Chainlink’s LINK token jumped 4.17% on Tuesday, approaching the $14 mark after breaking through several resistance levels, as institutional interest in oracle-focused crypto assets strengthened. CoinDesk Research’s analysis tool indicates that, if the current momentum persists, LINK could be on track to test the $14.50 area next.
The token’s rally outpaced the gains seen in bitcoin (BTC$84,842.08) and the broader CoinDesk 5 Index, marking an unusual show of relative strength following weeks of sluggish performance. The breakout above the $13.58 resistance zone was accompanied by a sharp rise in trading activity, with volumes soaring 95% above the daily average—a sign of steady accumulation rather than short-term trading noise, according to CoinDesk Research.
Price action formed a clear staircase-like progression, characterized by higher lows and controlled breakouts, reflecting improving technical structure. A convincing move above the psychological $14 threshold would likely set up the next upside band near $14.25–$14.50, assuming buying pressure remains intact.
Key Technical Levels
- Support/Resistance: Immediate support lies at $13.30–$13.40; major resistance sits at $14.00 and $14.25.
- Volume Dynamics: Tuesday’s breakout was confirmed by a 95% jump in trading volume, with per-minute activity holding above 65K.
- Chart Structure: LINK continues to trade within an ascending pattern, climbing from a $13.11 base.
- Targets & Risk/Reward: Upside targets fall between $14.25 and $14.50, while downside protection builds around the $13.70 support zone.
Share this content:
