Chainlink Price Prediction for Today, December 12 – LINK Technical Analysis

Chainlink
(LINK)
is
riding
a
wave
of
bullish
momentum,
as
reports
suggest
that
the
President
of
the
United
States
has
made
an
on-chain
purchase
of
$1
million
worth
of
LINK,
further
boosting
market
sentiment.

LINK
Key
Statistics

• 
  Current
  Price:
  $28.2
• 
  Market
  Cap:
  $17.7
  billion
• 
  Trading
  Volume
  (24h):
  $2.95
  billion
• 
  Circulating
  Supply:
  626.8m
  LINK
• 
  Total
  Supply:
  1
  billion
  LINK
• 
  CoinMarketCap
  Ranking:
  #12

LINK
has
experienced
a
notable
rally,
climbing
17%
in
the
past
7
days
and
an
impressive
104%
over
the
last
30
days.
This
outstanding
growth
underscores
increasing
excitement
surrounding
Chainlink’s
expanding
role
in
blockchain
innovation.

LINK/USD
Market

Key
Levels

• 
  
  Resistance:
  
  $29.45,
  $32.00,
  $35.00
• 
  
  Support:
  
  $21.65,
  $14.68,
  $12.00

The
daily
chart
for
LINKUSD
reveals
a
significant
bullish
momentum,
with
the
current
price
standing
at
$28.24,
reflecting
a
remarkable
17.27%
increase.
The
price
is
trading
well
above
the
20-day
simple
moving
average
(SMA)
at
$21.65,
which
serves
as
an
initial
support
level.
Additional
support
is
observed
at
$14.68,
aligning
with
the
lower
Bollinger
Band,
while
a
deeper
retracement
could
test
$12.00,
which
coincides
with
prior
consolidation
zones.
The
RSI
is
currently
at
69.64,
nearing
the
overbought
threshold
of
70,
suggesting
that
while
the
uptrend
is
strong,
a
temporary
pullback
could
occur
if
bullish
momentum
weakens.

On
the
resistance
side,
the
immediate
level
to
watch
is
$29.45,
the
recent
high
achieved
during
this
rally.
Should
LINKUSD
break
this
level,
the
next
resistance
could
emerge
around
$32.00,
a
psychological
round
figure
and
a
potential
Fibonacci
extension
level.
A
further
bullish
breakout
might
aim
for
$35.00,
which
marks
a
historical
resistance
from
a
previous
price
cycle.
If
LINKUSD
fails
to
breach
these
resistance
levels,
a
retracement
toward
the
$23.88
region,
aligned
with
the
middle
Bollinger
Band,
could
be
expected.
The
current
chart
setup
suggests
cautious
optimism,
with
bullish
momentum
persisting
as
long
as
key
support
zones
remain
intact.

Can
Chainlink
Surpass
the
Recent
High
of
$29.4
as
Momentum
Builds?

Chainlink
(LINK)
is
steadily
climbing
toward
its
recent
high
of
$29.4,
driven
by
strong
market
momentum
and
growing
investors’
confidence.
Currently,
LINK
is
demonstrating
bullish
strength,
supported
by
its
recent
recovery
and
increasing
trading
volume.
Technical
indicators
point
to
sustained
upward
movement,
with
immediate
resistance
at
$29.4
and
support
around
$21.
If
LINK
surpasses
this
key
resistance,
it
could
open
the
door
for
further
gains,
potentially
marking
a
significant
milestone
in
its
price
trajectory.

LINK
Partners
With
Trump’s
Coin
–
What
Next?

Fundamentally,
Chainlink’s
robust
adoption
and
critical
role
in
blockchain
ecosystems
directly
influence
its
price.
As
the
leading
decentralized
oracle
network,
its
integration
into
DeFi
protocols
and
enterprise
solutions
increases
its
utility
and
demand.
Recent
high-profile
partnerships
and
adoption
by
institutional
players
highlight
its
value
proposition,
signaling
trust
and
long-term
growth
potential.
This
heightened
demand
for
LINK
tokens
to
facilitate
oracle
services
drives
buying
pressure,
contributing
to
its
price
appreciation
and
reinforcing
its
upward
trajectory.

