• LINK found important support at - LINK found important support at $22.54. 2,54. Historically, a rise in open interest during consolidation phases, as seen on the LINK chart, often precedes major price moves.

Chain #Link [LINK] is a smart contract with real data. It is well known for its key role in connecting #smart contracts with real data.

The chart recently showed promising price action. This resilience at new support levels suggests the possibility of an upside breakout leading to new all-time highs. However, historical trends and external indicators show mixed signals, On the 12-hour chart, LINK found significant support at USD 22.54.

The key technical indicator, the Relative Strength Index (RSI), was around 50 at the time of publication, which reflects the neutral market sentiment. The current price consolidation indicates market indecision, and traders should remain vigilant. The indecision corresponds to the LINK's attempt to rise above USD 22.58. This pattern is often preceded by breakouts and breakdowns.

If LINK breaks above the next resistance level at USD 24.52, the target could be USD 26.90 or higher. However, failure to hold the $22.54 support level could lead to a retest near $19.16. With

#Chain Link's software and services revenues set to double between 2022 and 2023, institutional investor interest in the bullish trend could provide a boost. However, historical price patterns suggest that LINK may continue to remain in this range, especially given the volatility in the lower timeframes. Traders should keep a close eye on RSI and price action for clearer signals.

LINK's Open Interest (OI) has been steadily rising over the past few days, indicating increased trader activity and market interest. Currently, LINK's OI is up about 8%, indicating that both bullish and bearish traders are becoming active again.

Historically, significant price moves often precede OI gains during consolidation phases like the one seen in the LINK chart. If prices break above the $BTC

However, traders should remain cautious.

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