Chainlink (LINK) is poised to test the $14.63 resistance level after weeks of trading within a defined range. The cryptocurrency has been fluctuating between $11.72 support and $14.63 resistance, with recent price action suggesting a potential breakout. Technical indicators show sustained higher lows, indicating growing buyer momentum.
On-chain metrics reveal that supply-in-loss data is stabilizing, suggesting reduced selling pressure. This aligns with historical patterns where such conditions precede market consolidation phases. As LINK approaches the upper boundary of its trading range, traders are closely monitoring for a breakout, with recent bullish candles indicating increased momentum towards the $14.63 resistance.
