- LINK breakout signals possible 217% upside if momentum is sustained.
- OnRe uses Chainlink to bring NAV transparency to reinsurance markets.
Chainlink (LINK) has entered a bullish phase following a long period of consolidation. According to technical analysis shared recently by WorldOfChartsfx, Chainlink (LINK) has broken out of a descending resistance line that has persisted since late 2024.
This breakout was observed on the 2-day chart, with the pattern signaling a shift in trend, supported by increasing trading volumes. At the time of analysis, LINK was priced at $15.38 and showed a 0.98% intraday gain.
The breakout points to a potential move toward the $30–$50 range, suggesting gains of over 217% if bullish momentum continues. LINK can establish support above the breakout level. The upward trajectory has placed LINK on the radar as a potential top performer in the altcoin space this quarter.
LINK Climbs Above $15 With Bullish Price Action
At press time, LINK is trading at $15.60, reflecting a 9.02% gain in the last 24 hours. The price has moved steadily from an intraday low of $13.26, confirming upward momentum.
Immediate resistance is seen at $16, which may act as a short-term barrier. A sustained break above this level could trigger further price acceleration.
Support is clearly defined around $13.25. Holding this level would maintain the bullish structure and prevent potential retracements.
Technical indicators and market structure suggest traders are responding positively to the breakout. Short-term price movement will likely hinge on whether LINK can convert resistance into support in the coming sessions.
Chainlink Integrated by OnRe for Onchain NAV Data
Chainlink, in a recent blog post by OnRe, announced that it continues to expand its real-world use cases. OnRe, a reinsurance platform on Solana, has integrated Chainlink’s Onchain NAV. This allows OnRe to stream daily, verifiable net asset value (NAV) data for its yield-bearing token, ONyc.
ONyc combines reinsurance premiums, tokenized treasuries, and crypto-native yields. With over $15 million in total value locked (TVL), the platform is enabling DeFi integration and secondary market liquidity. OnRe selected Chainlink for its reliable, institutional-grade infrastructure to ensure data security and transparency.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
