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LINK Chainlink: New hope for significant gains in the crypto world
Chainlink has attracted the attention of the crypto market after its recent gains, showing positive signs of recovery. According to the latest data, the LINK token transaction price is US$12.06, up 12.03% in the past 24 hours. Daily trading volume reached US$1.04 billion and a market value of US$9.03 billion, with traders closely watching the key US$12.50 resistance level.
Can LINK buyers regain control?
Indeed, LINK buyers seem ready to regain dominance after a long period of stagnation. This situation may indicate that its price trend is expected to rebound. If buying momentum continues, a breakthrough in the $12.50 area could trigger a broader trend reversal. This momentum needs to be maintained above resistance, with the initial target looking at $20, and if it continues to rise, it may rise further to $28.
Breaking through the US$12.50 level could strengthen the upward structure and push market sentiment in a more positive direction.
What is behind Bitwise's continued acquisition of LINK?
In recent developments, crypto expert Nazoku pointed out that Bitwise continues to buy through its Chainlink ETF products. The fund recently acquired 163,379 LINK units with a market value of approximately US$1.85 million. Bitwise is considered to be the leading asset management company in the digital asset space focusing on ETF and index solutions.
In the past week, the total acquisition volume reached 727,170 LINK units, with a cumulative value of US$5.515 million, and the average purchase price was US$7.585 per unit. With LINK hovering around $11.47, these positions currently have a book gain of more than 50%.
Resistance: US$12.50
1st Target: $20
2nd Target: $28
In addition to trading dynamics, the growing interest in the Chainlink app is also supporting market optimism. Notably, its Oracle services and real-world asset (RWA) infrastructure attracted a lot of investor attention. Oracle provides secure off-chain data for smart contracts, while RWA enables tangible assets such as real estate and bonds to be presented in blockchain form. [TAG
Investors will be watching Bitwise closely for further capital inflows and trends affecting the Chainlink ecosystem. From a technical perspective, LINK's key challenge is to break the $12.50 barrier with strong trading volume and build solid support above that level.
Bitwise's continued buying and growing interest in oracle and real-world assets have supported bullish expectations around Chainlink.
