LINK Price Climbs in Fresh Crypto Market Rally
Chainlink (LINK) price increased by 3% to $9.27 over the past 24 hours, supported by improved sentiment in the cryptocurrency market on Friday, according to trading data from exchanges.
LINK’s market capitalisation rose to about $6.6 billion on Friday, and its trading volume was approximately 15% higher at $747 million.
The crypto market is moving positively at the press time. The entire crypto market cap rose 2.35% in 24 hours, with Bitcoin up 2.54%. Chainlink’s nearly identical gain indicates it was driven by general market beta. The rally was fueled by positive inflows into spot Bitcoin ETFs.
LINK price broke above a major resistance cluster around $9.17, which aligned with the 0.618 Fibonacci retracement level and the volume-weighted average price.
The move was accompanied by a 14% increase in 24-hour volume to $744.3 million, suggesting genuine buying interest. The breakout invalidates the immediate bearish technical structure and shifts near-term momentum in favour of bulls.
The immediate path depends on whether LINK can sustain above the $9.17 breakout level. The next significant resistance is near $9.72. Key support lies at $8.36, with a break below opening a path toward $8.24.
The outlook is cautiously bullish above $9.17 but remains range-bound between $8.36 and $9.72 until a clearer directional catalyst emerges. A rejection and a close back below $9.17 would signal a false breakout and likely trigger a retest of support. TRUMP Falls as Investors Rotate Capital from Meme Tokens
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