On-Chain Metrics Flash Bullish for Chainlink, Analyst Shares Next Target For LINK

According to Santiment, Chainlink (LINK) hit a 2-week high of around $15.80 over the weekend as on-chain indicators turned overwhelmingly positive. The percentage of circulating supply on exchanges has now dropped below 15% for the first time since 2018.

Additionally, the number of addresses holding a non-zero LINK balance stands just 6% away from its all-time high, signaling strong accumulation by long-term focused investors.

Source: Santiment – Start using it today

Trader Upside Down Crypto Data notes that despite recent range-bound action, nearly 80% of LINK holders currently sit in profit. This suggests minimal sell-side pressure exists around current prices. Traders appear content to hold through consolidation to target much higher prices.

Source: altFINS – Start using it today

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

According to altFINS, LINK remains in a long-term uptrend following its pullback. With bullish momentum signals re-emerging as LINK pushes back above the key $14.50 level after retesting support at $11.80:

  • Pattern: Pullback in a broader uptrend
  • Next Target: $17
  • Stop Loss: $13.60
  • Trend: Short, Long-term Uptrend
  • Momentum: Turning Bullish

With both fundamentals and technicals aligning constructively for LINK as it builds out its critical role as the leading decentralized blockchain oracle solution, the opportunity appears ripe for exposure over the medium to long term.

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency

CaptainAltcoin
Logo