Date: Mon, July 14, 2025 | 05:10 PM GMT
The cryptocurrency market has entered historic territory today, with Bitcoin (BTC) soaring to a new all-time high of $123,000. Ethereum (ETH) is riding this bullish momentum too, posting an 18% weekly gain. This surge of bullishness is lifting major altcoins across the board — and Chainlink (LINK) is among those gaining attention.
LINK has risen by 19% over the past week. While that surge is notable, what’s truly catching the eyes is a harmonic pattern quietly forming on the daily chart. This structure may suggest that a bigger move is on the horizon.
Harmonic Pattern Hints at Bullish Continuation
On the daily timeframe, LINK is currently tracing out a Bearish Bat harmonic pattern — a well-respected setup in technical analysis that typically predicts strong price action during its final stages. The CD leg of the pattern, which is now underway, is historically associated with bullish momentum as price climbs toward the “D” completion point.
This specific Bat pattern begins at point X near $28.07, then declines to point A, rallies to B, and drops again to point C around the $10.94 region. From that recent low, LINK has been steadily recovering and is now approaching the 200-day moving average, currently sitting at $16.31 — a level that often serves as a key resistance and breakout trigger.
If the CD leg plays out in full, the price could rally into the Potential Reversal Zone (PRZ), which spans from $26.11 to $28.07. These levels align with the 0.886 and 1.0 Fibonacci extensions, typical targets for the final leg of harmonic structures.
What’s Next for LINK?
If LINK decisively breaks and holds above the 200-day moving average with increasing volume, it could confirm the ongoing bullish leg and pave the way for a potential 75% rally toward the $28 resistance zone. This would complete the Bat pattern and possibly prompt a round of profit-taking or a reversal, as is often seen at the PRZ.
Nonetheless, the chart is showing a textbook setup, and with the broader market backing bullish sentiment, LINK could be one to watch closely in the coming days.
Disclaimer: This article is for informational purposes only and reflects the writer’s personal views. It should not be considered financial advice. Always conduct your own research before investing in cryptocurrencies.
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