Chainlink Climbs 17% In One Week: How High Will LINK Go?

Chainlink (LINK) is in the midst of a price surge, after months of its price tumbling. At press time, LINK is trading at $12.24, up 17% in the last seven days. August was a troublesome month for the asset, however, several indicators are projecting this to be the start of a huge rise.

The overall market has recovered from the bear phase in August, with Bitcoin taking charge as the king coin in town. When Bitcoin surges in price, typically other coins in the industry follow, including meme coins and altcoins. Chainlink has been one of the biggest recent beneficiaries of this surge. Investors are eyeing additional gains as LINK continues to trade in a bullish trend.

Can Chainlink (LINK) Hit $20 After Bitcoin Halving?
Source: Cryptonomist

Also Read: Cardano Founder Calls Ethereum a “Dictatorship”

Chainlink (LINK) is the top altcoin on the cryptocurrency market. Numerous signs signaled this coming rise, and that currently reveals the surge will continue. The top altcoin is hovering above the $12 support level, indicating strong market sentiment and potential for further growth. Additionally, the Moving Average Convergence Divergence (MACD) shows a positive bullish momentum for LINK.

Furthermore, according to Coinglass data, Chainlink LINK’s trading metrics have significantly increased recently. The asset’s trading volume has surged by 31.54%, reaching $379.43 million. In addition, open interest has also risen by 17.32% to $187.68 million. When these two indicators rise parallel, it typically means heightened activity and liquidity in the market, which pumps price.

  • chainlink
  • LINK

Comments

Post a Comment

Popular posts from this blog

Barry Silbert deletes old tweets amid GBTC selloff

Under-fire Digital Currency Group founder Barry Silbert has apparently deleted a raft of his old tweets . According to his X (formerly Twitter) account, Silbert signed up in October 2011, however, at the time of writing, his timeline shows no tweets or replies older than January 5 this year. Luckily for die-hard Silbert fans, X user Pledditor has screenshotted some of his “greatest hits.” Looks like @BarrySilbert has deleted all his old tweets The good news? I have screenshotted some of his greatest hits pic.twitter.com/GLWPbCf5mN — Pledditor #FixTheFilters (@Pledditor) January 15, 2024 Read more: Former DCG advisor Larry Summers on list of Jeffrey Epstein’s ‘Harvard friends’ Among the messages saved by Pledditor is a classic in which Silbert brands himself a “ complete and total professional failure ,” and one in which he advises Dogecoin holders to convert it to bitcoin. It’s not clear what prompted Silbert’s Social Media cull but he’s currently taking Social Media flak
Read more

Trader Issues Warning on Solana Rival That’s Up 247% in One Month, Updates Outlook on LDO and One Other Altcoin

Image
A widely followed crypto strategist warns that a Solana (SOL) competitor that’s up more than 3x in the last 30 days is flashing signals that it may have printed a short-term top. The pseudonymous analyst known as Altcoin Sherpa tells his 205,700 followers on the social media platform X that while layer-1 blockchain Sei (SEI) is still in an uptrend, it starting to show signs of bullish exhaustion. “Why it looks good: -consolidation and highly bullish high time frame market structure -still bullish on all time frames -EMAs (exponential moving averages) all catching up + other alts looking strong Why it doesn’t: -could be an exhaustion pump here and last big move up -could be rotation from others (SOL/SEI/etc/) to ETH season also known as ARB/LDO/OP -dying volume/some signs of distribution here.”  Source: Altcoin Sherpa/X At time of writing, SEI is trading for $0.785, up over 247% from its 30-day low of $0.226. The trader is also keeping an eye on the price
Read more

Nuant becomes a member of the OpenWealth Association

On January 18, Nuant joined the OpenWealth Association, contributing to advancing digital assets risk management within Swiss banking, WealthTech, and traditional finance, per the information shared with Finbold. In doing so, Nuant recently joined traditional finance entities such as Credit Suisse, LGT, VP Bank, and WealthTech firms like Assetmax and InvestSuite. This strategic partnership represents a noteworthy progression in crypto investment risk management within Switzerland’s financial sector. The OpenWealth Association aims to establish, uphold, and implement open Application Programming Interface (API) standards within the global wealth management community. This commitment aims to facilitate seamless financial data exchange among institutions. Nuant as representative of the CeDeFi sector Cryptocurrency Anthony Scaramucci says Bitcoin to skyrocket to $170,000 by 2025 Cryptocurrency Donald Trump says he’ll ‘never allow a CBDC’ if elected
Read more