Chainlink Breaks Out Above Resistance, Reaching New Highs Amidst Growing Network Activity

Chainlink (LINK) is breaking out above resistance as it continues its upward trajectory. The token surpassed $26 and reached a new all-time high near $4,500, fueled by surging network activity and expanded data streaming capabilities. Daily wallet activity hit a yearly peak on August 17th with 9,813 unique transactions. Real-time data feeds including Apple, NVDA, and QQQ ETFs are bolstering the token’s utility, driving greater demand for LINK. The price is currently consolidating after a pullback from highs above $26, forming a cup and handle pattern. If this pattern holds, it could indicate a breakout above $30, which would signal significant growth.