Chainlink (LINK) Breakout on the Horizon as Market Sentiment Turns Bullish

• Chainlink (LINK) is up 2.34%, trading at $14.03 despite a 67% drop in trading volume
• On-chain statistics show $216M of LINK being sent to Binance, something that has been followed historically with price surges.
• One of the major resistance points is $15, and overcoming it can initiate a massive bullish breakthrough.

Chainlink (LINK) is on the verge of breakout and showing positive signs of upside movements. Over the last 24 hours LINK is slightly up 2.34% and currently trading at $14.03. Despite this positive price surge LINK trading volume is down by 67% with a 24-hour trading volume of $ 695.15M, market cap of $ 8.97B.

Chainlink (LINK) Breakout on the Horizon as Market Sentiment Turns Bullish 5

The overall market is in bullish phase with Bitcoin surge that propelling altcoins to recover and print gains. LINK is benefitting from this bullish wave in the market and poised for huge upside. Analyst are optimistic about LINK future price movements and highlighting possible short term targets for LINK.

LINK’s On-Chain Activity Signals Bullish Prospects

According to on-chain data by Lookonchain, a Chainlink non-circulating supply wallet unlocked and deposited 14.875 million LINK ($216 million in value) into Binance in recent times. Historically, such unlocks have been preceded by huge price surges and statistics have indicated 9 out of 10 unlocks in the past have resulted in LINK rallies in 30 days.

This on-chain activity suggests that despite the drop in trading volume, LINK could be preparing for a major upside move, especially if market conditions remain bullish.

Chainlink Bulls Aiming To Surpass $15

Crypto analysts are closely watching the $15 resistance level, a crucial barrier where 15,500 investors hold over 107 million LINK tokens. According to Ali Martinez, breaking past this resistance could trigger a strong rally, potentially sending LINK to new highs.

If bulls manage to surpass $15 resistance, it could open the doors for a huge climb toward $18 and beyond, positioning LINK at the top in the upcoming altcoin rally.

Chainlink (LINK) Breakout on the Horizon as Market Sentiment Turns Bullish 6

However, with a strong technical setup, bullish on-chain signals, and bullish market conditions, LINK is on the verge of a breakout. Now, LINK hace to push past the $15 resistance level, for significant upside movements.

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