Chainlink Price Eyes Crucial $12.50 Breakout Amid Growing Institutional Interest

Chainlink's price has been on a tear in recent days, rising by 12.03% over the past 24 hours to reach $11.66 per token.

The cryptocurrency is currently trading at $12.06, and according to some analysts, breaking through the $12.50 resistance level could be a crucial milestone for Chainlink's price action.

One key factor supporting Chainlink's price is the growing interest in its oracle and real-world asset infrastructure, which has been gaining traction in recent weeks.

In fact, institutional investor Bitwise has been actively accumulating LINK tokens, purchasing 727,170 units over the past week alone.