Chainlink (LINK) has experienced a significant drop in price recently, falling 22% from its local supply zone to test support at $20. However, market sentiment remains optimistic as analysts and investors anticipate a strong recovery. Analyst Carl Runefelt believes that LINK is trading within a bullish falling wedge pattern, and a breakout above the descending resistance could lead to a substantial upward move. Chainlink's strong fundamentals and growing adoption in DeFi and blockchain ecosystems make it a promising altcoin. The immediate challenge is reclaiming lost ground and pushing above the wedge's resistance. Chainlink's ability to do so will shape its long-term trend. If LINK holds above the critical $20 support level, it could rebound toward $25 and trigger a broader rally. On the other hand, a break below $20 could lead to a deeper correction.



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