Chainlink (LINK) recently continued to oscillate within the range of $11.72-$14.63, with the latest technical indicators showing clear positive signals. The price has been making higher lows consecutively, and this type of ascending wedge pattern typically indicates potential for an upward breakout.

From a technical perspective, LINK's price movement exhibits a gradual upward trend. Each pullback low is higher than the previous cycle, and this progressive increase is viewed by institutional investors as a sign of strong accumulation. Once the key resistance level of $14.63 is broken, theoretical targets could point toward $16 and higher levels.

Position data is equally worth monitoring. A substantial amount of previously trapped positions in the market are gradually being unwound, and the capital released from this could become a driving force for subsequent gains. Meanwhile, multiple DeFi protocols have recently deployed Chainlink oracle services, further reinforcing market recognition of the project.

It should be noted that technical breakthroughs are not inevitable events. If LINK fails to effectively break through resistance, it may trigger profit-taking. Overall, Bitcoin's performance remains an important variable affecting LINK's trajectory. Additionally, competition in the oracle track is intensifying, with competitors like Band Protocol also developing actively, requiring investors to closely monitor market developments.

At the current stage, whether LINK can effectively break through $14.63 is the most critical observation point.