#Chainlink whales have been accumulating tokens steadily for the last two months. $LINK price is trending in a falling wedge and targeting $16. A decline below the $10 support would signal weakness in the market and invalidate the bullish thesis.

#LINK price is currently trending downwards within a falling wedge pattern. Price action is also below the 50-day (green line) and 200-day (black line) exponential moving averages (EMA), indicating bearish momentum. However, the falling wedge is a bullish reversal pattern, signaling a possible breakout to the upside.

The main support levels for LINK price are $11.4 and $10. The former aligns with the lower bound of the falling wedge, while the latter represents significant historical support below the market structure. On the other hand, Chainlink has significant resistance levels at $13.92 (50-day EMA), $14.78 (200-day EMA), and $16.00, which coincide with the falling wedge upper boundary.

The #Chainlink price prediction shows that if it falls below $10 and fails to rise above it, it will signal market weakness. LINK price will form a lower low, signaling a market reversal and invalidating the bullish thesis supported by the falling wedge pattern. Chainlink price may find more support near $8.11.