughly $8.1 and $8.5. The token is currently trading at $8.75, after increasing by roughly 4% in the last 24 hours. The latest jump pushed its monthly gains to around 10%. Traders are now waiting for a breakout to confirm the developing bullish structure. Closing In on a Major Breakout According to CryptoPatel’s latest analysis, LINK is nearing a major move and could reach targets as high as $100. The market watcher said the asset is trading in a bullish order flow, which is one of the strongest long-term accumulation zones on the chart. As such, a confirmed higher-timeframe close above $10.87 could open the way toward $25, $50, and $100. A higher-timeframe close below $4.761, however, would invalidate the setup. Holding above $10.87 would also turn the structure decisively bullish. TheBoss also echoed a similar view and said that LINK is “approaching a decisive point.” The trader explained that the weekly chart has spent months building a base above the long-term support zone. The descending trendline is now pressing into the c...