Chainlink Maintains Price Above $24 with Surge in Transaction Volumes
Bitcoin stabilizes above $102,000, reclaiming a $2 trillion valuation, while the DeFi segment shows recovery. Chainlink is identified as a top DeFi token with significant upside potential.
- Chainlink price increased by 1.49%, maintaining above $24.
- Market cap stands at $15.55 billion, ranking 11th among cryptocurrencies.
- Resistance level at $26.62 remains unbroken; price pulls back to $23.90.
- Low price rejection noted at $22.18, with current price above 20-day EMA support.
Price Analysis and Targets
- Current pullback tests the 23.60% Fibonacci level at $23.84.
- A close below this level may retest the $20 mark.
- Bullish breakout targets $31.13 at the 67.80% Fibonacci level.
On-Chain Activity
- Transaction volumes surged nearly 3x, from $84.44 million to $222.9 million.
- Growth indicates possible return of large investors (whales).
- Active addresses rose significantly from a low of 3.91K to 5.31K on January 27.
Chainlink shows bullish potential with rising transaction volumes and active addresses. Breaking the $26.62 resistance is crucial for targeting $31.13, especially if broader market conditions improve.