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Chainlink (LINK) and Raydium (RAY) are signalling a potential breakout as bulls look to reclaim control.

Another altcoin showing significant movement, despite paring recent gains is Pendle (PENDLE), which has attracted whales amid growing traction for decentralised finance protocols.

As Bitcoin, Ethereum and Solana have seen slight declines in the past 24 hours, LINK has surged nearly 4% to hit highs of $12.06.

While Chainlink price has retreated from this level and hovers near $11.59, bulls remain close to a key horizontal resistance line.

The area marks the $12.00 as a key supply wall area above which buyers could hit important targets.

Downturn pressure in September saw bears curtail a potential channel breakout.

The price ceiling saw LINK dipping to the critical support level at $11.00, where buyers have shown notable strength as the price floor offered an opportunity.

If bulls reclaim an upper hand with fresh momentum, a retest of the upper resistance line could lead to a new multi-month high.

Key targets are $14 and then a year-to-date peak above $22 on the upside.

Meanwhile, Chainlink could revisit lows of $8 or lower if bears overpower bulls with a potential bearish flag pattern.

Raydium (RAY) reached its highest price level since April 2022 with a spike to $3.15 in early trading on Friday.

Despite paring some of the gains, the decentralized exchange’s native token remains nearly 30% up in the past week. The token’s value is close to 80% up in 30 days.

Frenzied activity has the trading volume increasing by over 54% in the past 24 hours, and RAY price trades well above a recent breakout point.

This followed a symmetrical triangle pattern breakout, which caught several traders unaware.

Bulls are likely to continue higher amid a resurgence in meme coin activity.

However, a breakdown would bring the primary support area near $2 into play. On the upside, Raydium price could target short-term surge to new multi-year highs.

Pendle (PENDLE) has declined 6% in the past 24 hours to rank among the top losers in the top 100 categories by market cap.

The altcoin also struggled in September amid Arthur Hayes’ dumping.

Despite the dip, PENDLE remains more than 9% up this past week and is among the coins to rally higher in the past year amid a fresh interest in DeFi.

As a top yield tokenization protocol, Pendle has enjoyed notable growth within DeFi as users look to tap into yield trading.

This has translated to upside potential for PENDLE. The token’s price over the past year is +496% at the time of writing.

Per the chart above, Pendle price is hovering at the critical zone below which sellers may eye $3.67.

On the upside, a breakout above $5.13 could allow bulls to target YTD highs around $7.50.

The post LINK and Raydium (RAY) lead altcoins as PENDLE pares gains appeared first on Invezz

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