Chainlink (LINK), the oracle network powering decentralized applications (dApps), has been making waves in the crypto market. After a successful surge, the digital asset is now setting its sights on even higher ground, with analysts predicting a bullish run and price targets as high as $33.
At the time of writing, LINK was trading at $16.27, down 6.4% and 11.0% in the daily and weekly timeframes, data from Coingecko shows.
Support Levels And Re-accumulation Signal Bullish Trend
LINK’s recent price action has analysts excited. The token decisively broke through a key resistance level on the daily timeframe, a bullish indicator suggesting buyers are in control. Even more promising, the price then revisited this level, not as resistance, but as a new support zone. This “flip” from resistance to support strengthens the uptrend’s validity.
Adding fuel to the fire, LINK’s price has grown a healthy 25% in the last month. This significant gain reflects growing investor c
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