Chainlink (LINK) is poised for a potential breakout toward $16, driven by a falling wedge reversal pattern and increased on-chain accumulation. Key resistance levels are identified at $13.50 and $16, with a successful breakout possibly leading to a larger expansion phase. Institutional investors have increased their holdings by 89,000 LINK, bringing total reserves to 974,000 tokens. Technical indicators suggest a trendline test, with the possibility of reaching $25 if the trendline holds. However, market observers caution that broader market conditions and Bitcoin's dominance will play a significant role in Chainlink's performance.