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Following
LINK Chainlink (LINK) price momentum recovers, institutional buying drives gains
Chainlink (LINK) price momentum has rebounded again recently, institutional buying and growing demand for its network infrastructure have made traders more optimistic. Buyers have successfully held on to recent gains and consolidated the rebound momentum. If they can break through key resistance levels, they are expected to usher in a larger rally.
LINK Price and Key Resistance
The latest data shows that LINK is trading at US$12.06, up 12.03% in the past 24 hours. The 24-hour trading volume reached US$1.04 billion, and the market value reached US$9.03 billion. The price trend of the currency has attracted market attention, and the US$12.50 resistance area is currently seen as a key threshold for a trend shift.
The continued rise depends on whether LINK can break through and stabilize this level. A strong breakthrough of US$12.50 may further strengthen market optimism, and traders will target US$20 next. If momentum continues to increase, the price may even approach $28.
Market participants are closely watching the $12.50 resistance level for signs of a continued reversal. Once this level is exceeded, LINK is expected to open up room and hit higher goals against the background of renewed institutional interest.
Bitwise ETF promotes institutional accumulation
Institutional demand is the main driving force behind LINK's recent strength. Bitwise Asset Management, which focuses on launching multiple cryptocurrency ETFs, continues to accumulate LINK for its Chainlink products. In a recent transaction, Bitwise Chainlink ETF purchased 163,379 LINKS worth approximately US$1.85 million.
In the past week, Bitwise has purchased approximately 727,170 LINK units with a total value of US$5.515 million, with an average entry price of US$7.585. Based on the current LINK price of $12.06, Bitwise has made unrealized gains of more than 50% from its latest purchases.
The following are the relevant data of the Bitwise Chainlink ETF: 727,170 LINKS were purchased within a week, with a total value of US$5.515 million, with an average entry price of US$7.585, and the current LINK price of US$12.06, with unrealized gains exceeding 50%.
Bitwise's Chainlink ETF activity has attracted attention from retail and institutional investors, suggesting that further accumulation could drive continued bullish momentum. Bitwise Asset Management is a U.S. -based investment management company focusing on index and themed products in the digital asset market.
Technical Outlook and Market Expectations
LINK's short-term prospects depend on whether it can break through and stabilize the US$12.50 resistance zone. If this level can be recovered with strong buying and increased trading volume, technical analysts believe that prices are expected to move towards $20 and may even rise further to $28 if momentum continues.
Blockchain oracle solutions and widespread attention to real-world asset (RWA) networks have also provided support for Chainlink's long-term narrative. The project is known for providing decentralized data oracles, a mechanism that is critical to securely connecting smart contracts with off-chain information.
Market observers are expected to focus on subsequent ETF inflows and any technological breakthroughs, factors that could provide further confirmation of Chainlink's trend development. LINK's next big test is $12.50, and once this resistance level is cleared and trading volume remains high, bullish momentum is likely to strengthen further.
