Chainlink LINK Posts Best Quarterly Performance Since 2021 as Technical Breakout Nears

Chainlink's LINK token surged 82.5% in Q3 2024, marking its strongest quarterly performance since early 2021. The oracle network's native asset now approaches a critical technical resistance at $25.30, with analysts suggesting a monthly close above this level could trigger confirmation of a long-term bullish pattern.

Market observers highlight dwindling exchange reserves—now at their lowest since 2022—as a key factor reducing sell-side pressure. The tokenization of real-world assets (RWA) narrative continues to fuel institutional interest, with price targets ranging from $47 to $125 should the breakout materialize.

Technical charts show LINK emerging from a multi-year accumulation phase, with the current quarter's outperformance positioning it as a standout performer in the crypto market's search for directional leadership.