Chainlink is a decentralized blockchain oracle network (DON) built on Ethereum that facilitates smart contracts on blockchain platforms to securely connect with external data sources, APIs, and payment systems.
LINKUSD was one of the best performers this week.
Any weekly close above $25 confirms further bullishness.
LINKUSD surged more than 30% in the past three days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $16.71 and is currently trading around $16.38.
The bullish invalidation can happen if the pair closes below $4.80. On the lower side, the near-term support is $14. Any break below targets $11.80/$10/$9.20/$7.
The immediate resistance stands at around $25. Any breach above confirms a minor pullback. A jump to $27/$30 is possible. A surge past $30 will take LINK to $35/$40.
It is good to buy on dips around $12 with SL around $8 for TP of $25.
