Chainlink LINK Breaks Above $24 as Bullish Momentum Builds

Chainlink's LINK token gained 2.39% to reach $24.38, overcoming recent bearish pressure as technical indicators point to strengthening bullish momentum. This recovery comes despite a 15% monthly decline, even with Chainlink's landmark partnership announcement with the U.S. Department of Commerce.

Neutral RSI readings at 56.86 indicate potential for further upward movement, with traders now targeting the $26 resistance level. The September 5th government collaboration to integrate macroeconomic data on-chain using CCIP technology provides solid fundamental support, though market reaction has remained relatively subdued.

Today's price action signals weakening bearish sentiment as LINK establishes stable support above $23. The ongoing disconnect between institutional adoption and short-term price performance continues to present trading opportunities in the oracle token sector.