Chainlink Consolidates Near $16, Eyeing Breakout Amid Investor Accumulation
- Chainlink surged 22% since April, testing key resistance near $17 for a breakout.
- Over $66M LINK tokens moved off exchanges, signaling substantial investor accumulation.
- LINK holds $12.5 support as growing DeFi integrations boost its growth outlook.
Chainlink (LINK) is experiencing consolidation at $16 after rising over 22% since late April 2025. Recent technical indicators suggest that the token could trend higher as investors become more active and the use of DeFi expands.
Technical Analysis Highlights Potential Breakout
The price of Chainlink has climbed from about $12 in April to roughly $15-$17.5 in May, where attempts to rise further have stalled. LINK has created a series of higher lows while being contained within a rising channel. Trading activity remains consistent, although sharp price increases indicate strong buyer interest.
If analysts observe LINK moving above $17.5 with high trading volume, the next resistance will likely be between $19 and $21. Failure to hold this level may result in Chainlink consolidating sideways or returning to support at $12.5, a level that has been solid recently.
The post Chainlink Consolidates Near $16, Eyeing Breakout Amid Investor Accumulation appeared first on Coin Edition.
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Chainlink Consolidates Near $16, Eyeing Breakout Amid Investor Accumulation
- Chainlink surged 22% since April, testing key resistance near $17 for a breakout.
- Over $66M LINK tokens moved off exchanges, signaling substantial investor accumulation.
- LINK holds $12.5 support as growing DeFi integrations boost its growth outlook.
Chainlink (LINK) is experiencing consolidation at $16 after rising over 22% since late April 2025. Recent technical indicators suggest that the token could trend higher as investors become more active and the use of DeFi expands.
Technical Analysis Highlights Potential Breakout
The price of Chainlink has climbed from about $12 in April to roughly $15-$17.5 in May, where attempts to rise further have stalled. LINK has created a series of higher lows while being contained within a rising channel. Trading activity remains consistent, although sharp price increases indicate strong buyer interest.
If analysts observe LINK moving above $17.5 with high trading volume, the next resistance will likely be between $19 and $21. Failure to hold this level may result in Chainlink consolidating sideways or returning to support at $12.5, a level that has been solid recently.
The post Chainlink Consolidates Near $16, Eyeing Breakout Amid Investor Accumulation appeared first on Coin Edition.
Read More
Crypto Trader Loses $28 Million HYPE Token Profit in 4 Days, Lookonchain Reports