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<p>Amid ongoing price correction across the crypto market, Chainlink (LINK) has recently experienced a breakout of bullish price action patterns and is now poised for a significant rally. Despite <a href="https://coinpedia.org/price-prediction/chainlink-price-prediction/" rel="noopener noreferrer nofollow">LINK’s</a> bullish outlook, major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are struggling to gain momentum.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-chainlink-link-technical-analysis-and-upcoming-levels"><strong>Chainlink (LINK) Technical Analysis and Upcoming Levels</strong></h2>  
<p>According to expert technical analysis, LINK appears bullish and as of September 28, 2024, it broke out from the bullish double-bottom price action pattern. In trading, this pattern is considered a bullish signal, and traders often prefer going long following the breakout.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/09/29050234/LINKUSDT_2024-09-29_05-02-20.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/09/29050234/LINKUSDT_2024-09-29_05-02-20-1024x448.png" alt="" class="wp-image-357095"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<p>Based on the historical price momentum, if LINK closes its daily candle above the $12.90 level, there is a strong possibility that it could soar by 15% to reach the $15 level in the coming days.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-bullish-on-chain-metrics"><strong>Bullish On-Chain Metrics</strong></h2>  
<p>This positive outlook for LINK is further supported by on-chain metrics. According to the on-chain analytics firm <a href="https://www.coinglass.com/currencies/LINK" target="_blank" rel="noopener noreferrer nofollow">Coinglass</a>, LINK’s Long/Short ratio currently stands at 1.031, indicating bullish sentiment among traders. Additionally, its future open interest has increased by 2.5%, indicating rising interest from traders following the bullish breakout.</p>  
<p>Currently, 51.02% of top traders hold long positions, while 48.98% hold short positions.&nbsp;</p>  
<p>Data from IntoTheBlock shows that the number of large LINK transactions has steadily increased along with the LINK price in the past 7 days, indicating increased whale activity.&nbsp;</p>  
<h3 class="wp-block-heading" id="h-link-current-price-momentum-nbsp"><strong>LINK Current Price Momentum&nbsp;</strong></h3>  
<p>At press time, LINK is trading near $12.93 and has experienced a price surge of over 1.75% in the past 24 hours. Meanwhile, its trading volume has declined by 18% during the same time frame, indicating lower participation from traders and investors amid price correction.</p>  
<p>This bullish thesis will only hold if LINK closes its daily candle above the $12.90 level, otherwise, it may fail.</p>

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