- Chainlink tests key resistance near $18 after bullish breakout from falling wedge pattern.
- RSI strength and rising volume suggest LINK may target $19.50 and possibly $30 soon.
- Growing adoption and partnerships support Chainlink’s momentum and long-term potential.
Chainlink (LINK) has shown renewed bullish strength after retesting its support levels and is now approaching a critical resistance zone. As LINK trades at $16.93, market observers suggest that clearing this resistance will be essential for any further upward movement toward the $30 range.
Technical Structure Shows LINK Nearing Breakout Zone
According to analysis prepared by CryptoWZRD via X, LINK has closed strongly bullish and is currently testing a daily lower-high trendline. The analyst stated, “One more healthy bullish Daily candle will introduce an impulsive move towards the $19.50 resistance.”
The daily chart confirms LINK’s price is trading above the 50-day EMA and forming higher lows. LINK recently broke out from a falling wedge pattern and is now in an ascending channel. The price is also approaching the 61.8% Fibonacci retracement level, which historically acts as a turning point.
Chainlink’s current uptrend began after a bounce from the $12 range. It predicts that LINK could reclaim the $20 mark if this momentum continues, and volume confirms the breakout above resistance. Technical indicators, including RSI and volume spikes, suggest LINK is gaining strength.
Market Activity and Adoption Fuel LINK’s Momentum
Data from CoinMarketCap shows LINK’s daily trading volume has increased by 29%, reaching $349 million. This uptick indicates renewed interest from market participants. On-chain data also shows a growing number of LINK holders, with addresses increasing from 730,000 in January to 761,000 today.
Meanwhile, LINK’s integrations with institutions are expanding. According to CryptoED via X, Chainlink has had recent partnerships or meetings with SWIFT, DTCC, JPMorgan, and BlackRock.
The adoption of its Cross-Chain Interoperability Protocol (CCIP) continues to gain traction in the Web3 space. As LINK approaches the resistance zone near $18, traders are watching closely. A sustained breakout above this level could open the path toward the $30 target.
