Chainlink Breaks Resistance: Potential Price Spike on the Horizon

Chainlink is poised for a major move as exchange holdings of its token, LINK, plummet to multi-year lows. This drop coincides with a growing trend in institutional adoption and suggests a potential supply shock scenario that could propel prices higher. The cryptocurrency currently trades at $23.70 and must clear the resistance zone between $24.5-$24.85 for a bullish breakout. Analysts are closely watching this confluence of factors, as it signals a potentially explosive price movement.