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Chainlink (LINK) Eyes $20 as Open Interest and Derivatives Volume Soar
Chainlink (LINK) Eyes $20 as Open Interest and Derivatives Volume Soar
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Chainlink LINK News -
Chainlink (LINK) is gearing up for a bullish breakout, currently trading above the key Fibonacci retracement level of $18.93 with targets set at $22.30 and $26.50. The token has surged 7% in the last 24 hours, driven by a 13% increase in open interest and a 46.59% jump in derivatives volume.
Technical indicators support the upward trend. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) show no bearish divergence, while the Volume-Weighted Average Price (VWAP) indicates strong buying pressure at $19.326. LINK's reclaim of the 0.618 Fib level signals bullish control, with the next resistance at the 0.786 retracement point of $22.30—a level last tested in March 2025.
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