Chainlink has begun to draw the attention of both institutional and retail investors after breaking out of a falling channel and passing key exponential moving averages. This technical breakout could pave the way for even larger gains.<\/p>\n
Whale Activity Increases Confidence<\/strong><\/h2>\nActivity from whales has been one of the prime movers for the upward momentum currently being seen in LINK. As IntoTheBlock<\/a> would have it, large LINK transactions have jumped 8.56% in the last 24 hours. The spike suggests that large players are very bullish, and it is not something that has gone unnoticed.<\/p>\n![\"\"](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/A_ee00e8.png?resize=1024%2C287\")
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Retail interest is also increasing, with a 2.10% increase in new addresses and a 1.09% gain in daily active users. Chainlink is trending on social media, according to Santiment\u2019s research,<\/a> with its sentiment and weight metrics showing a 0.28% jump. Investors are talking, and the chatter is fueling LINK\u2019s upward march.<\/p>\nLINK Price Action<\/strong><\/h2>\nPresently, at a price of $16.94, Chainlink is up by 11% in the last 24 hours, getting ready to take the next leap and break above the $17.12 resistance barrier. Analysts believe that if this surpasses the specified barrier, the path to $30 will become more likely. Some predict that continued momentum may facilitate a retest of LINK\u2019s all-time high of $52.88, achieved in May 2021.<\/p>\n
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The cryptocurrency market as a whole is experiencing a bullish November, with Bitcoin remaining above $98,000. This broader confidence is boosting Chainlink\u2019s potential, but it still needs to catch up to prior highs.<\/p>\n
\n#Chainlink<\/a>![\"\ud83d\udd17\"](\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f517.png\")
is attempting to break the multi-year resistance. Potentially entering a bullish expansion phase. + Weekly RSI breakout confirmed. $LINK<\/a>#Crypto<\/a> $Alts<\/a> https:\/\/t.co\/2bZ8zNcP61<\/a> pic.twitter.com\/Efm0dE9KfZ<\/a><\/p>\n
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Retail interest is also increasing, with a 2.10% increase in new addresses and a 1.09% gain in daily active users. Chainlink is trending on social media, according to Santiment\u2019s research,<\/a> with its sentiment and weight metrics showing a 0.28% jump. Investors are talking, and the chatter is fueling LINK\u2019s upward march.<\/p>\n Presently, at a price of $16.94, Chainlink is up by 11% in the last 24 hours, getting ready to take the next leap and break above the $17.12 resistance barrier. Analysts believe that if this surpasses the specified barrier, the path to $30 will become more likely. Some predict that continued momentum may facilitate a retest of LINK\u2019s all-time high of $52.88, achieved in May 2021.<\/p>\n The cryptocurrency market as a whole is experiencing a bullish November, with Bitcoin remaining above $98,000. This broader confidence is boosting Chainlink\u2019s potential, but it still needs to catch up to prior highs.<\/p>\n #Chainlink<\/a>LINK Price Action<\/strong><\/h2>\n
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is attempting to break the multi-year resistance. Potentially entering a bullish expansion phase. + Weekly RSI breakout confirmed. $LINK<\/a>#Crypto<\/a> $Alts<\/a> https:\/\/t.co\/2bZ8zNcP61<\/a> pic.twitter.com\/Efm0dE9KfZ<\/a><\/p>\n
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