The cryptocurrency, Chainlink (LINK), has experienced a significant bullish breakout after forming a symmetrical triangle pattern on the monthly trading chart. The breakout occurred around the $25 price level and suggests strong bullish momentum and a shift in market dynamics favoring buyers. There are indications of increasing institutional interest in LINK, with large whale activity and high-profile acquisitions. The token's network activity has also been increasing, supported by positive onchain metrics. Derivatives trading in LINK has seen a significant increase, with open interest rising by 17.17% in the past 24 hours. From a technical perspective, the breakout projects a potential rally of 600-650% with a future target price range of $100 to $120. However, traders should be cautious of retracements, as a drop below the breakout level could negate the bullish outlook.



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