Chainlink Surpasses $20 Trillion in Transaction Value, Igniting Bullish Momentum

Chainlink (LINK) has reached a major milestone by surpassing $20 trillion in total transaction value (TVE) on its network. This milestone is a result of increased network activity, with traders purchasing millions of dollars worth of LINK and active addresses hitting a new high. The strong TVE indicates growing adoption among various blockchains and protocols that rely on Chainlink's oracle services for accurate price data. Recent analysis highlights that LINK is in a bullish phase, having slightly broken out from an ascending triangle pattern—a technical indicator often associated with accumulation and potential rallies. Key resistance levels at $15.45 and $16.42 may serve as hurdles, but overcoming them could pave the way for LINK to reach its projected target of $17.67. The trend of transferring assets from exchanges to private wallets suggests that traders are optimistic about long-term holding and price appreciation, further reinforcing the asset’s bullish momentum.