๐๐ก๐๐ข๐ง๐ฅ๐ข๐ง๐ค ($๐๐๐๐) ๐ ๐จ๐ซ๐ฆ๐ข๐ง๐ ๐๐ฎ๐ฅ๐ฅ๐ข๐ฌ๐ก ๐๐๐ญ๐ญ๐๐ซ๐ง โ ๐๐๐ง ๐๐ญ ๐๐ซ๐๐๐ค ๐๐๐จ๐ฏ๐ $๐๐?
๐น Current Price: $13
๐น Pattern: Descending Broadening Wedge
๐น Breakout Signal: Close above $14 with volume
๐น Targets After Breakout: $17.50 โ $19.30 โ $26.00
๐ข Setup Breakdown: Descending Broadening Wedge
Chainlink is forming a bullish wedge where each swing low and high is expanding downward โ a structure that often ends with a strong breakout to the upside.
๐ This wedge began forming during the last few months as price declined from above $19. LINK now trades around $13, hovering just below the wedgeโs upper trendline.
๐ What Traders Need to Watch
To confirm the breakout:
โ Price needs to close above $14
โ Volume should increase on the breakout
โ RSI should break out of neutral (currently hovering near 50)
Once that happens, short-term and mid-term traders may target:
๐ฅ $17.50 โ Previous resistance from March
๐ฅ $19.30 โ Psychological & Fib extension
๐ฅ $26.00 โ Full measured move of wedge
โ ๏ธ Risk Side: What Invalidates This Pattern?
If LINK fails to hold above $12.20โ$12.00, this would break wedge support and possibly lead to a retest of $11. Traders should stay cautious if volume fades or price rejects $14 again.
๐ Why Chainlink Still Has Long-Term Strength
๐ธ LINK is used by over 1,000 dApps across DeFi and RWAs
๐ธ Oracle integrations are growing rapidly in 2025
๐ธ Chainlink's CCIP protocol adoption continues expanding among institutions
This keeps long-term sentiment bullish, even if short-term moves fluctuate.
๐ง TL;DR for All Traders
LINK is nearing the breakout point of a bullish wedge pattern
Confirmation level = $14
Breakout targets = $17.50 โ $19.30 โ $26.00
Watch volume, RSI, and wedge structure closely