- Chainlink (LINK) eyes a 117% breakout target after exiting a multi-month descending channel.
- Dogecoin (DOGE) confirms a falling wedge breakout, signaling a potential rally to $0.30.
- Cardano (ADA) breaches channel resistance, supported by rising volume and bullish candlestick patterns.
In a dramatic turn for the altcoin and meme coin market, Chainlink (LINK), Dogecoin (DOGE), and Cardano (ADA) are capturing crypto investors attention with robust 24-hour rallies and compelling technical breakouts that hint at a broader bullish trend. With the currently improving crypto market outlook, these assets are not only having notable price increases of anything between 4% up to 6% they are also crossing key resistance levels that may open the door for further gains. While it appears that some of these altcoins have managed to see trend reversal from their long-term bearish trends, investors are waiting and wondering if this strong up move can now be translated to a positive performance across all altcoins.
Chainlink (LINK)
Chainlink (LINK) has experienced a robust price rally, climbing 6.03% over the past 24 hours to trade at $14.79 as of the latest update. The token briefly dipped to around $13.50 later on May 7 before rising and reaching as high as $14.79 at mid-May on May 8. The soaring price was coupled with the increased crypto market capitalization, which stood at $9.72 billion, and trading volume by 14.64% to $325.73 million proved investment interest. Currently, there are around 657.09 million LINK in circulation out of the total supply of 1 billion, and fully diluted, Chainlink is worth $14.79 billion, which shows that investors have more trust in the LINK token in the long run.
Source: CoinMarketCap
According to CliftonFX , Chainlink (LINK) is on the verge of a significant bullish breakout after testing the upper boundary of a long-standing descending channel on the daily chart. Currently trading at around $14.79, LINK appears to be breaking out of the bearish structure that has contained its price action since early 2025. Clifton Fx highlights a potential price target of $31.00, representing a 117% upside from current levels if the breakout is confirmed and sustained.
Source: X
Dogecoin (DOGE)
Dogecoin (DOGE) saw a notable price uptick over the last 24 hours, gaining 5.37% to reach $0.183 amid a broader crypto market upswing. The memecoin rebounded sharply from a low near $0.169 late on May 7, climbing steadily through early May 8 trading hours. DOGE’s market capitalization now stands at $27.31 billion, supported by a significant 22.78% increase in 24-hour trading volume, which topped $1.01 billion. With a circulating and total supply of 149.17 billion DOGE and no maximum supply cap, investor enthusiasm appears renewed, reinforcing Dogecoin’s position as the 8th-largest cryptocurrency by market cap.
Source: CoinMarketCap
According to Javon Marks, Dogecoin (DOGE) has confirmed a bullish breakout from a long-term falling wedge pattern, a historically reliable reversal signal, suggesting a significant upside move could be imminent. The 12-hour chart sees DOGE punch through the upper resistance trendline of a wedge pattern that was in the making for about four months, all while the Relative Strength Index (RSI) showed bullish divergence as price made lower lows while RSI made higher lows. This technical buildup, together with a price bounce off the $0.1866 support, this view, and implies that Ether could be headed for further gains in the coming weeks to 0.25-0.30 dollars.
Source: X
Cardano (ADA)
Cardano (ADA) was up 4.43% on a 24-hour basis, and it traded at $0.716 after experiencing a bearish trend to below $0.66 on May 7 in the late trading session. The price recovery began with the day’s opening on May 8, which saw ADA experience a steep upward move and extended to the mid- day. At the time of writing, the market capitalisation stands at $25.3 billion, while the 24-hour trade volume jumped 26.12% to $809.91 million; thus, the mood in the crypto market is upbeat. At the time of writing, ADA has a circulating supply of 35.3 billion out of a total supply of 45 billion, making its fully diluted market capitalization of $32.25 billion, which puts it among the ten largest digital assets by this metric.
Source: CoinMarketCap
As per trader Ali, ADA has given a breakout from a bearish channel on the $4H chart, which means a change of trend is possible, as it tests the upper trend line of the declining parallel channel. Since the consolidation started in the later part of April, ADA has moved above the midline and is at around $0.7083, just touching upon the upper border of the descending trendline. This breakout is in congruence with an uptrend after which a strong bullish candlestick was formed, suggesting that there was accumulation pressure. If price continues to go up and this breakout is confirmed, this means that ADA’s bearish run is refuted and a rally could be expected in the subsequent crypto trading sessions.
Source: X
