LINK Jumps 8% as Chainlink Defies Market Slump, Clears Key Resistance
Chainlink’s native token LINK rallied 8.3% over the past 24 hours, reaching $25.93 and fully reversing the prior session’s decline. The move came as broader crypto markets struggled to regain footing, with Bitcoin (BTC) edging up just 0.5% and Ether (ETH) rising 4%. The CoinDesk 20 Index posted a modest 1.5% gain.
LINK’s outperformance was driven by strong technical momentum and renewed investor interest, as the token broke through key resistance levels at $24.50 and $25.20 on higher-than-average volume. Support now appears established in the $23.50–$23.60 range.
The price surge reflects Chainlink’s growing strategic role as a bridge between traditional finance and blockchain-based systems. Analysts pointed to the network’s deepening institutional integrations as a key factor in LINK’s resilience.
Adding to investor confidence, Chainlink co-founder Sergey Nazarov disclosed a recent meeting with U.S. Senator Tim Scott to discuss the revamped market structure bill. Nazarov praised the proposal’s potential to accelerate crypto innovation within a more supportive U.S. regulatory framework.
Meanwhile, Chainlink Reserve — a buyback mechanism that allocates protocol revenue toward LINK purchases — has acquired over 109,000 tokens (worth roughly $2.8 million) in the last two weeks. Another round of weekly purchases is set for Thursday.
Technical Snapshot:
- 24-Hour Price Change: +8.3% (from $23.96 to $25.93)
- Support Zone: $23.50–$23.60
- Resistance Levels Broken: $24.50, $25.20
- Volume: Elevated during breakout and consolidation phases
