Chainlink’s LINK token rose 4.17% on Tuesday, climbing to just $14 and breaking through several resistance levels as institutional demand for oracle infrastructure assets increased.
The move marked a rare show of strength after recent headwinds that saw LINK outpace bitcoin’s progress and broader market benchmark CoinDesk 5 Index.
Trading volume surged during the breakout above the $13.58 resistance level, jumping 95% above the daily average, noted CoinDesk Research’s technical analysis tool. The rally gained steam with consistent buying pushing LINK with sustained volume throughout, suggesting deliberate accumulation rather than speculative hype, the tool suggested.
The pattern of higher lows and orderly breakouts formed a pure ladder structure, signaling strong technical momentum, CoinDesk Research’s tool noted. If LINK can break through the $14.00 psychological barrier, the next upside target is around $14.25-$14.50 if the momentum holds.
Key technical levels to watch
- Support/Resistance: Immediate support at $13.30–$13.40; resistance near $14.00 and $14.25
- Volume analysis: Outbreak confirmed with 95% increase in volume; minute activity held above 65K
- Chart Patterns: Ascending structure with step breakout from $13.11 base
- Objectives and risk/reward: Upside target of $14.25-$14.50; downside risk protected by $13.70 support
Disclaimer: Portions of this article were generated using AI tools and reviewed by our editorial staff to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI policy.
