Following a slow price action for months, the Chainlink (LINK) price is again among top crypto gainers. LINK is now trading above $25 after pumping 30% today.
Chainlink (LINK) price is up today after a new partnership was announced. The partnership will see Chainlink and 21X launch the first EU-regulated financial market infrastructure. This partnership is a major step forward for Chainlink and could open up new opportunities in the European financial market.
Technical analysis shows that LINK price broke out of a descending wedge or triangle pattern, which is a bullish trend reversal. The price has already rallied significantly, rising to $25.80, which is much higher than the initial $14–$15 breakout zone. The bullish momentum is strong and could lead to further price appreciation.
A recent analysis by World of Charts provides insights into the Chainlink price movement.
The cryptocurrency is now approaching a psychological resistance level around $30, which could trigger some profit-taking by traders. Beyond this point, the chart projects a potential target of $43.47, which would mark a substantial 232.9% gain from the initial breakout level. However, traders should be aware that such significant moves often come with periods of consolidation or minor pullbacks.
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