Chainlink (LINK) is maintaining a strong uptrend after reclaiming its 200-day moving average. CoinDesk Research's technical analysis data model indicates analysts expect further gains due to growing DeFi adoption. This price action demonstrates resilience amid mixed global economic conditions.
The token has established a rising channel pattern, supported by bullish technical indicators. LINK has maintained its upward trajectory after breaking above the 200-day moving average, despite short-term resistance. Exchange outflows remain consistently negative.
This week, $11.27 million worth of LINK exited exchanges, following $55.2 million in outflows last week. Chainlink's technology continues to gain traction in DeFi, with recent integrations including JPMorgan, Ondo Finance, and Solana mainnet. Analysts project LINK could reach $20 in the near term, potentially growing to $50 by 2028 and $100 by 2030.
This article is based on our author's analysis of materials taken from the following resource: CoinDesk.