BTC

$68117.061

1.05%

ETH

$1977.912

1.59%

XRP

$1.446

2.68%

BNB

$630.185

3.48%

Analysis

LINK Price Surges after Trendline Breakout Targeting a Potential Move to $12

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Key Insights:

  • LINK trades at $8.95 after breakout, approaching the key $12.03 daily resistance level amid rising trading volume.
  • Chainlink reports $39.902B Total Value Secured while Total Value Locked remains zero with $73.45M annualized fees.
  • The token records $635.18M 24-hour trading volume as price forms higher lows near $8 base post decline.
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LINK Price Surges after Trendline Breakout Targeting a Potential Move to $12

Chainlink has shown a price surge after recent trendline activity, with traders watching for a potential move toward $12. The asset is currently trading near $8.95 on Binance, showing a 2.92% increase over the past 24 hours. Analysts note the token has formed a base between $8 and $9 after a long downtrend, which may set up further upward movement.

Trendline and Price Structure Analysis

The Chainlink daily chart shows that the price is below a key resistance level at $12.03. A clean daily close above this level would signal a reclaim of the supply zone. Until that happens, selling pressure may appear as the price approaches $12.

LINK has been stepping down for several months, then stabilized near $8. The price is now moving toward a visible ceiling at $12.03. Traders observe higher lows forming, suggesting a potential test of the resistance area.

image 247
Potential Price Surge | Source: X

If the price fails to break $12.03, the market may return to the $8 base. A break below this floor could put recent lows back into focus. The price structure shows clear steps, and traders may wait for confirmation above $12. The daily trend and candle patterns show stabilization but still reflect seller influence from prior declines.

Network Activity and Value Metrics

Chainlink’s network shows a Total Value Secured (TVS) of $39.902 billion, while Total Value Locked (TVL) remains at zero. Annualized fees total about $73.45 million, signaling active network use. Chainlink functions as infrastructure, supporting other applications rather than holding funds itself.

image 246
Chainlink Network Activity | Source: DeFiLlama

Fees indicate that activity distinction demonstrates the network’s role in providing data and execution services. Investors may consider TVS and fees as indicators of usage rather than funds stored in Chainlink.

The asset’s current trading volume stands at $635.18 million over the past 24 hours. Market observers are closely watching price movement near $12.03 for a possible breakout. Sellers controlled the move during that period, but recent candles show higher lows and steady buying pressure.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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