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Chainlink (LINK) Technical Analysis: Falling Wedge Pattern Points to Potential Rally Towards $19

Chainlink (LINK) Technical Analysis: Falling Wedge Pattern Points to Potential Rally Towards $19

Author:

Global Cryptocurrency

Published:

2026-02-21 11:04:07

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Chainlink LINK News -

Chainlink's LINK token, currently trading NEAR $8.68, appears poised for a significant breakout as it consolidates at the base of a falling wedge pattern. The prolonged compression, with volatility diminishing near critical support levels, historically precedes strong upward movements.

Analysts highlight $14.60 as the key resistance level to watch—a decisive breach could propel prices toward $19. Momentum indicators reinforce this outlook, with the RSI at 58.37 suggesting room for further upside before overbought conditions emerge.

Recent price action shows LINK establishing higher lows after testing $7.00 support, now challenging the $9.00 resistance zone. Market participants anticipate this technical setup may resolve in a powerful trend reversal, marking the end of months-long consolidation.

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