 
 
Chainlink (LINK) appears poised for its next surge as intensified consolidation within a falling wedge structure signals a potential breakout.
According to market analyst JustCryptoPays, “A sustained move above the yellow trend line is key. It would confirm the breakout and likely open the path to the $31 range.”
Therefore, LINK must break above $23 to boost its odds of reaching the $31 range.
Chainlink currently trades at $23.35, comfortably above the key $22 support zone, signaling potential upward momentum.
Market commentator RISK opined, “The shaded demand zone between $21.50–$22.30 has acted as a solid accumulation base, with buyers stepping in on every dip.”
 
Chainlink’s narrowing wedge signals consolidation, with higher lows highlighting underlying buying pressure. A breakout above resistance could confirm the pattern and trigger renewed investor interest, potentially fueling rapid upward momentum.
RISK added, “A breakout above wedge resistance could trigger rapid momentum toward $25.50 and $27.00 levels.”
Rising volume is confirming LINK’s potential breakout, as heightened trading activity signals strong market interest. Historically, breakouts with robust volume sustain momentum, boosting the chances of reaching higher resistance levels.
For LINK, $25.5 is the immediate target, while $27 and $31 serve as key psychological and technical levels.
Meanwhile, Bitwise recently filed for what could become the first US Chainlink spot ETF, intensifying competition in the altcoin fund space.
Notably, the Bitwise Chainlink ETF would enable investors to gain LINK exposure through a traditional brokerage, without requiring direct cryptocurrency holdings.
Source: https://zycrypto.com/chainlink-charging-up-wedge-break-could-hit-31/