Chainlink $24.05 (LINK) increased above $ 24, reaching the highest value of the last seven months. The interest of deposits with the chain and technical data indicates that LINK can potentially reach higher levels. If the price shows permanence at this level, the expectations of rise up to $ 47 in the medium term in the market came up.
Increased interest and foundations
The analysis draws attention to the trend of community interest behind this rise in the Chainlink price and the rising “Chainlink” keyword trend in search engines. According to Google Trends data, Chainlink searches have reached its highest level since May 2021. This indicates that investors’ interest in the project is strengthened.
According to experts, the fact that Chainlink is based on the decentralized data infrastructure and the bridge between the block chains and the real world makes the project a strong position in the current cycle. The project, which stands out as a reliable data provider, secured more than $ 93 billion asset value in total. According to data shared by Quinten Francois, the amount of Total Value Secured (TVS) reached the highest level of all time.
Chain Mobility and Whale Procedures
According to the latest data, the transactions of large investors (whale) on the chain with LINK went to the top of the three months and the increasing transaction volume drew attention. According to the information conveyed by the centimeter, 713 large transactions were realized daily with the last five -day price rise.
Santimement: “Whale transaction volume and number of large transactions have reached the highest values of the recent period in Chainlink.”
In the amount of LINK in the stock markets, a decrease of about 10 percent has been observed recently. Experts interpret this development as investors tend to hide their assets from the stock markets and reduce the pressure of the seller. This trend shows that the asset collection process is strengthened.
Technical Comments and Medium Term Targets
Technical analysis experts emphasize that the fifth wave was completed in the rise of LINK and the price is approaching critical $ 25. According to analysts, if this resistance is exceeded, a new output process may begin in long -term graphics for $ 47.
According to trading scenarios, the $ 22-23 band support zone and $ 25 stands out as critical resistance. Although the general trend is upward, it is stated that the probability of a serious correction may remain low as the current momentum continues.
Morecryptoonl: “If the Link exceeds $ 25 resistance, it can technically become a 47 dollar target.”
When all indicators are evaluated, technical strengthening, positive chain signals and increasing community interest indicates that downward risks are reduced and upward movements can continue. Experts say that this momentum captured by LINK can highlight the project in the periodic market cycle.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
