• Chainlink ($LINK) is testing the critical resistance level of $16.60, with analysts eyeing a second daily close for confirmation of a breakout.
• A confirmed breakout could push $LINK toward the next target at $19.25, a key zone of price interest based on previous market activity.
• Traders remain cautiously optimistic, watching for sustained momentum as resistance zones often trigger pullbacks or consolidations.

The upswing movement of Chainlink ($LINK) token has touched the crucial resistance level of $16.60. As such, market participants are paying attention to its next move since the daily close above to this critical level may lead to the further continuation towards higher preço objectives. The token associated with these contracts is back in the center of new technical drivers in the crypto market.

Breaking $16.60: A Key Milestone Next Target: $19.25

In the last of the daily sessions, $LINK price closed just at the 16.60 resistance level, which has always been a critical point that has limited $LINK in its upward movement. Today, the token is less beaten up and appears to be testing this crucial resistance level with market analysts focusing on the possibility of back to back daily closes above this level. Any such development would support the view that upward momentum remains firmly in place and open further extension to the upside.

In case $LINK remains above $16.60, the next target will be set at $19.25 among analysts. This level correlates to a prior zone of much action in price and is the most reasonable tertiary target for prices, if the trends continue incessantly. The expected increase to $19.25 is due to increasing optimism on the part of $LINK’s managers in sustaining the recent price increase.

Broader Market Context  and Caution Amid Optimism

It coins the movement during the time when the market of cryptocurrencies increases after weeks of fluctuation. One potential reason for this recent spike in bullish activity for $LINK is the ramping up of demand for decentralized applications and oracles – integral components of many blockchains.

More so, the future seems bright for $LINK particularly given that the current levels are definite resistance zones therefore barring some threat of a pullback or consolidation. They should however wait for the breakout to consolidate and hold above the breakout level to confirm breakout.

The post What’s Next for Chainlink? $19.25 on the Table if $16.60 Breaks appeared first on Crypto News Land.

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