coindesk.com
Chainlink’s LINK token surged 4.17% on Tuesday, climbing to just shy of $14 and breaking through multiple resistance levels as institutional demand for oracle infrastructure assets picked up.
The move marked a rare show of strength after recent headwinds, with LINK outperforming the advances of bitcoin BTC$93.644,85 and broader market benchmark CoinDesk 5 Index.
Trading volumes spiked sharply during the breakout above $13.58 resistance level, jumping 95% above the daily average, CoinDesk Research's technical analysis tool noted. 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 clean step-ladder structure, signaling strong technical momentum, CoinDesk Research's tool noted. If LINK can break through the $14.00 psychological barrier, the next upside targets around $14.25-$14.50 if 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: Breakout confirmed with 95% spike in volume; per-minute activity sustained above 65K
- Chart Patterns: Ascending structure with step-ladder breakout from $13.11 base
- Targets & Risk/Reward: Upside targets at $14.25–$14.50; downside risk protected by $13.70 support
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.