Chainlink Price Targets $52 as Technical Patterns Signal Bullish Momentum

• Analyst CryptoGoos identifies a double bottom pattern in LINK and targets $52 if the token breaks resistance at $36.

• Chainlink Reserve purchased over $1 million worth of LINK tokens and now holds over $2.6 million.

• Technical patterns and institutional buying create favorable conditions for LINK to reach its all-time high of $52.

Chainlink (LINK) trades around $22.85 as of Friday, showing mixed signals in the cryptocurrency market. Technical analysts now point to potential upside targets near the token’s all-time high levels, supported by accumulation patterns and favorable chart formations.

CryptoGoos, a market analyst, identifies a double bottom formation in LINK’s price action. This W-shaped pattern suggests buyers defend key support levels despite recent selling pressure. The technical setup indicates potential for significant price appreciation toward $52, representing Chainlink’s previous record high.

The double bottom pattern emerges as traders establish strong demand zones. This formation typically precedes substantial upward price movements when confirmed by volume and momentum indicators. The analyst also notes the possibility of an inverse head and shoulders pattern, another bullish technical configuration.

Breaking Key Resistance Levels

The bullish scenario depends on LINK breaking through critical resistance at $36. This price level last acted as significant resistance in 2022. A decisive break above this threshold, followed by a successful retest as support, would validate the upward trajectory toward $52.

Market participants monitor these technical levels closely. The $36 resistance represents a crucial inflection point for LINK’s medium-term outlook. Sustained trading above this level attracts additional buying interest from retail and institutional investors.

Chainlink Price Chart (Source: X)

Long-term price forecasts for 2025 suggest continued upward momentum for Chainlink. The token’s fundamental developments and network adoption generate positive sentiment among analysts and investors.

Strategic Token Accumulation Activity

The Chainlink Reserve recently acquired 44,109 LINK tokens worth over $1 million. This purchase adds to existing holdings, bringing the reserve’s total to more than 109,662 tokens valued at approximately $2.6 million.

This accumulation represents additional buying pressure beyond regular market participants. The strategic purchases occurred within days of another $1.4 million LINK acquisition by the same entity. Such institutional-level buying often supports price stability and upward momentum.

The reserve’s continued accumulation signals confidence in Chainlink’s long-term prospects. These purchases reduce the circulating supply available for trading while demonstrating a commitment to the ecosystem’s growth.

Market analysts view technical patterns and institutional accumulation as positive catalysts. The double bottom formation, supported by strategic buying, creates favorable conditions for LINK’s potential move toward $52.

The token’s all-time high stands at $52.99, reached in May 2021. Current technical analysis suggests this level remains achievable given proper market conditions and successful resistance breaks.