LINK breaks out of descending wedge, everyone is waiting for Supertrend to turn green

[Crypto World] LINK’s recent price action is pretty interesting. The price climbed all the way from $11.60 to $14.68, and even broke cleanly through that descending wedge—this pattern is a classic reversal signal in technical analysis.

Now everyone’s watching the Supertrend indicator. Why? Because once it flips green, historically, there’s usually a solid rally that follows. Of course, technical indicators are ultimately just a game of probabilities.

But the fundamentals are lining up too. Chainlink recently partnered with Figure Technology, a major player with an $8.3 billion market cap. The two are building an RWA tokenization alliance on Solana. This move further cements Chainlink’s core position as a cross-chain interoperability layer—after all, everyone wants to bring real-world assets on-chain now, making the oracle role more important than ever.

Looking at the capital side: Grayscale’s GLNK ETF has already pulled in over $71.7 million, while LINK balances on exchanges have dropped to 217 million tokens, hitting a new low for the year. Tokens are flowing out of exchanges, so there’s less and less available to sell on the market—you know what that kind of supply and demand shift means.