Chainlink's price analysis indicates a distinctive ascending triangle pattern on technical charts, which suggests a likely bullish momentum. This pattern typically indicates a potential upside breakout.
The identified price resistance level stands at $27. If Chainlink's price breaks through this resistance, a 30% surge could occur, propelling the price up to $33.
There has been a notable increase in Open Interest in LINK derivatives. This growth signifies enhanced participation from traders, emphasizing their keen interest in Chainlink.
Moreover, a recent analysis of the bid-ask delta reflects an uptick in sell orders. This trend could influence Chainlink's price movements in the upcoming sessions.
