Chainlink's price is on the verge of breaking out from a multi-year symmetrical triangle pattern, with exchange reserves dropping from 200 million to 145.6 million LINK, indicating reduced selling pressure. The price is currently testing the triangle's lower boundary at $17.50, with resistance at $21.80 and support at $16.57. A potential dip to $15 is seen as a strategic buy zone before a possible surge to $100.
Chainlink has expanded its integrations across 24 blockchains, including Ethereum, Solana, and Polygon, and is now powering Circle's Arc layer-2 network. Institutional interest could increase with Grayscale's proposed GLNK spot ETF conversion, further supporting Chainlink's growth prospects.
Chainlink Nears Breakout as Supply Drops and Integrations Expand
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