Chainlink ($LINK) sustains bullish momentum by holding above the critical $12 support level, driven by reduced exchange supply and expanding CCIP adoption.
On-chain metrics reveal a significant outflow of 220 million LINK tokens from exchanges, signaling diminished selling pressure and increased investor confidence.
According to COINOTAG sources, the integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) across multiple networks enhances its long-term utility and market appeal.
Chainlink holds above $12 with bullish momentum, reduced exchange supply, and growing CCIP adoption driving potential gains toward $18–$20.
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Chainlink’s price action remains robust as it consistently holds above the $12 support level, a key threshold that has historically influenced market cycles. Technical analysis from Ali Charts highlights that sustaining this level could catalyze a breakout toward the $18–$20 range. The current consolidation pattern, characterized by higher lows, suggests an accumulation phase that often precedes upward momentum.
Trading at approximately $13.34 and maintaining position above the 200-day moving average near $13, Chainlink demonstrates strong dynamic support. The $13–$13.25 price zone is crucial for short-term strength, with a decisive move above $15 potentially unlocking further gains. This technical setup indicates a favorable risk-reward profile for traders and investors anticipating a bullish continuation.
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Source: https://en.coinotag.com/chainlink-holds-above-12-support-amid-reduced-exchange-supply-and-growing-ccip-adoption-potential/