Chainlink (LINK) Poised for Bullish Breakout as Analysts Target $30+ Surge
Chainlink (LINK) is gaining momentum as technical analysis reveals a potential bullish breakout. The cryptocurrency is currently trading around $16.45, reflecting a 4.05% daily increase, with trading volume spiking to $308.9 million. Analysts have identified a falling wedge pattern on the 4-hour chart, a classic indicator of bullish reversal.
The $16.20 support level has held strong, boosting Optimism for a potential rally toward the $18–$30 range. Traders are closely monitoring whether LINK can maintain its position above key moving averages. This breakout attempt follows a period of consolidation between descending trendlines, with the recent volume surge suggesting strong institutional interest in the asset.