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The Chainlink price plunged 6% in the last 24 hours to trade at $23.80 as of 11:17 p.m. EST on trading volume that skyrocketed 62% to $912 million.
Chainlink Price Poised For A Breakout
The LINK price has been experiencing significant price fluctuations, reflecting an interplay of bullish and bearish sentiments.
On the daily chart, LINK has shown resilience, rallying from its lows near $11.50 to recent highs above $27.50. This movement marks a clear bullish trend in the medium term.
However, after touching resistance near $27.50, the Chainlink price has pulled back to its current level of $23.80, and trading within the sideways pattern, according to GeckoTerminal data.
Despite the pullback, the price of Chainlink is still well above both the 50-day and 200-day Simple Moving Averages (SMAs), which suggests bullish momentum.
The Relative Strength Index (RSI) is at 51.06, placing it in the neutral zone. This indicates that neither buyers nor sellers currently dominate the market, leaving room for further price consolidation or trend continuation depending on momentum shifts.
Meanwhile, the Moving Average Convergence Divergence (MACD) shows signs of bullish sentiment for the price of LINK, as the blue MACD line crosses below the orange signal line.
LINK At A Critical Juncture
The LINK price is at a critical juncture, consolidating within the $19.75 and 27.22 defined range.
If the price of Chainlink holds above the 50-day SMA ($23.58) and the $20-$22 support zone, a retest of the $27.22 resistance is likely. Breaking this level could open the door for a move toward $30 or higher in the medium term.
A breakdown below $23.58 or sustained selling pressure at the $27.50 resistance could lead to a retest of the $20-$22 demand zone. A breach of this zone may result in a deeper correction toward the 200-day SMA at $15.50.
In the meantime, investors are flocking to the presale for Best Wallet (BEST), which according to ClayBro, a popular YouTuber with over 135K subscribers, is one of the best wallets of 2025.
Best Crypto Wallet Presale Closing On The $8.5 Million Mark
Managing crypto assets can be challenging for most people – especially for beginners. Best Wallet wants to change that. The project is solving a common pain point – having to juggle multiple apps and platforms just to manage your crypto.
Most wallets usually focus only on storage or trading, but Best Wallet brings everything together in one place. It supports over 60 blockchains and offers access to more than 200 decentralized exchanges.
The Fastest Growing Wallet in Crypto!
In a crowded market, Best Wallet delivers the tools you need to gain an edge. 🚀
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— Best Wallet (@BestWalletHQ) December 30, 2024
Some of its standout features include non-custodial control, which means you keep complete control of your crypto assets, and zero KYC requirements for instant access.
However, what sets it apart from similar applications is its “upcoming tokens” feature, which gives BEST holders early access to promising presale projects.
The project’s success in identifying promising cryptos is clear. It has already flagged Pepe Unchained (PEPU) and Catslap (SLAP), meme coins that delivered 500% and 3,000% gains, respectively, for early investors.
What’s more, investors can also stake BEST tokens for a huge 212% annual return.
Currently, BEST tokens are priced at $0.02375. Those interested in joining investors who have pumped more than $8.3 million into the project should buy before a price hike in 14 hours.
Buy and stake BEST here for a competitive 212% APY.
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Best Wallet - Manage Your Crypto
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