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Chainlink ($LINK), the decentralized oracle platform, is showing the potential to post a major comeback in price. In its ongoing rebound move, $LINK has grown by over 8% in the last 24 hours, and the coin looks set to ride the support of investors.
Chainlink price rebounds from short sell-off
Per CoinMarketCap data, investors’ interest has rekindled, pushing trading volume up by a significant 28.54% to $348.86 million.
This renewed interest from $LINK holders indicates that $LINK could witness a crypto market breakout. Before this development, the asset had slipped to $13.30, with many worried that the $13 support level may not hold.
However, some analysts believe $LINK was consolidating during this period and building momentum. In the last 24 hours, the coin has shown potential to climb to the $20 zone if it sustains the current trajectory.
$LINK must overcome critical resistance levels to hit its target. Notably, $LINK has previously faced rejection at the $15 resistance level, which remains a major hurdle for the asset.
Its ability to rise above this level and sustain the bullish momentum, backed by rising trading volume, could support its journey to $20.
Potential top 10 breakthrough if $LINK hits $24
As of press time, the $LINK price was changing hands at $14.89. In earlier trading, the coin reached a high of $14.94, only to face rejection as it aimed to flip the resistance.
If $LINK succeeds in surging from the current level to $20 and climbs to the $24 range, it could join the list of the top 10 crypto assets by market capitalization. Currently, its market cap stands at $9.78 billion, but such growth will nudge it to $24 billion.
That will push it past Sui and Tron, whose current market caps are $12.88 billion and $23.78 billion, respectively.
$LINK whales and other investors must join the trend with active trading and accumulation to achieve this.