The cryptocurrency market is experiencing a surge, with altcoins making notable strides alongside Bitcoin's record performance. A leading example of this upward trend is Chainlink, showcasing significant growth.
Chainlink's Rise and Investments
Chainlink (LINK) is up by 6% today, contributing to an impressive 115% rally over the last 30 days. This growth is fueled by the recent acquisition of 78,387 LINK tokens by Donald Trump’s World Liberty Financial, worth around $2 million at an average price of $25.51 per token.
Technical Analysis: Chainlink Breakout
Chainlink recently confirmed a breakout from a symmetrical triangle pattern, a classic technical indicator signaling potential further price acceleration. The breakout pushed LINK to a day high of $3.82, surpassing the descending upper resistance trendline at $30.30.
What's Next for Chainlink?
If Chainlink (LINK) sustains its breakout momentum and decisively moves above the $30.96 resistance, the next key target to watch is $35.00. This would represent a significant upside and could lead to even higher price levels in the coming weeks.
Chainlink's recent breakout marks a pivotal moment for the token, supported by technical strength and institutional interest. With the broader cryptocurrency market remaining bullish, LINK appears well-positioned for further gains.
