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Chainlink (LINK) Approaches Key Breakout as Bullish Momentum Builds
Chainlink (LINK) Approaches Key Breakout as Bullish Momentum Builds
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Chainlink LINK News -
Chainlink (LINK) is testing a crucial resistance level at $17.5, with a potential breakout eyeing $22. The cryptocurrency has risen 4% in the past 24 hours and 15% over the week, supported by robust trading volume and positive market sentiment.
On-chain data shows accumulation trends, with the Accumulation/Distribution line hitting 365.71 million. The Aroon indicator's 85.71% Up reading confirms strong upward momentum, while the absence of Aroon Down signals suggests minimal selling pressure.
Analysts point to Chainlink's recent U.S. policy initiative as a driver for increased institutional interest. A confirmed breakout above $17.5 on daily charts could fuel further gains toward the $22 target, according to market watchers.
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