Chainlink Price Rises to $16 as Liquidity Trends Signal More Upside Ahead

Chainlink's price has risen to around $16, facing resistance between $16.00 and $16.50. Analysts suggest a breakout above this level could lead to a further 10% price increase, potentially reaching $17.60-$18.00. Support levels exist between $13.50 and $11.60, indicating buying interest. There's a suggested correlation between Chainlink's price and global money supply (M2), indicating that Chainlink might be undervalued, with a theoretical valuation of around $60 based on M2 trends. Over the past day, Chainlink saw a 4.17% gain, with trading volume exceeding $659 million, supporting the upward trend. Key support levels are noted around $13.50 and $15.20, and maintaining above $15.50 could sustain the rally.