Chainlink is gaining ground against Bitcoin as it breaks above the multi-month downtrend line. With Chainlink infrastructure being adopted by institutions and banks, the hype around the network has uplifted LINK, and an analyst predicts it will hit $100 very soon.
LINK/BTC pair breaks downtrend lasting since 2025
Chainlink has started to strengthen against the flagship crypto Bitcoin, as the LINK/BTC pair breaks above a multi-month downtrend line. The pair has been on a downtrend, making lower lows and lower highs since the end of 2024.
But now the tables have turned as the LINK/BTC pair is starting to rise after hitting the bottom level. According to Michael van de Poppe, an analyst, this is just the beginning of the new uptrend, and the pair will keep on gaining momentum.
Upon further inspecting the chart, it could be seen that there is also another major bullish sign that appeared on the daily chart. And this is also another technical sign that shows the bullish outlook.
LINK has more room for upside as it breaks out
The 50-day MA has crossed the 200-day MA, making a golden cross. The crossover suggests that recent price momentum is becoming stronger than the asset’s longer-term trend, indicating a potential shift toward a sustained bullish trend. Traders often view a Golden Cross as a sign that buying pressure is increasing and that an asset could have further upside.
Since LINK has broken out from a symmetrical triangle, it still has more room for price appreciation. Going by the principle of breakout from a symmetrical triangle, a breakout usually from this pattern reaches the height of the wedge at its widest point. Given that LINK’s breakout is conventional, there is more upside in the rally.
LINK could hit $100 in the coming years, says analyst
A crypto analyst who goes by the pseudonym Crypto Patel mentioned that LINK could hit $100 in the coming years, not just based on the technicals but also on the adoption of the Chainlink infrastructure. The analyst reflected on how DTCC, JPMorgan, and CME, Robinhood, OKX, Aave, and BitGo are adopting Chainlink as it becomes the infrastructure for tokenized assets.
