LINK Price Surges to 19.63 USDT — Is a New Bull Run on the Horizon?

LINK Latest Price and Market Performance

Chart: https://www.gate.com/trade/LINK_USDT

According to Gate platform data, as of July 23 at 12:45 UTC, LINK/USDT traded at $19.636, up $0.542 (+2.83%) in the last 24 hours, with a trading volume of 1.55 million LINK and a turnover of 29.74 million USDT. The current price remains above key moving averages (MA5: 19.578, MA10: 19.543, MA30: 19.548).

Looking at the price chart, LINK experienced a strong rebound from its July 13 low of 14.709. It hit a local peak of 20.270 on July 20, indicating a bullish uptrend.

Technical and Fundamental Drivers Behind the Price Surge

1. Technical Analysis: The current 15-minute candlestick chart shows LINK consolidating around the $19.6 level, with short-term moving averages converging, which may indicate a potential breakout.
2. On-Chain Data: Chainlink’s network oracle requests have surged recently, and DeFi protocols are increasingly utilizing Chainlink, providing fundamental support for the token.
3. Macro Environment: The overall crypto market sentiment has improved, with BTC and ETH maintaining steady performance—driving capital inflows back into altcoins.
4. Order Book Depth: Order book data indicates balanced buy and sell orders, which is supporting greater price stability.

Investment Opportunities Amid Market Uncertainty

LINK is at a critical technical juncture. A break above the $20 resistance level may indicate further upside potential. However, a drop below support near $19.3 may trigger a short-term pullback or increased volatility. Short-term traders may monitor volume and price dynamics and breakout indicators, while mid-term investors may observe the market’s response to the growth of the LINK ecosystem.

LINK Outlook and Investment Strategy

In the medium to long term, Chainlink, as the leading project in the oracle segment, continues to enhance its market position. As demand grows for bridging decentralized finance (DeFi) and real-world assets (RWA), LINK is well positioned to sustain investor interest.

Key Levels:

• Short-term: Watch for price action between $19.3 and $20.3 for breakout opportunities.
• Mid-term: Accumulate on pullbacks and take profits above $20.5.