Chainlink Price Predictions: Will LINK Break the Wedge and Rally to $16 Soon?

Key Insights:

• Chainlink price reclaimed $13 with breakout targets at $16 and $19.50 in focus.
• LINK gains momentum as Mastercard integration enables on-chain crypto purchases.
• Analysts track the 200-week MA reclaim as a key signal for a major trend reversal in LINK price.

Chainlink price is holding above $13 as bulls regain control following a breakout from recent downtrend resistance. With LINKBTC coiling for a move and Chainlink’s strategic Mastercard partnership fueling mainstream interest, analysts are now eyeing a potential push toward $16.00 and possibly $19.50.

Chainlink Price Flips Resistance Amid Bullish Wedge Breakout

Chainlink price reclaimed the descending resistance line that has capped rallies since mid-April, closing above $13.40 on June 24. CryptoWZRD confirmed the bullish breakout, noting that further upside is likely, particularly if LINKBTC rallies in tandem.

The chart structure identifies the next resistance seen on the chart at $16.00, with the macro-target at $19.50. The two levels coincide with the previous rejection zones and clusters of volumes. The formation of the falling wedge pattern, followed by the bullish intraday reversal of the price at $12.85, indicates that a solid foundation has been built.

Currently, the support holds at $12.50, and the structure remains bullish as long as the support at this level holds. Volume and momentum are picking up, confirming breakout conditions. If LINK price clears $14.50, it may trigger a short squeeze toward $16.

200-Week Moving Average Reclaimed

According to analyst Jesse Olson, Chainlink price is attempting to regain the 200-week moving average, often considered a macro trend indicator. Olson provided a chart in which a higher low formation can be seen at around $12.70, with a bullish crossover all set to confirm.

A break above the 200-week MA on clean closing might be an indication of a potential reversal, just like such in the previous bull markets. The chart also has Parabolic SAR support that reverses under price and a potential cup and handle forming on most time frames.

As long as Chainlink price maintains daily closes above $13.00, the probability of upside continuation remains high. The next resistance is now seen at the $14.80-$15.00 range, followed by a long run to the February high at $19.50.

Chainlink Partnership With Mastercard

Fundamentally, Chainlink’s partnership with Mastercard has strengthened its adoption narrative. In an official announcement, Chainlink confirmed its infrastructure will help verify and synchronize key transaction data for Mastercard cardholders using the new swapperfinance platform.

The integration involves players such as ZeroHashX, Shift4, and Uniswap, supporting Chainlink’s oracles in real-world fintech use cases. The development will facilitate billions of Mastercard holders to rely on crypto transactions with institution-quality verification. Analysts believe this is a pivotal step in mainstreaming Chainlink’s role in on-chain data validation and financial interoperability.

More so, the announcement has already boosted sentiment, with LINK price seeing a 4.5% daily gain shortly after news broke. The timing of this development, coinciding with technical breakout signals, adds confidence to the thesis that Chainlink is entering a new expansion phase.

Chainlink Price Intraday Setup Favors $14.50–$16 Targets

The intraday outlook remains volatile but presents trading opportunities. According to the analyst, LINK price pulled back to the $12.85 intraday support before rebounding strongly. A hold above this zone would confirm the approach to $14.50, and momentum will most likely increase in case the pattern is still intact.

Traders tracking the lower timeframes have also noted that LINK price is forming higher lows while breaking through micro-resistance bands. The setup favors scalps and short-term continuation plays. Chainlink price has coiled below a group of resistance, and a breakout above $14.20 will be able to trigger a quick run-up to the $15.80 levels.

However, in case the price fails to hold at $12.85, then bears can retest close to the price of about $11.80.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.