Chainlink (LINK) has made a significant move, breaking a four-year downward trend and reaching new highs. This technical breakthrough comes with strong support from institutional demand and potential shifts in tokenomics. 📈 💰 💡 📊 The upward price action is visible on the monthly chart, where LINK finally breached the descending resistance line that capped rallies since 2021. The surge has traders watching for sustained growth as volume increases, while analysts see $26.60 (the 23.6% Fibonacci retracement) as a first significant level to watch. The momentum is fueled by multiple factors including increasing institutional adoption of Chainlink’s data feeds and the Chainlink Reserve program that is actively buying up tokens. This mechanism is expected to contribute significantly to supply tightening in the long term, creating a deflationary pressure on LINK price. 🔒🚀 💰 Chainlink has also secured significant partnerships, including one with Intercontinental Exchange (ICE), a major player in the global financial markets. This partnership brings real-time FX and metals pricing into DeFi, further solidifying Chainlink’s position as critical infrastructure for tokenized markets. 💪 Institutional adoption of Chainlink is growing, adding fuel to this price rally. 📈 Overall, this breakout signals a potential for sustained growth in LINK’s price with long-term implications for the broader crypto market.