The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/link-price-analysis-is-link-ready-for-a-year-long-breakout/">LINK Price Analysis: Is LINK Ready For A Year-Long Breakout?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
With remarkable growth in recent weeks, the LINK price has increased by 22%, leading to a sharp reversal. Moreover, the uptrend in <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/" rel="noopener noreferrer nofollow">Chainlink’s price</a> challenges the 50-week EMA, teasing a potential breakout.&nbsp; 
In addition to the EMA breakout, the uptrend also displays a possibility of a long-term consolidation breakout 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/26121635/LINKUSD_2023-09-26_11-45-46-1024x463.png" alt="" class="wp-image-232659" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/26121635/LINKUSD_2023-09-26_11-45-46-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121635/LINKUSD_2023-09-26_11-45-46-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121635/LINKUSD_2023-09-26_11-45-46-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121635/LINKUSD_2023-09-26_11-45-46-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121635/LINKUSD_2023-09-26_11-45-46-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121635/LINKUSD_2023-09-26_11-45-46.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Despite the volatility in the daily chart, the LINK price action forms a channel pattern in the weekly chart. This represents a consolidating sideways trend in the bigger picture. However, the reversal chances exist as long as the uptrend remains below the overhead trendline.&nbsp; 
Currently, the LINK coin price trades at $7.49, with a growth of 7.43% in the last 24 hours, leading to a bullish engulfing candle. Therefore, the overall trend momentum and the market sentiment are extremely bullish.&nbsp; 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/26121637/LINKUSD_2023-09-26_11-45-21-1024x463.png" alt="" class="wp-image-232660" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/26121637/LINKUSD_2023-09-26_11-45-21-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121637/LINKUSD_2023-09-26_11-45-21-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121637/LINKUSD_2023-09-26_11-45-21-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121637/LINKUSD_2023-09-26_11-45-21-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121637/LINKUSD_2023-09-26_11-45-21-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/26121637/LINKUSD_2023-09-26_11-45-21.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
In like fashion, the daily chart remains bullish and shows the LINK price forming a rounding bottom pattern. In addition to the bullish pattern, the uptrend increases the golden crossover chances.&nbsp; 
Technical indicators: 
RSI indicator: The RSI indicator approaches the overbought boundary and reflects a sharp increase in bullish momentum.&nbsp; 
MACD indicator: The MACD and signal lines continue to move in a positive trajectory with the rising histograms.&nbsp; 
<h2 class="wp-block-heading" id="h-will-link-price-cross-10">Will LINK Price Cross $10?</h2> 
Forming a rounding bottom to tease the channel breakout, the future LINK price trend maintains an optimistic viewpoint. The trendline breakout, or the $7.79 breakout, will unleash the high momentum rally in Chainlink’s price.&nbsp; 
The breakout rally in LINK price can reach the 200-week EMA at $9.065. However, the year-long range breakout will display more impressive bullish maneuvers. Therefore, it is possible for the altcoin price to reach $12.75. 
On the flip side, a rejection at the trendline can nullify the bullish framework and restart the bearish cycle within the range. Potentially, the downtrend can reach the $5.66 mark upon a $5.85 breakdown.&nbsp;

LINK Price Analysis: Is LINK Ready For A Year-Long Breakout?

Table of Contents

CoinPedia News

Other articles published on Sep 26, 2023

Shiba Inu: New Calculation Predicts When SHIB Could Hit $0.01

Will Pepecoin (PEPE) Make it to The Moon, Shiba Budz (BUDZ) Token Momentum Grows as Investors Join

Decred Journal – August 2023

Lazarus Group Turns TRON Whale with 137M TRX After CoinEx Hack

XRPL Upgrade Has XRP Traders Dreaming of 2017 – Here’s Why the Bulls are Back

Trader Joe Submits 1.83 Million ARB Grant Proposal to Arbitrum

Join our free newsletter for daily crypto updates!