Recently, there's an interesting development — Nasdaq partnered with CME Group to launch a new cryptocurrency index that bundled together Chainlink, Bitcoin, and Ethereum. This is actually a form of recognition for the Chainlink ecosystem.
However, looking at price performance, LINK is currently hovering at the critical support level of $13. On-chain data has revealed some signals — trading volume has risen 5% recently, indicating that market participants are adjusting positions, which typically signals that new moves may be coming.
From a technical perspective, if LINK can hold its ground at $13, the possibility of breaking upward is considerable. Particularly, the $1.32 million liquidity cluster around the $15 level is likely to become the next short-term target. In other words, the key is whether the $13 support level can be maintained, and once the rally momentum strengthens, $15 will be within reach.
Recently, there's an interesting development — Nasdaq partnered with CME Group to launch a new cryptocurrency index that bundled together Chainlink, Bitcoin, and Ethereum. This is actually a form of recognition for the Chainlink ecosystem.
However, looking at price performance, LINK is currently hovering at the critical support level of $13. On-chain data has revealed some signals — trading volume has risen 5% recently, indicating that market participants are adjusting positions, which typically signals that new moves may be coming.
From a technical perspective, if LINK can hold its ground at $13, the possibility of breaking upward is considerable. Particularly, the $1.32 million liquidity cluster around the $15 level is likely to become the next short-term target. In other words, the key is whether the $13 support level can be maintained, and once the rally momentum strengthens, $15 will be within reach.