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LINK LINK price broke through to US$12.20, with strong bullish momentum
Chainlink (LINK) price has climbed from about US$7 to US$12.20, and the short-term trend remains positive. Traders are closely watching the key resistance range of $12.40-$12.45. Analyst Michael van de Poppe pointed out that 1,600 sats is an important breakthrough level, and once exceeded, it may open the target market towards 2,200-2,400 sats.
LINK regained the US$12 mark, buying pushed prices higher
LINK rebounded to US$12.204 from a low near US$11.00 -11.10 on September 2-3. This trend resulted in higher highs and higher lows, and prices broke through the psychological barrier of $12. However, LINK pulled back after hitting about $12.45. The latest K-line opened at $12.247, hitting a high of $12.286, dropping as low as $12.132, and finally closing at $12.204. This correction was mainly affected by resistance around US$12.40-US$12.45. Currently, US$12.00 has become short-term support, and the US$11.80 -11.60 range below it also constitutes further support.
Michael van de Poppe points to 1,600 sats as a key breakthrough point
Michael van de Poppe said LINK has turned bullish in the near term after a long downtrend. He pointed out that previous resistance levels are turning into support levels. According to van de Poppe's analysis, if the price exceeds 1,600 sats, it is expected to continue to move towards the 2,200-2,400 sats range. He described the range as an area of potential regression opportunities. From the perspective of dollar pricing, there is still a high resistance area above. If it can effectively break through US$12.40 -12.45, the next target will be US$12.60; if it encounters rejection, LINK may fall back to US$12.00.
Sanitation data shows a 43% increase in new LINK wallet addresses
Sanitation reported that the number of new LINK addresses has increased by 43% in the past week. This data was compared with activity recorded in the first half of August. During the same period, UNI's new addresses increased by 87%, and AAVE's increased by 46%. SOL followed closely with a 32% increase, while ETH recorded an 8% decline. Sanitation also pointed out that creating new addresses is still relatively easy. As a result, some of the growth may come from excess wallets driven by free incentives, rather than from real new users.
Meanwhile, LINK's RSI indicator is 59.51, above the neutral level of 50, but has not yet entered the overbought zone.
Source: TradingView
Its RSI moving average is 64.93. The MACD line remains at 0.120, higher than the signal line's 0.114. The bar chart value is 0.006, indicating that the indicator remains positive overall, but shows limited signs of acceleration.
