This summary text is fully AI-generated and may therefore contain errors or be incomplete.
An analyst has identified a potential breakout in the price chart of Chainlink (LINK), suggesting a rally towards $20. The breakout is occurring from a bull flag pattern, which is characterized by a pullback after a sharp rally and consolidation within a specific range. The pattern is formed by parallel trendlines, with the length of the flag being at most half the length of the pole. The breakout from the resistance zone indicates a continuation of the initial uptrend. The analyst believes that Chainlink could retest the breakout zone around $14 before potentially rallying towards $20, which would represent a 42% increase from the current price. Despite a recent pullback, Chainlink has seen impressive returns of 85% in the past 30 days, outperforming other top assets and improving its market cap standing. It remains to be seen if the bull flag pattern holds and if the cryptocurrency returns to a bullish trend.