Chainlink Price Surges Past Recent High Amid Oracle Network Growth
Chainlink's price has broken through its recent high and is now trading above $8.764, confirming a bullish trendline breakout setup.
The price moved from $5.48 to $8.795, representing a +64% increase over the past four days, with an additional +3.76% gain in the last 24 hours.
The Chainlink oracle network has now enabled $32.8 trillion in transaction value, according to its official dashboard, and $LINK currently secures roughly $45.6 billion through smart contract applications running on those oracles.
Steady LINK ETF inflows are also supporting the setup, with net inflows of $151.81K on July 24 and $153.91K on July 23, pushing the cumulative net inflow figure to $128.14M even as total net assets eased slightly to $111.45M over the same stretch.
The bear trap narrative is playing out, with shorts getting flushed out as the price broke higher, indicating a potential upside target of $9.312 and $9.686, with $10.262 as a further extension if momentum holds.