Key Takeaways
There was a flurry of bullish news for Chainlink in recent weeks. Signs of accumulation and steady buying pressure meant that LINK would likely see further gains.
Chainlink [LINK] saw positive news developments in recent weeks.
The partnership with Japan’s SBI Holdings and the Bitwise Chainlink ETF filing were bullish catalysts for the altcoin, driving traction in the derivatives market.
The addition of LINK to the Chainlink reserve also reinforced the long-term sustainability of the network.
Bringing macroeconomic data onchain together with the U.S. Department of Commerce also brought interest from investors.
Source: Ali Charts
On top of the positive news, the long-term price action showed a symmetrical triangle pattern.
In a post on X, crypto analyst Ali Martinez pointed out that a bullish breakout from this pattern could see LINK go parabolic.
The chart posted outlined a price target of $102 in the coming months.
Author: Akashnath S
