LINK price is up 5% in 24 hours, now at $29.38
LINK is up 5% in the last 24 hours
Chainlink (LINK) has broken above the ceiling of its medium to long-term falling trend, signaling a potential shift in market sentiment toward a bullish outlook.
The current price of LINK stands at $29.35, reflecting a daily surge of over 5%, which has drawn increased attention from investors. This move highlights growing market confidence in the asset, supported by a series of positive market trends.
The technical setup is promising, as there are no visible resistance levels on the price chart. This absence of resistance suggests a clear path for further price appreciation. If the upward momentum continues, LINK could see sustained gains as bullish sentiment strengthens.
LINK price dynamics (December 2023-December 2024). Source: TradingView.
On the downside, key support has been established at $18.70. This support level could act as a safety net in the event of a market correction, providing a potential entry point for buyers seeking to capitalize on dips.
The technical indicators point to a bullish scenario for LINK, driven by the breakout of the falling trend channel and the absence of resistance. However, traders should monitor the $18.70 support level, as a break below this point could signal a shift in sentiment. For now, LINK remains poised for further upside, with strong technical and market momentum backing its rise.
On the last December 3, Chainlink's (LINK) token surged to $26.90, marking a 45% increase from a low of $18.58 and reaching its highest price since January 2022. This recent significant rise in LINK reflects growing optimism among market participants about the asset's future.
