Chainlink (LINK) Price Gets Ready For Another Leg Up, Can It Reach A New All-Time High In This Cycle?

The Chainlink price has had a mixed performance since the turn of the new year, running up to $24 early on in 2025 before witnessing a severe pullback

Chainlink (LINK) has had a mixed performance since the beginning of 2025. The altcoin began the year with a strong rally, reaching highs of nearly $24 in the first week. However, a sell-offịp followed shortly after, pulling the LINK price down to below the $20 support zone.

But, reflecting the improving market climate, the cryptocurrency has been recovering nicely from the sell-offịp. The altcoin is now eyeing another leg up, which could see the Chainlink token return to its all-time-high price. Here’s how.

Chainlink Price For Another Leg Up

In a post on Saturday, January 18, a popular crypto analyst on social media platform X shared his bullish outlook for the Chainlink price over the next few weeks. While the LINK token has mostly struggled over the weekend, this sluggishness has barely made a dent in the altcoin’s performance in the past week.

Renowned crypto pundit Ali Martinez took to X to explain how the Chainlink price is poised for over a 100% rally in the current cycle. This bullish prediction is based on the formation of a bullish flag on the Chainlink price chart on the four-hour timeframe.

In technical analysis, the bull flag pattern is often considered a strong continuation pattern for upward price trends. The bull flag pattern is characterized by a period of almost vertical upward price movement (the flagpole), which is then followed by a consolidation period (the flag itself). In some scenarios — as seen in the chart below — the flag could be a little tilted downward.

As highlighted by Martinez, the LINK price seems to be breaking out of the consolidation range of the bull flag. A successful close above the upper boundary of the flag could see the price of Chainlink move significantly to the upside.

The price target from the bull flag pattern is usually calculated by measuring the length of the initial flagpole and adding to the price at the breakout level. Using this method, the potential price target from this bullish setup sits around the $50 mark.

This would represent over a 100% surge for LINK from the current price point. Moreover, this potential rally could see the Chainlink token return to its all-time-high price of $52.7, which was forged in May 2021.

Chainlink Price At A Glance

After briefly reaching above the $25 level in the early hours of Saturday, Chainlink has now retraced to around $24. As of this writing, the LINK token is valued at $24.13, reflecting an almost 6% downturn in the past 24 hours. Nevertheless, the Chainlink price is up by about 20% in the last seven days, according to data from CoinGecko.