LINK has decisively broken out of its long-term descending channel, signaling a dramatic shift in momentum.
has decisively broken out of its long-term descending channel, signaling a dramatic shift in momentum. This breakout comes after months of consolidation and bearish pressure, suggesting a potential trend reversal.
Trading volume has surged by 86.04% to $981.98 million, reflecting increasing market participation. With the price retesting the $15 resistance, $LINK seems poised for a rally toward the $23 target.The retest of the $15 resistance level, a crucial price zone, adds further weight to $LINK’s bullish breakout. This level, now acting as a springboard, could propel the token to a 53% upside, targeting the $23 resistance.
Moreover, a Fibonacci retracement from the previous lows to the recent breakout places the $23 level at a critical resistance zone, confirming its importance in the broader price trajectory.On-chain metrics further support the bullish narrative. The number of active addresses has increased by 1.24% over the last 24 hours, reflecting growing engagement with the Chainlink network.
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