Chainlink Price Analysis: Wedge Pattern Fakeout may Pump LINK by 15%

The LINK sellers' failed attempt to follow through on wedge pattern fallout triggers a rounding bottom recovery. As a result, the altcoin renters the wedge pattern indicating a bear trap.

Timeline of Chainlink

Chainlink's native crypto LINK kicked off the week in a bullish tone, igniting hopes of a breakout. The signs of a strong upside are there but there are a few factors that may prevent it from achieving that goal.

Chainlink price analysis suggests an upwards movement to $8.20 LINK faces resistance at the $7.96 mark The closest support level lies at $7.20 The ChainLink price analysis shows that LINK has initiated a swift recovery with the bulls climbing past the $7.750 mark and attempting to break past the $8.00 mark.  The broader.

The prolonged retest phase of the falling wedge pattern indicates a lack of commitment from sellers to continue the prevailing downtrend. The buyers may take advantage of this consolidation to trigger a false pattern breakout.

Chainlink (LINK) is in a downward correction as the altcoin continues its sideways movement. On May 30, the bulls broke the 21-day moving average line, but failed to keep the price above the $8 resistance level. This will be the second rejection of the recent high.

Chainlink price analysis shows that LINK/USD has regained its bullish momentum, spiking above $7.29. The bulls are looking to take the price past $7.45 while the bears will be hoping to defend $6.78 and push the price lower.

Chainlink will provide price feed data options to Solana for Defi support, announcing its price feed technology was already launched so let's read more today in our latest Chainlink news. Chainlink will provide live price feed data that has been launched on the Solana network and the information will help Solana developers use live price

Blockchain oracle platform Chainlink has announced the launch of its price feeds on the Solana mainnet. Developers of Solana can now use the live price information for various financial services.

ChainLink price analysis for June 4, 2022, reveals the market following a bearish movement, obtaining some positive momentum, signifying a gain of positivity for the LINK market. The price of ChainLink has remained negative over the past few hours.

Industry-standard price oracle networks for DeFi applications, Chainlink Price Feeds are now live on the Solana mainnet. Chainlink Price Feeds Go Live on Solana Blockchain According to a press release issued today, Chainlink Price Feeds are now live on the…

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the opinion of the writer. Chainlink has formed a range between the $7.83 and $6.29 levels (yellow) over the past three weeks.