Chainlink has maintained a consistent price pattern since 2018, and this trend seems to be driving its long-term move. Technical analyst CW (@CW8900) noted this and posted it on X. The analysis centers on a distinctive ascending channel formation that has governed LINK’s price action since 2018.

LINK’s price path has consistently respected the boundaries of this ascending channel over the past six years. CW notes that the current cycle hasn’t yet crossed the channel’s middle line – a critical threshold that has historically preceded significant price movements.

Breaking Down the LINK Channel Structure

The ascending channel consists of three key elements: a lower support line, an upper resistance line, and a middle line that acts as a dynamic pivot point. According to CW’s analysis, LINK price is currently approaching this crucial middle line, setting up for what could be a decisive moment in its price evolution.

“As it breaks through the middle line, an explosive rise will begin,” CW explains. His confidence stems from historical precedent – previous instances of LINK crossing this middle threshold have consistently led to dramatic upward movements.

CW’s analysis points to ambitious yet technically supported price targets. He anticipates the cycle’s peak forming at the channel’s upper boundary, with potential prices ranging from $140 to $180 depending on the timing of the move. This projection would represent roughly an 8x increase from current levels.

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What makes CW’s analysis eye-catching is the pattern’s longevity. Having held since 2018, this channel has demonstrated reliability in predicting LINK’s major price movements. The analyst suggests that the current setup mirrors previous patterns that preceded substantial rallies.

While CW’s technical analysis presents a compelling case for LINK’s potential upside, it’s worth noting that timing remains a critical factor. The exact price target within the $140-180 range depends on when LINK reaches the channel’s upper boundary, given the structure’s ascending nature.

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