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Chainlink gains investor confidence amid promising developments and growth. Chainlink (LINK) is drawing increased attention from investors due to recent progress. Analyst Michael van de Poppe describes it as a “blue chip” with significant growth prospects. The token, valued at $24.30 and boasting a $15.5 billion market cap, is predicted to reach $32, $35, or even $50. Speculation about a potential BlackRock partnership has fueled optimism, with CoinGape suggesting it could drive LINK to record highs.
#Chainlink $LINK is breaking out of a bullish flag, targeting $50! pic.twitter.com/ru8CCbJPCG
— Ali (@ali_charts) January 18, 2025
Large investor activity saw a sharp rise, with trading volumes jumping from $35.6 million to $185 million in a single week. Reports from IntoTheBlock highlight growing interest among institutional buyers, boosting the likelihood of price surges. Trading activity for LINK remains robust, with volumes around $1 billion. Additionally, the adoption of Chainlink is being bolstered by the CCIP v1.5 update and collaborations like the one with BTguru, further solidifying its upward trajectory.
Key Chainlink Levels To Watch – January 19
The LINK/USD pair shows a strong rejection from the demand zone around $16.260, indicating a potential upward momentum. The current price hovers above the 9-day SMA, signaling bullish sentiment.
A breakout above $25.960 resistance could confirm a continuation toward $30.950 and beyond. The MACD’s bullish crossover further supports the probability of upward movement.
Chainlink Key Levels
Resistance Levels: $25.970, $30.950, $34.020
Support Levels: $16.260, $12.700, $8.080
LINK Metrics
Total Market Capitalization: $3.61T
Chainlink Market Capitalization: $15.61B
Chainlink Volume: $968.04M
Market Rank: #12
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