The price of Chainlink (LINK) has experienced a significant surge, increasing by 33% overnight. This rise has pushed Chainlink's market cap to over $15 billion and its price to $24.81. The positive alignment of EMA lines and the MACD indicator on the weekly chart suggests a bullish long-term trend. The rally has also surpassed the 61.80% Fibonacci level and is now challenging the immediate resistance at the 78.60% Fibonacci level of $31.96. On the daily chart, a new 52-week high has been formed, and a pullback signals minor bullish exhaustion. The surge in buying pressure has triggered a buy signal from technical indicators and suggests a price target at the 1.618 Fibonacci level of $29.21. However, if the broader market loses momentum, a potential retest of the $21.71 breakout level could occur.



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