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<p>In a post on <a href="https://twitter.com/spotonchain/status/1753564069469249635?t=54cOp3nJU9nemVdAwFEMAw&amp;s=19" target="_blank" rel="nofollow">X, @spotonchain</a> provided details of a recent sizable Chainlink unlocking event totaling $341 million worth of tokens. Specifically, they noted:</p> 
<p>“19M $LINK ($341M) was unlocked from 3 Chainlink Noncirculating supply contracts ~2hrs ago, of which:</p> 
<ul> 
 <li>15.95M $LINK ($287M) deposited to #Binance</li> 
 <li>3.05M $LINK ($54.3M) moved to Multisig 0xD50f”</li> 
</ul> 
<p>The post added historical context around previous Chainlink unlocks in 2022, stating:</p> 
<p>“Since Aug 2022, #Chainlink has unlocked 106M $LINK, and then moved 88.95M $LINK to Binance at $9.06 on avg ($805M). Currently, there are still 412.5M $LINK ($7.35B) left across these 24 contracts.”</p>  
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<p><strong>Bulls Take Charge As Price Surges 25% </strong><br>After the sizable unlocking event, Chainlink’s price surged by around 25% over the past 7 days. As the post noted:</p> 
<p>“$LINK surged ~25% (7D). The price appears to slightly dip in the most recent 2 unlocks, despite previously being well-maintained.”</p> 
<p><strong>Technical Analysis Shows Continued Momentum</strong><br>With the 25% price surge, Chainlink’s price managed to close above a key consolidation level at $16.9, where it had been stuck since November, clearing the way for further momentum. The close above $17.8 signals a bullish breakout.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="465" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-1024x465.png" alt="" class="wp-image-431631" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-1024x465.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-767x348.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-1536x697.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-2048x929.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-331x150.png 331w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-772x350.png 772w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82-788x357.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-82.png 1823w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>From an RSI perspective, the reading of 65 shows bulls still have room to push the price higher before overbought levels are reached. This lines up with the breakout momentum.</p> 
<p>You may also be interested in:</p> 
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 <li><a href="https://captainaltcoin.com/crypto-expert-forecasts-price-decline-for-cardanos-ada-if-this-key-resistance-continues-to-hold/" target="_blank">Crypto Expert Forecasts Price Decline for Cardano’s ADA if This Key Resistance Continues to Hold</a></li> 
 <li><a href="https://captainaltcoin.com/amid-chainlinks-market-turbulence-nuggetrush-emerges-as-a-preferred-safe-haven-for-investors/" target="_blank">Amid Chainlink’s Market Turbulence, NuggetRush Emerges as a Preferred Safe Haven for Investors</a></li> 
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<p>The post <a href="https://captainaltcoin.com/341m-chainlink-unlock-sparks-25-surge-link-poised-for-further-upside-as-3-month-price-consolidation-breaks/">$341M Chainlink Unlock Sparks 25% Surge; LINK Poised for Further Upside as 3-Month Price Consolidation Breaks</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

$341M Chainlink Unlock Sparks 25% Surge; LINK Poised for Further Upside as 3-Month Price Consolidation Breaks

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