CoinDesk 20 Index Hits Record Highs Led by Ripple, Chainlink Gains
CoinDesk 20 Index Hits Record Highs Led by Ripple, Chainlink Gains

CoinDesk 20 Index Hits Record Highs Led by Ripple, Chainlink Gains

News summary

The CoinDesk 20 Index has shown consistent gains over recent days, reaching a new high of 4058.09 with a 3.4% increase, reflecting broad-based growth in the cryptocurrency market. Chainlink (LINK) has exhibited strong bullish momentum, gaining around 3.48% and trading near $16.50, supported by robust trading volumes exceeding $900 million and solid technical patterns indicating potential breakouts. Analysts highlight that LINK is approaching key resistance levels between $16.00 and $16.50, with possible upside targets toward $17.20 and even $18.00 if these barriers are surpassed. Additionally, macroeconomic indicators such as the rising M2 global liquidity index suggest LINK may be undervalued, reinforcing bullish sentiment for a continued rally. The technical outlook for Chainlink is supported by formations like multi-year symmetrical triangles and breakouts from descending triangles, projecting significant percentage gains if these patterns fully develop. Overall, both the CoinDesk 20 Index and Chainlink's price action signal positive trends in the crypto market with strong buying interest and structural strength.

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Daily Index

Negative

22Serious

Neutral

Optimistic

Positive

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