Chainlink trades near $8 within a multi-year channel, with targets at $26, $52, and $100 if resistance breaks on the 3W chart.
Chainlink is drawing renewed attention as analysts assess whether a 10x move is possible.
Market data shows LINK trading within a multi-year descending channel since its 2021 peak near $53.
Current price action near macro support has prompted discussions about a potential breakout toward higher liquidity zones.
Multi-Year Descending Channel and Key Support Zone
Chainlink has remained inside a descending channel on the three-week chart since 2021.
The asset declined more than 86% from its cycle high. Price is now positioned within a higher timeframe demand block between $7.50 and $5.60.
Technical analysts describe this range as a critical accumulation area. Market structure shows repeated sell-side liquidity sweeps into support.
These sweeps were absorbed without extended downside continuation. The three-week chart also shows multiple higher lows within the demand zone.
This pattern suggests sustained buying interest at macro support. LINK has been trading near range equilibrium around the $8 level.
Liquidity Pools and Breakout Confirmation Levels
Technical projections identify liquidity pools above $26, $52, and $100. These levels align with previous resistance areas and historical supply zones.
Analysts note that volatility has contracted sharply on the three-week timeframe.
Volatility compression often precedes expansion in trending markets. Traders are monitoring for acceptance above descending trendline resistance.
A confirmed three-week close above the range high would signal structural strength.
CryptoPatel listed upside targets at $26.30, $52.22, and $100.00. From the higher timeframe demand zone, projected expansion ranges between 1,232% and 1,675%.
From the current price area, a move to $100 would represent about 1,110% growth.
Related Reading: Why Chainlink’s Latest Move Could Signal a Major Trend Reversal
Risk Parameters and Market Structure Outlook
The bullish structure remains valid while LINK holds above $4.76 on a three-week closing basis.
This level marks the lower boundary of the higher timeframe demand zone. A close below $4.76 would indicate structural failure.
Analysts state that such a breakdown would open the path for further downside continuation.
Until then, the macro structure remains intact within the broader range. Price compression continues as market participants await expansion.
The setup is described as a high timeframe strategy suited for spot accumulation. It is positioned as a long-term swing structure rather than a short-term trade.
Market observers continue to track confirmation signals to assess whether Chainlink is ready for a 10x move.
Source: https://www.livebitcoinnews.com/is-chainlink-ready-for-a-10x-move-key-levels-signal-massive-upside/
