Chainlink’s LINK token rose 4.17% on Tuesday, rising to just under $14 and breaking multiple resistance levels as institutional demand for oracle infrastructure assets increased.
The move marked a rare show of strength after recent headwinds, with LINK outpacing bitcoin’s advances. and the broader market benchmark CoinDesk 5 index.
Trading volumes increased sharply during the break above the $13.58 resistance level, jumping 95% above the daily average, CoinDesk Research’s technical analysis tool noted. The rally gained strength with steady buying driving 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 clean ladder structure, indicating strong technical momentum, the CoinDesk Research tool noted. If LINK can break the psychological barrier of $14.00, the next bullish target is around $14.25-14.50 if the momentum is maintained.
Key technical levels to consider
- Support/Resistance: Immediate support between $13.30 and $13.40; resistance near $14.00 and $14.25
- Volume analysis: Breakout confirmed with a 95% increase in volume; sustained activity per minute above 65K
- Chart Patterns: Ascending structure with ladder breakout from $13.11 base
- Objectives and risk/reward: Bullish targets between $14.25 and $14.50; downside risk protected by $13.70 support
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
