Chainlink (LINK) has seen a stellar rise, rallying by 31% over the past few sessions and currently trading at $14.21. This upward momentum has been fueled by increased demand for Chainlink’s Oracle technology and significant outflows from exchanges, signalling strong accumulation by investors. With LINK nearing $15, traders are closely monitoring whether it can sustain this breakout.
Key Levels for LINK to Watch
- Support levels:
- $12.98: Immediate support from the recent breakout zone.
- $12.37: The 20-day EMA, which continues to trend higher alongside the price.
- $11.75: The 50-day EMA, providing a solid safety net.
- Resistance levels:
- $14.85: A key resistance zone that must be cleared to sustain momentum.
- $15.00: A psychological and technical barrier that could trigger further upside.
- $16.50: A long-term target if LINK breaks above $15 decisively.
Can LINK Maintain Its Momentum?
LINK’s recent surge positions it as one of the most-watched altcoins in the market. A break above $15 could open the door to $16.50 or higher, while failure to hold above $12.98 could lead to a retest of the $12.37 zone. Traders remain optimistic as the adoption of DeFi continues to grow.