Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Chainlink At A Turning Point: Triangle Pattern Holds, But One Line Must Break

Chainlink At A Turning Point: Triangle Pattern Holds, But One Line Must Break

CryptoNewsNetCryptoNewsNet2025/12/03 03:45
By:newsbtc.com

Chainlink is approaching a decisive moment as its price compresses within a well-defined triangle structure. The pattern remains strong, but the market is signaling that a major move is imminent. Everything now hinges on a single trendline break, one that will determine whether LINK is ready to reverse higher or sink into a deeper correction.

B-Wave Extension Back In Focus: Is The Triangle Still Intact?

According to crypto analyst More Crypto Online in a recent update on Chainlink, it is crucial to step back and examine the bigger picture of the asset’s price action. The analyst believes the market is likely still extending the yellow B-wave correction. At the moment, the analyst is considering that this B-wave may be unfolding as a complex triangle pattern, as seen in the “yellow scenario.”

Despite the triangle hypothesis, the analyst emphasizes that there is currently no evidence that a definitive low has formed. To confirm a structural reversal, LINK requires a clear 1-2 setup to the upside, which would signal the start of a new impulsive trend. As stated in previous updates, a confirmed bottom hinges on a break above the first yellow trendline.

Chainlink At A Turning Point: Triangle Pattern Holds, But One Line Must Break image 0

The triangle pattern, which typically unfolds as a 5-wave structure (A–B–C–D–E), remains valid for now, without a confirmed low. This pattern suggests that the price will continue to consolidate sideways, trapping both bulls and bears.

More Crypto Online defined the critical invalidation point for the primary count. If the price were to break below the Monday, April 4th, low at $10.20, the current triangle microstructure would be entirely invalidated. Meanwhile, the broader B-wave correction would still be theoretically possible, but would likely unfold in a different structural path.

Critical Support Cluster: $10.70, $8.94, And $6.90 In Focus

More Crypto Online went further to highlight the next crucial support levels if the current triangle structure fails, which are located at $10.70, $8.94, and $6.90. The analyst cautioned that a definitive break below the $6.90 mark would significantly increase the probability of an alternative scenario for Chainlink: the unfolding of a larger degree Wave 4.

For now, the immediate focus is on how the price reacts within the key Fibonacci support zone defined by the boundaries of $6.90 and $10.70. The analyst concluded by stating the necessary condition for a structural low: the earliest sign of a reversal would be a break above the yellow trendline. Until that happens, the trendline continues to act as firm resistance, keeping the local downtrend structurally intact and signaling that caution remains necessary.

Chainlink At A Turning Point: Triangle Pattern Holds, But One Line Must Break image 1
Featured image from Pngtree, chart from Tradingview.com
0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

The HYPE Token Crypto Rally: Unveiling the Driving Force Behind Its Week-Long Surge

- HYPE Token's 7-day surge in late 2025, reaching $35.08, was driven by protocol upgrades, institutional backing, and retail FOMO. - Institutional investments like Paradigm’s $581M stake and retail-driven momentum mirrored the 2021 Dogecoin rally. - However, looming token unlocks and bearish indicators, including a $11B unlock of 237M tokens, raised sustainability concerns. - Technical analysis showed mixed signals, with consolidation near support levels and short-term volatility risks, while broader trend

Bitget-RWA2025/12/16 05:58
The HYPE Token Crypto Rally: Unveiling the Driving Force Behind Its Week-Long Surge

How CFTC-Recognized Platforms Such as CleanTrade Are Transforming the Landscape of Clean Energy Investments

- CFTC-approved CleanTrade introduces a regulated SEF for clean energy derivatives, addressing market fragmentation and liquidity gaps. - The platform enables institutional-scale trading of vPPAs/RECs, achieving $16B notional volume in two months by aggregating demand/supply. - Integrated risk analytics (e.g., CleanSight) enhance transparency, allowing investors to hedge project-specific risks like grid congestion and curtailment. - Dual investment pathways attract hedge funds/pension funds through direct

Bitget-RWA2025/12/16 05:26
How CFTC-Recognized Platforms Such as CleanTrade Are Transforming the Landscape of Clean Energy Investments

The Rise of CFTC-Regulated Clean Energy Markets: Opening a New Chapter for Institutional Investors

- CFTC's 2025 approval of REsurety's CleanTrade as a SEF marks a landmark shift in clean energy markets by introducing standardized, transparent trading for VPPAs and RECs. - The platform attracted $16B in notional value within two months, enabling rapid institutional-grade transactions that previously took months to negotiate. - By addressing liquidity gaps and enabling precise risk modeling, CleanTrade is accelerating capital flows into decarbonization while bridging ESG investment gaps for institutional

Bitget-RWA2025/12/16 04:44
The Rise of CFTC-Regulated Clean Energy Markets: Opening a New Chapter for Institutional Investors

The Increasing Overlap Between Health and Financial Wellbeing in Managing Personal Finances

- Global wellness economy to hit $9 trillion by 2028, driven by holistic well-being trends. - Millennials/Gen Z prioritize wellness as lifestyle, with 55% spending over $100/month on health. - Employers integrate financial wellness into health programs to reduce burnout and boost productivity. - Investors target wellness-driven SaaS, healthcare tech , and financial literacy platforms for holistic solutions.

Bitget-RWA2025/12/16 04:22
The Increasing Overlap Between Health and Financial Wellbeing in Managing Personal Finances
© 2025 Bitget