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Chainlink (LINK) ended its latest session in a holding pattern, with 
indecisive candles and choppy intraday action pointing to a lack of clear 
direction. Traders now look to Bitcoin’s next move for guidance; any 
meaningful shift in BTC dominance could quickly tilt LINK’s price action. 
Until the market leader shows its hand, LINK remains on standby, hovering near 
key support while waiting for a decisive cue. Falling Wedge Holds The Key To 
Chainlink Next Big Move In a recent X post, CRYPTOWZRD provided an update on 
Chainlink&#8217;s daily technical outlook, noting that the daily candles for both 
LINK and LINKBTC closed indecisively. This indecision reflects uncertainty in 
the market as traders await clearer direction. The lack of a strong trend 
suggests a pause before the next significant move. Related Reading: Chainlink 
Bears Push Toward $12.50 As Weekend Volatility Looms The analyst highlighted 
that LINKBTC is currently forming a falling wedge pattern, which is generally 
considered a bullish formation, especially when it appears in oversold 
conditions. He stressed that a breakout from this wedge is essential for 
Chainlink to trigger the next impulsive move upward, signaling a potential 
shift in momentum. CRYPTOWZRD explained that this breakout is more likely to 
occur once Bitcoin dominance begins to decline. As Bitcoin’s grip loosens, 
altcoins like LINK tend to gain strength and follow suit. Therefore, 
monitoring Bitcoin dominance will be key in anticipating LINK’s next move. 
Regarding support levels, CRYPTOWZRD identified $12.50 as the critical next 
support target. A strong reversal from this point could ignite a rally toward 
the $16 resistance level or higher. This level will serve as a crucial testing 
ground for bullish momentum. He concluded by mentioning that his focus remains 
on lower-timeframe charts to identify quick scalp opportunities. While the 
broader trend is developing, CRYPTOWZRD is looking to capitalize on shorter- 
term movements, keeping a close eye on price action and volatility. Choppy 
Intraday Action Keeps Bulls Cautious Wrapping up the analysis, the analyst 
highlighted that LINK’s intraday chart remained sluggish and choppy, offering 
little in terms of clear directional bias. A possible retest of the $12.85 
support level—or even a minor dip below it—could still present a bullish 
reversal opportunity, potentially paving the way for a push toward the $14.40 
resistance target. Related Reading: Chainlink Holders Set Record As 1-Yr MVRV 
Signals ‘Opportunity’ However, the analyst warned that if Chainlink holds 
below the $12.85 level, it could slip into prolonged sideways movement. This 
uncertain behavior will likely hinge on Bitcoin’s overall market direction, 
which continues to heavily influence altcoin performance. With no clear trade 
setup currently in play, the analyst concluded that it&#8217;s best to remain 
patient for a cleaner structure to emerge before making any decisive moves. 
Featured image from Adobe Stock, chart from Tradingview.com

Chainlink (LINK) On Standby: Bitcoin’s Next Move Holds The Key

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