The cryptocurrency Chainlink (LINK) has been trading within a falling wedge pattern on the daily scale, which is a reversal pattern. If LINK can break above the descending resistance of this pattern, analysts predict a potential target price of $30.94, a significant increase from its current levels. The volume of trading activity and recent liquidation data also suggest a potential upward breakout. Support levels have held, indicating that traders may be accumulating LINK during periods of lower prices. The first level of resistance is $21-$22, and if this level is surpassed with volume, a breakout towards the target price is likely. Overall, the technical structure of Chainlink suggests a promising outlook for trading and a potential price recovery in the near future.



Other News from Today