This Chart Shows Chainlink (LINK) Is Ready to Explode Past $30

Chainlink (LINK) is getting noticed in the crypto market as people watch its recent price changes. It broke out of a falling wedge pattern and descending channel

Chainlink (LINK) has been a coin that several crypto traders have been keeping an eye on due to recent price movements and analysis. After breaking out of a falling wedge pattern and a descending channel, some analysts believe that the stage is set for a potential surge in LINK’s price.

Several crypto analysts on X have posted about possible upward momentum for LINK. One recent analysis, which used Heikin Ashi candles, showed LINK breaking out of a falling wedge pattern. The price had been steadily decreasing since December, forming lower highs and lower lows before finally consolidating within the wedge.

This breakout was confirmed as the price broke above the descending resistance line. Immediate resistance is expected at $18.50, with the next key levels at $20 and $31. A retest of the breakout zone between $15 and $16 remains a possibility before further upside. The bottom of the wedge, around $14.50-$15, now provides strong support.

As reported by PEAK-A-BOO $LINK falling wedge breakout, we see you 😍https://t.co/sL3pDTgyoN.

One crypto expert, Satoshi Flipper, also noted the breakout in a recent post. In a tweet on Thursday, Flipper said, “PEAK-A-BOO $LINK falling wedge breakout, we see you 😍.”

Another analysis of LINK showed the coin trading within a descending channel, with the price action approaching a key accumulation zone between $10 and $12. At these levels, LINK has historically seen strong buying interest, which might launch the coin into a new trend.

" #LINK in a descending channel, which could push it into a key accumulation zone. Looks bearish, but it could be a solid buy spot. If support holds and the market picks up, a breakout could lead to strong gains," crypto analyst RisHad stated.

If the chain of support holds, LINK’s price may rally past $18-$20, targeting resistance levels at $28 and $32-$34. However, if the support fails to hold, we might see further declines, with the next potential floor around $8.

What happens with the broader market and Bitcoin’s price will heavily impact where LINK goes next. If it stays above $18.50, that would be a good sign, but dropping below $14.50 could mean more sideways movement.

Traders are also keeping an eye on trading volume and looking for confirmation of the breakout to figure out what’s next. With growing interest in Chainlink’s price movements, market participants are awaiting further validation of the breakout. If momentum continues, LINK could be set for a strong rally toward its projected targets.