Chainlink (LINK) Surges Past $11 After Fed Rate Cut: What’s Next?

Chainlink (LINK) has surged past the $11 mark following the Federal Reserve’s recent rate cut, fueled by a surge in buying pressure. The token is now testing resistance at $11.86, a level that could determine its future price trajectory.

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The Fed’s rate cut, while unexpected, has injected a dose of optimism into the market. This positive sentiment has translated into renewed interest in LINK, a leading decentralized oracle network that plays a crucial role in connecting smart contracts to real-world data.

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While the $11.86 resistance level poses a significant challenge, the current bullish momentum suggests that LINK could be poised for further gains. However, traders should closely monitor market developments and remain cautious, as the cryptocurrency market is highly volatile.