According to data from CoinMarketCap, the trading prices and volume of Chainlink have reflected a massive increase in the past 24 hours, when writing it was trading at $24.88. 

The current bullishness in the trading prices of Chainlink has been mirrored after a long time, and the mark of $26.50 became its 52-week high registered the previous day.

As of publishing, the trading volume of Chainlink was $9.37 billion with an intraday surge of 757 percent. Not only prices and volume but also the market capitalization has shown major uptrends reaching $15.72 billion, with a growth of 26.38 percent in the past 24 hours.

Source: CoinMarketCap

The highest recorded trading price of Chainlink registered to date was $52.88 on May 10, 2021 on the other hand its lowest traded price was $0.1263.

It is worth noting that, Chainlink has outperformed leading crypto after adding 128.30 percent in the past 30 days. The total supply of Chainlink is 1B LINK and as of drafting its supply in circulation was 626.85 M LINK. 

As per the data from different whale trackers and on-chain analysis firms, whale holders have reportedly had Chainlink tokens worth millions of dollars in the past 24 hours, the roughly equivalent of 269,861 Chainlink tokens.

Chainlink token eyeing a resistance above $35!

The continuous growth in prices, volume, and market capitalization of Chainlink has raised speculations that the pace might set a fresh resistance above the mark of $35. 

Source: TradingView 

Chainlink’s price has reached the 50% Fibonacci retracement level at $26.56. Notably, it has surged past the 20, 50, 100, and 200-day Exponential Moving Averages (EMA), signaling strong bullish momentum.  

The bullish outlook for Chainlink is likely to persist unless the price falls below the critical support level of $17, which marks the lower boundary of the pennant pattern. A breakdown below this level could trigger a retracement toward the 200-day EMA at $13.29.  

On December 2, Chainlink hit a high of $26.50, its strongest level since January 2022. If the upward trend continues, the next significant resistance lies at $33.72, influenced by the 0.618 Fibonacci retracement level and a horizontal resistance zone.

Source: TradingView 

Chainlink’s upcoming participation in Abu Dhabi Finance Week highlights its strategic advancements and potential for forming high-profile partnerships, underscoring its continued leadership in the sector.  

The overall sentiment surrounding Chainlink remains optimistic, reflecting strong confidence in the platform’s technological capabilities and future prospects.

The price of LINK rose significantly from its initial ICO price of $0.11 to reach an all-time high of $54.40. However, like most cryptocurrencies, it also underwent periods of price fluctuations and corrections.

It is important to be mindful of the risks and challenges Chainlink might encounter. Elements such as regulatory changes, competition from other projects, and ongoing technological innovations could influence the future growth of Chainlink.

When writing the cryptocurrency market capitalization was $3.42 trillion with an intraday growth of 2.39 percent while Bitcoin was trading at $95,373 with a decline of .20 percent. 

The 24-hour gainers list has been ruled by Ondo trading at $1.77 with an addition of 54 percent followed by IOTA, Hedera, Vechain, and Jasmycoin.