Chainlink Volume Spikes 65% in 24 Hours: Can It Fuel Breakthrough Past $12?

Chainlink's LINK token has seen a significant surge in trading activity over the past day, with volume increasing by more than 65% on various exchanges. The $12 resistance level remains a key focus for traders, as futures data indicates that buying pressure is still strong.

After correcting from its recent peak above $13.50, LINK has struggled to break through the $12 barrier, but the current increase in trading activity may provide the necessary boost to overcome this hurdle.

The technical structure of the market remains constructive, with LINK trading above its major moving averages and the Relative Strength Index (RSI) cooling down towards mid-50s. However, buyers still need to translate increased volume into real spot demand to sustain a breakout.