LINK/BTC
Performance
Insight

The
LINK/BTC
daily
chart
shows
a
significant
bullish
momentum,
with
the
price
trading
near
the
upper
Bollinger
Band,
indicating
strong
upward
pressure.
The
RSI
at
68.41
reflects
near-overbought
conditions,
suggesting
potential
caution
but
maintaining
bullish
strength.
LINK/BTC
has
risen
sharply
from
its
recent
low
of
0.0001446
to
a
high
of
0.0002915,
showcasing
a
17.02%
gain.
Bullish
signals
on
the
RSI
Divergence
Indicator
reinforce
the
positive
sentiment.
Immediate
support
lies
at
0.0002217,
with
resistance
at
0.0002915
as
the
next
critical
level.
A
sustained
breakout
above
resistance
could
further
solidify
the
bullish
trend.

A
well-known
cryptocurrency
enthusiast,
ChainLinkGod,
recently
shared
on
X
that
the
President
of
the
United
States,
Donald
Trump,
has
reportedly
made
an
on-chain
purchase
of
$1
million
worth
of
LINK.
He
suggested
that
this
development
signals
a
wave
of
success
and
substantial
growth
ahead
for
the
cryptocurrency,
implying
increased
confidence
and
potential
institutional
interest
in
LINK’s
future.

The
President
of
the
United
States
for
the
next
four
years
just
purchased
$1M
of

$LINK
onchain

You’re
going
to
get
tired
with
how
much
winning
you’re
about
to
experience

pic.twitter.com/n8NZNtxLUu

—
Zach
Rynes
|
CLG
(@ChainLinkGod)

December
12,
2024

Alternatives
to
LINK

Chainlink’s
expanding
prominence
within
the
DeFi
sector
underscores
its
pivotal
role
in
delivering
vital
on-chain
data
and
fostering
seamless
cross-chain
connectivity.
With
its
ecosystem
supporting
over
$16
trillion
in
transaction
value,
Chainlink
has
solidified
its
position
as
a
cornerstone
for
decentralized
finance
protocols,
enabling
real-time
data
access
and
integration
across
multiple
blockchain
networks.
While
Chainlink
remains
a
key
player,
emerging
projects
are
also
capturing
investor
attention,
with
Wall
Street
Pepe
($WEPE)
standing
out
as
a
notable
example.
Despite
prevailing
market
challenges,

$WEPE
has
raised
an
impressive
$7.8
million
in
its
presale,
reflecting
strong
investors’
interest.
Currently
priced
at
$0.000213,
the
token
presents
an
attractive
opportunity
for
early
participation.

Wall
Street
Pepe’s
unique
appeal
lies
in
its
creative
take
on
the
iconic
Pepe
the
Frog
meme,
combined
with
a
utility-driven
ecosystem
tailored
to
everyday
crypto
investors.
Central
to
its
offering
is
a
private
insider
community
where
traders
can
share
insights
and
refine
strategies.
Complementing
this
are
advanced
trading
tools,
real-time
market
signals,
and
actionable
advice
designed
to
empower
smaller
investors
navigating
the
complexities
of
the
crypto
market.

Wall
Street
Pepe
Poised
To
Become
Better

The
project’s
momentum
is
further
evidenced
by
its
growing
online
community,
particularly
the
expanding
“WEPE
Army”
on
Twitter.
With
over
4.7
billion
$WEPE
tokens
staked
at
an
impressive
annual
yield
of
167%,

Wall
Street
Pepe
is
gaining
traction
among
retail
investors
eager
to
explore
its
trading-focused
ecosystem.
As
development
progresses,
the
project
holds
the
potential
to
carve
a
profitable
niche
within
the
cryptocurrency
landscape.

Visit
Wall
Street
Pepe.

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