• LINK bulls must flip the $24 resistance into solid support to reinforce a breakout toward $30.
• Without this crucial move, FOMO may stay subdued.

Chainlink [LINK] kicked off December with a strong start, posting a remarkable 30% surge in just one day, marked by a long green candlestick on its daily chart. 

Unlike other assets, LINK has capitalized on Bitcoin’s[BTC] steady climb towards the $100K milestone. Its late entry into the rally is well-timed, as many of its competitors show signs of overheating. 

LINK is now just 10.8% away from reaching its 3-year high of $28.50, which occurred in January 2022. With market volatility peaking, the project’s solid fundamentals will be key to pushing LINK past the $30 mark, all while keeping retail FOMO in check.

Buyers must plan their LINK strategy wisely

Compared to its monthly performance, where LINK lagged behind its counterparts, its remarkable 40% jump in the past week has made it a standout performer.

However, weak hands failed to capitalize on the further upside, exiting with significant gains, which led to a notable pullback near $24.

Still, a long road lies ahead. Approximately 17,000 addresses holding around 6.64 million LINK tokens, bought at a minimum price of $24.98, remain in profit, making this price point a significant resistance level.

Therefore, turning this level into solid support will be crucial for a breakthrough to $30. If the price falls below this threshold, it could trigger panic selling.

As the name implies, ‘support’ reflects strong buying interest from institutional investors and bulls. They see this price as a bottom and anticipate significant future gains.

If this strategy plays out, LINK could reclaim a mark it

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Author: Ripley G