Chainlink Eyes Major Bullish Breakout as Long-Term Structure Strengthens

Chainlink’s chart shows it’s building strength for a big move, with prices possibly reaching $150–$200 in the coming years.

After this quiet phase around $8–$10, Chainlink could climb fast again, aiming for the $40–$50 range next.

Since 2020, Chainlink has shown steady growth cycles, giving long-term investors more reasons to stay confident.

Chainlink’s long-term chart signals a crucial moment for investors as its market structure forms a bullish setup. According to analyst The Penguin, “$LINK still looks Super HTF bullish.” The analyst maintains that the recent price dip only extends time within the current formation

Besides, the long-term target remains above $100, reinforcing the token’s strong upside potential. The weekly structure, built since 2020, reveals consistent accumulation cycles, pointing toward a possible breakout over the next two years.

The analysis, based on Elliott Wave Theory, outlines Chainlink’s journey through five major impulsive waves beginning in early 2020. The upward momentum peaked in mid-2021 when LINK hit around $53, completing its fifth wave.

Source: The Penguin

Elliott Wave principles are followed by each stage, which exhibits distinct shifts from corrective to impulsive development. Chainlink may therefore continue to grow beyond 2027, according to the multi-year projection, which reflects a long-term cycle of accumulation and distribution.

Consolidation Phase Before the Breakout

After the bottom correction, Chainlink began a new upward phase wave (i), which developed through 2024. However, the token faced another a–b–c correction later that year, creating sideways pressure in the mid-term structure

Moreover, a complex formation marked as (w), (x), and (y) unfolded, keeping LINK in a broad consolidation pattern. Currently, the price movement sits in the lower end of this correction, labeled as wave a, with expectations of reaching $8 to $10 support zones before rebounding into wave b.

Once this correction ends, Penguin anticipates a powerful advance forming wave (iii) that could drive prices between $40 and $50. Furthermore, the extended structure forecasts a complete bullish cycle peaking between $150 and $200 during wave (v)

Every stage exhibits distinct shifts from correction to impulsive growth, in accordance with Elliott Wave principles. As a result, the multi-year projection indicates that Chainlink might keep growing until 2027, signifying a long-term cycle of accumulation and distribution.

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