The cryptocurrency market is stabilizing after a period of volatility following Donald Trump's inauguration. Bitcoin has surged 4% today, leading to a recovery in other major altcoins like Chainlink (LINK). Chainlink's price is forming a bullish flag pattern, indicating a potential breakout as the supply of LINK on exchanges decreases. On-chain data shows a significant withdrawal of LINK tokens from exchanges, signaling a shift in market sentiment. The reduced supply on exchanges historically coincides with price recovery. The Chainlink price has seen a significant recovery from $17.8 to $26.9, forming a bullish continuation pattern called a flag. With a bullish crossover state between daily EMAs, a successful breakout could drive the LINK price to $40.



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