Chainlink (LINK), trading at 19.84 USD, is revealing potential growth indicators by testing key demand areas. Breaking past the 23.92 USD resistance could propel it to 32 USD. Recently, LINK’s price faced a 4.39% daily dip, yet sentiment from investors remains optimistic, paving the way for a possible market rebound.

Recent data show on-chain activity, with new addresses increasing by 46.39% and active addresses up by 74.07% over the past week, indicating potential accumulation. Exchange netflow reveals a 3.79% rise in outflows, suggesting diminished selling pressure. Additionally, both small and large transaction volumes have increased, bolstering confidence among various investor groups.