Chainlink price prediction – Mapping LINK’s road to $30 on the charts – BitRss

• LINK ($19.63)’s descending wedge pointed to a bullish breakout, with $23.92 resistance as the critical level
• Market sentiment strengthened as Open Interest rose and exchange reserves continued to decline

Chainlink [LINK] has been grabbing the attention of the market with its steady consolidation and potential for a major breakout. Trading at $20.17 following a 0.62% hike at press time, the cryptocurrency seemed to be showing signs of strength within a descending wedge pattern. 

With resistance at $23.92 acting as a critical level, LINK could be on the verge of a significant rally towards $30. Will the market momentum support this bullish trajectory?

What does the price action reveal?

LINK’s price action has remained confined within a descending wedge, characterized by lower highs and lower lows. However, this structure is commonly associated with bullish breakouts, especially as prices approach the apex of the wedge.

Consequently, a breakout above the $23.92 resistance could trigger a surge towards $30 – A level that may attract significant interest. 

On the downside, a failure to break above resistance could lead to further consolidation, delaying the bullish scenario. Therefore, the coming days will be crucial in determining LIN…