Chainlink Breaks Wedge, Faces Resistance at $13.67 – Will the Rally Hold?

Chainlink (LINK) has broken out of a descending wedge pattern, signaling potential for a shift in its downward trend that began in late 2024. Analysts attribute this breakout to growing DeFi applications and increased institutional investment. The $20 price target could be reached if LINK stays above the crucial support level at $12.93 and surmounts resistance around $13.67. However, the strength of this breakout remains unclear due to low trading volume alongside subdued price fluctuations. A significant price increase for LINK would require confirmation from substantial trading activity and sustained price movement.