Chainlink’s native token, LINK, demonstrates technical strength by holding above the $16.49 level, consolidating within a rising price channel.
A strong support base is established at $13, considered critical for the current bullish structure. Concurrently, LINK faces key resistance levels at $17.64 and subsequently $20.22.
Notably, Chainlink protocol activity remains robust. Daily fees generated are approaching $20,000, indicating sustained on-chain utility, even as the network itself reports zero revenue.
Technical analysis suggests a potential bullish breakout. A sustained move above the $17.64 resistance could signal further upward momentum, with a long-term technical target near $46 contingent on continued support at $13.
Additional metrics reveal a 13.81% drop in the 24-hour trading volume to $373.3 million. The Relative Strength Index (RSI) currently reads 47.95, positioning it in neutral territory but indicating potential for an upward shift in momentum.