Chainlink’s Price Could Surge Past $47: A Technical Breakout Analysis

Chainlink (LINK), a cryptocurrency with increasing DeFi relevance, is poised for a potential price rally. According to recent analysis from More Crypto Online, LINK faces a critical resistance level at the yellow trendline on Coinbase’s weekly chart. This resistance has consistently hindered LINK’s upward momentum. However, if this trendline breaks above, LINK could surge toward the $47 mark in the near term. Technical indicators, including Fibonacci retracement levels and historical support zones, suggest a bullish outlook.