Chainlink has seen a surge of nearly 10% in the past week, indicating a potential breakout from its current price channel. Analysts believe that the broader crypto market recovery and expectations of an altcoin season could lead to a trend reversal for Chainlink. Recent analysis suggests that a significant whale buying spree, along with several bullish catalysts, is driving Chainlink's price surge. The 30-day Market-Value-to-Realized-Value (MVRV) ratio has increased, indicating potential growth, while the 365-day MVRV ratio remains negative, suggesting further room for growth for long-term holders. Social volume for Chainlink has increased, and its value against Bitcoin has also risen. Chainlink's daily chart shows signs of recovery, with support established at $9.60 and a recent double-bottom reversal leading to a 28% price increase. The MACD indicator and Fibonacci retracement levels suggest that Chainlink could potentially reach targets at $14.21, $15.64, and even the upper boundary of the falling channel at $22.



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