Chainlink (LINK) price has witnessed a surge climbing over 10% in the last 24 hours after establishing support at the intra-low of $27.81. The cryptocurrency is trading near $29.98, with analysts suggesting a potential rally toward $50 in the coming weeks.
This trend follows a breakout from a long-term downtrend that spanned multiple years, supported by strong buying momentum and technical patterns. Subsequently, during the rally, LINK’s market capitalization jumped by over 9% surpassing the $18.7B market cap despite a dip in the 24 hour trading volume by 32%.
Chainlink Price Breaks Out of a Multi-Year Downtrend
Chainlink price current rally can be attributed to its recent breakout from a prolonged downtrend. The cryptocurrency experienced a notable shift in Q4 2024 after consolidating within a falling wedge pattern. Amid this recovery, Donald Trump’s World Liberty Finance has bought LINK tokens worth over $2.3m due to the Blackrock partnership speculation as we earlier reported.
A
We współpracy z: https://coingape.com/why-chainlink-price-jumps-10-will-link-hit-50/
