Chainlink’s LINK Surges 12% to $27.8 Following Federal Reserve Remarks
Chainlink's (LINK) token surged 12% to $27.8, its highest since December, driven by favorable comments from Federal Reserve Chair Jerome Powell. In comparison, Bitcoin (BTC) rose 3.5%, and the CoinDesk 20 index gained 6.5%.
Key developments include:
- Chainlink received ISO 27001 and SOC 2 Type 1 security certifications, the first for a blockchain oracle platform, enhancing trust in its data services.
- The Chainlink Reserve acquired 41,000 LINK tokens worth approximately $1 million, increasing total holdings to 150,778 tokens valued at around $4.1 million.
Technical Analysis
- Support established at $24.15 with high-volume confirmation.
- Resistance levels broken at $25.00, $25.50, and $26.00 with institutional volume validation.
- Trading volume surged to 12.84 million during the breakout, five times the 24-hour average.
- Tight range consolidation observed around $24.70-$25.10 before the breakout.
- Upward momentum sustained with signs of institutional accumulation.
