Chainlink (LINK/USDT) Eyes Bullish Breakout as Momentum Builds Above $13.63

Chainlink Long-term Analysis: Bullish

The market for Chainlink against the Tether has undergone a significant correction since its late 2024 November high. However, the pair appears to be rebounding from a key long-term simple moving average, moving to the north after a breakout from a prolonged consolidation phase.

Recently, the pair has bounced strongly above the immediate close, gaining over 20% and pushing through multiple moving averages. However, the current spike in volume and the bullish crossover on the Stochastic RSI suggest more upside movement if momentum holds.