Chainlink Breaks Out of Bullish Wedge Pattern, Targeting $30-$41

Chainlink’s bullish pennant pattern has been broken, signaling a possible move towards its long-term target of $41. Volume surged during the breakout, indicating strong buyer interest. This follows past successful breakouts from similar bullish wedge patterns, where Chainlink has seen explosive price increases. Analysts attribute this recent rise to expanding DeFi applications and growing institutional investments. Technical signals also support continued upward momentum: the weekly chart shows a repeated bullish wedge pattern, and the daily chart shows a breakout from a bullish pennant structure.