Cryptocurrency Chainlink excels over other market counterparts.
In the dynamic world of cryptocurrency, Chainlink (LINK) has been making waves, strengthening its position with the launch of the Chainlink Reserve and strategic institutional partnerships. This move has solidified its standing in the market, despite a slight correction that has seen LINK maintain gains of 3.15% over the past 24 hours.
The digital asset has been on a bullish momentum, reaching a historic high near $27 on Asian markets. This impressive performance contrasts with the bearish trend of the market, making LINK one of the top-performing altcoins. In August, LINK soared by 42%, while Pyth Network, its main competitor in the oracle sector, progressed by only 0.33%.
The oracle sector has seen a significant rise of over 35%, but Chainlink is driving most of the growth. This growth is not solely based on speculation, as there has been an explosion of mentions and engagement on social media about LINK, indicating growing interest from investors.
However, it's important to note that this article is not a guide on how to buy LINK on Bitget, nor is it an advertisement for Bitget. For steps on purchasing LINK, please refer to the relevant guide.
On-chain data shows a decline in daily transactions for both projects since June, suggesting that the price increase is not solely supported by real demand. Key supports for LINK are at $19.2, $15-$17, and $12-$13. A drop below $15 targets $12. On the flip side, take profits could be aimed for at $24-$25, $36, and $52. A $60 target is possible if ETFs materialize.
As always, it's crucial to monitor the IPC (08/13/2025), liquidations, and partnership announcements. Use a stop-loss at $19.2. It's also worth noting that Pyth Network (PYTH) could potentially have a breakthrough, as it is the second player in the oracle sector.
Recently, Pyth Network integrated 85 Hong Kong stock prices updating every 400 milliseconds across over 100 blockchains, enhancing real-time data availability. In August 2025, the U.S. Department of Commerce began providing economic data via Pyth on ten blockchains (now extended to several more), making official data verifiable and manipulable-resistant on-chain. The last significant price surge for Pyth occurred in August 2025, when its price rose by about 57% following the announcement of this governmental data integration.
In conclusion, Chainlink's unique ecosystem and recent performance make it a cryptocurrency to watch. However, it's essential to approach investments with caution and always conduct thorough research. This article is not investment advice.
Volume Confirmation: A breakout above $24 requires a volume above $700 M. Buy on dips between $19.2 and $17, waiting for a 4h or 12h RSI in oversold territory. Keep an eye on market trends and developments to make informed decisions.
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