Can LINK hit $15 after $12 resistance?

Chainlink (LINK) is making headlines as its price sees a 6.39% surge in the past 24 hours, now trading at $11.34. But what’s behind this upward movement, and where could it lead? Let’s break it down.

Price Movement and Support Levels



  • Downward Trend Since June: Since June, Chainlink has been stuck in a descending trend channel, with prices heading south.

  • Support Found at $9.42: Recently, LINK took a dip below $13, finding solid support at $9.42. This level is key because it indicates a potential double bottom pattern, often a sign of a trend reversal.

  • Short-Term High to Watch: If LINK breaks through its short-term high of $13, it could confirm a bullish breakout, leading to further gains.

Growing Social Dominance



  • LINK’s Social Activity is Booming: Chainlink’s social engagement is on the rise. Among the top 10 crypto projects, LINK holds a social dominance rate of 1.65%. This measures how often Chainlink is discussed on social media platforms.

  • Why Social Dominance Matters: Increased social visibility usually means higher interest, which can often translate into price movement. As more people talk about LINK, the market tends to pay more attention, boosting momentum.

Price Resistance and Forecast

  • Resistance at $12: LINK is currently facing strong resistance at the $12 level. But if the bulls maintain their push, there’s potential for the price to surge further.

  • Potential Targets: If bullish pressure builds, we could see LINK testing the $15 mark. In an even more optimistic scenario, a break past that resistance might lead LINK toward $20.

Chainlink’s Role in Tokenized Real-World Assets (RWA)

  • Leading the RWA Space: Chainlink is positioning itself as a major player in the tokenized Real-World Assets (RWA) market. Analysts predict that it could even surpass crypto’s total value within the next 1-3 years.

  • Opportunities and Risks: While the future looks bright for Chainlink, investors should remain aware of potential risks. These include decreased user engagement, market volatility, and competition from other projects like Pyth, Avalanche, and Near Protocol.

Final Thoughts: A Bullish Path Ahead?

Chainlink has a lot of momentum building behind it. From solid support levels to growing social dominance and its role in the RWA space, the project seems poised for a bullish breakout. However, investors should remain cautious, especially with resistance at $12 and the presence of competing projects.

Keep an eye on the $13 level—if LINK breaks above it, we could be in for a substantial price surge. For now, the signs point to potential gains, but always be mindful of the broader crypto market and its unpredictable nature.

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