CandleFocus Chainlink (LINK) Price Soars 20% as Trump’s World Liberty Financial Fuels Rally
2024-12-12
Author: Content Editor
Chainlink (LINK) has experienced a significant surge in price, increasing by over 20% in the last 24 hours and reaching its highest levels in three years. This surge has pushed LINK to around $28, surpassing key resistance levels and indicating a renewed bullish trend. However, while the price rally is notable, there has been stable whale accumulation, and the Relative Strength Index (RSI) suggests that the uptrend may face challenges. The stability in whale numbers following a decline could indicate a shift in market sentiment. The RSI currently sits at 66, down from briefly exceeding 70, indicating strong upward momentum but also potential resistance. If RSI can stay above 70 for several days, the price could continue to climb. However, failure to sustain above 70 suggests a potential loss of momentum and the possibility of price consolidation or a pullback. The recent surge has brought LINK to its highest price since January 2022, and if the uptrend continues, reclaiming the $30 mark and reaching $35 could be the next targets.
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