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<p>Chainlink ($LINK) has jumped over 15% in the last 24 hours to reach $17 for the first time since April 2022. <a href="https://twitter.com/santimentfeed/status/1753130074596085929" target="_blank" rel="nofollow">Santiment reported</a> that some previously dormant Chainlink wallets recently saw a massive spike in age consumed activity, signaling renewed interest. They note that this influx of LINK back into circulation likely contributed to the price jump.</p> 
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<p><em>Source: <strong><a class="thirstylink" rel="nofollow" target="_blank" title="Santiment" href="https://captainaltcoin.com/go/santiment/" data-shortcode="true">Santiment – Start using it today</a></strong></em></p> 
<p>Santiment also highlighted recent minor LINK wallet liquidations, often a sign of fear that can further fuel price rises when assets change hands. Given these on-chain trends evidencing growing network usage and token circulation, Santiment suggests $LINK could rebound to $20 and higher.</p>  
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<p><strong>What To Watch For Next</strong></p> 
<p>From a technical analysis perspective, the price recently broke out above the high end of a multi-month range trade between $12.9 and $16.9. After an 11% spike yesterday to close at $17 conclusively, the first test will be if $LINK can stay above this psychologically important level not reached since its 2022 high.</p> 
<p>The next major upside resistance sits around $18 where the price is facing some rejection currently. Breaking through $18 could open the door to $18.8 and then $20 as the next test.</p> 
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<p>Bulls will also anticipate a potential retest of the initially broken resistance now turned support around $16.9 where the initial breakout occurred. This would offer a springboard for the next leg higher.</p> 
<p>With fundamentals and technicals aligning positively, analysts remain firmly bullish on further upside for Chainlink following its sustained breakout. Santiment suggests that if current positive network and circulation trends continue, $LINK could rebound to $20 and potentially well beyond.</p> 
<p>The technical picture also supports the price crossing $20 if it can break through the next resistance level around $18. The bullish breakout appears to just be starting its run as LINK reaches levels not seen since the 2022 top.</p> 
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<p>The post <a href="https://captainaltcoin.com/chainlinks-link-spikes-to-22-month-high-but-bulls-are-not-ready-to-stop-as-they-target-this-price/">Chainlink’s LINK Spikes to 22-Month High but Bulls Are Not Ready to Stop as They Target This Price</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Chainlink’s LINK Spikes to 22-Month High but Bulls Are Not Ready to Stop as They Target This Price

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