Chainlink Breaks $4,500 Barrier as Fibonacci Retracement Zones Suggest Potential Targets

Chainlink (LINK) has surpassed the $4,500 barrier, setting a new all-time high. This surge is attributed to robust DeFi growth and increasing institutional investments according to analysts. The current price action aligns with Fibonacci retracement levels, indicating potential targets of $20.70 and $25.30. These targets are based on the 0.618 and 0.886 levels respectively on the daily price chart. A stop-loss order at $10.00 helps manage downside risk if the pattern fails. If Chainlink sustains a move above $12.70, this could indicate a stronger bullish trend.