CandleFocus

Chainlink nears make or break price amid strong ecosystem growth

Author: Content Editor
Chainlink (LINK) has experienced a strong comeback, reaching its highest point in over four weeks and rising by over 53% from its lowest level this year. The cryptocurrency's ecosystem and use cases continue to grow, and it maintains the largest market share in the oracle industry. The rally coincides with a resurgence of the DeFi industry and the integration of Chainlink into various platforms. Demand for Chainlink's coin and futures has increased, and there has been a downtrend in coin balances held on exchanges. However, there are some potential risks, such as future token unlocks that could lead to dilution for existing investors. On the daily chart, Chainlink has rebounded and shows positive momentum, with potential upside if it rises above key resistance levels.

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