Chainlink Breaks Through $12.50 Resistance Zone, Boosting Bullish Prediction

Chainlink's price prediction for September 8 remains bullish as long as its price stays above $12.50, a level that had previously blocked every rally attempt since August until now. The cryptocurrency has broken through this resistance zone and is currently trading at $13.454, up 1.64% on the day.

The whale's recent activity of sending $7.6 million to Coinbase doesn't necessarily confirm an intent to sell, as exchange deposits can also reflect staking or trading purposes. However, it's worth tracking given the size and timing of this activity, which has run in parallel with Chainlink's entire breakout.

Traders like Axel Bitblaze are bullish on Chainlink, citing its role in tokenized stock pricing on Coinbase, DTCC's collateral platform targeting a Q4 commercial launch, and Schwab's plans to add Chainlink trading in the coming months. These developments could drive demand for Chainlink's services and contribute to its price growth.