Chainlink (LINK) price has rebounded by over 240% from its yearly low of around $4.70 in June 2023. It may rise further still in the coming days and weeks, according to a slew of on-chain and technical indicators, as discussed below.

LINK price nears ascending triangle breakout

LINK’s price has been consolidating inside what appears to be an ascending triangle pattern since November 2023.

Ascending triangles are bullish continuation patterns when formed during an uptrend. They resolve when the price breaks above the upper trendline and rises by as much as the maximum distance between the upper and lower trendlines. 

It appears LINK eyes a similar breakout scenario in December 2023, now…

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