๐จ *LINKโs Ascending Wedge Breakout Incoming?* ๐๐ฅ
Chainlink (LINK) is currently trading at *13.16*, and it's moving inside a classic *ascending wedge* pattern โ a setup that often precedes a *strong breakout* (either up or down, but momentum favors the bulls here) ๐ฅ
๐ง Whatโs Happening:
- The price is squeezing between *higher lows* and a rising resistance trendline.
- Volume is gradually decreasing โ typical before a *volatile move*.
- Support from the broader market (especially ETH/BTC strength) could fuel an upside breakout.
๐ Scenarios:
โ *Bullish breakout:*
If LINK closes convincingly above the upper wedge trendline, we could see a rally toward:
- *T1:* 14.20
- *T2:*15.60
- *T3:* 18.00+
โ *Bearish breakdown:*
If support fails, the wedge could flip bearish short-term, possibly retesting11.80โ$12.00.
๐ Prediction & Strategy:
- Keep an eye on volume โ *a breakout without volume is a fakeout*.
- If youโre bullish, consider entries near support with stop-loss below the wedge.
- If price breaks out cleanly, expect a strong impulse leg as LINK remains a *key oracle player* with growing adoption in DeFi and TradFi ๐๐
๐ TLDR: A breakout is brewing. Momentum leans bullish. Be alert! ๐งจ๐