Chainlink’s Upward Trend at Risk: Consolidation Signals Potential Shift

Chainlink is currently perched near a long-term support trendline that emerged around mid-2023, with the price action residing in a critical make-or-break zone within the low-to-mid teens. Trading volume has surged significantly while price movement remains relatively contained, a common pattern observed before sharp market movements. The next three days will be crucial: a confirmed bounce above this trendline and higher lows could revive bullish momentum, while a decisive break below support risks a deeper structural shift in the asset’s trajectory.