The blockchain data network Chainlink is advancing towards an eagerly awaited bullish breakout. Experts suggest that Chainlink’s proprietary LINK currency is on the verge of initiating a fresh upward trend. LINK has experienced a 12% increase in the past week and is currently advancing toward surpassing the $17 mark. The market’s evident backing enabled the asset to regularly finish trading higher than its 50-day moving average despite widespread fluctuations. LINK has experienced a 6.1% increase over the past day. Importantly, Chainlink is on the verge of recording a weekly relative strength index (RSI) figure above 70, a level it hasn’t reached since its significant rally came to a halt in 2021. The growing energy adds to the increasing hope for a shift in market direction following a period of stagnant trading that persisted for much of the past year. Further information: Exploring Cardano price forecasts – what are the potential milestones for ADA to hit $3, $7.03, and $10.40? This week, cryptocurrency expert Michaël van de Poppe indicated that he believes Chainlink’s LINK token is preparing to break through the key resistance area of $25 to $30. He argues that the prolonged period during which the price remained around $12.20 acted as a phase of gathering strength before experiencing swift growth. Poppe also observes increasing indications that alternative cryptocurrencies are regaining their leading position in the market following a period of dominance by Bitcoin over the summer. He further noted that there were numerous tests of resistance and that the BTC pair began to hit its low point as ETH started an upward trend. Additionally, see the comparison between Shiba Inu and…