LINK Rises to 50 USD?

What Must Altcoins Do to Reach This Price Target!

After a significant drop last week, Chainlink [LINK] has regained bullish momentum in the past 24 hours. However, this may not be due to a change in market conditions but rather the beginning of a larger bull market. Does this mean the token can now aim for 50 USD?

Chainlink Bulls Are Back

Chainlink’s price fell by 16% last week. However, bulls quickly stepped in and successfully pushed the token’s price up by over 7% in the past 24 hours. As of the time of writing, LINK is valued at 24.84 USD, with a market cap of over 15 billion USD.

Meanwhile, popular cryptocurrency analyst World Of Charts shared a tweet highlighting an interesting development. According to this, LINK may soon provide investors with another opportunity to buy the token at a discount, as it seems to be retesting support levels. If the test is successful, LINK may soon start rising to 50 USD.

That’s not all. Spot On Chain's latest tweet shows that Chainlink has unlocked another 11.25 million LINK, worth over 258 million USD. 10.625 million LINK (worth 243.5 million USD) went to Bina, and 625,000 LINK (worth 14.4 million USD) went to the multi-signature wallet “0xD50.”

Is LINK Ready to Rise to 50 USD?

AMBCrypto subsequently evaluated the on-chain metrics of the token to determine if it is beginning to rise to 50 USD.

Surprisingly, despite the bullish price trend of the altcoin, market sentiment surrounding the token has turned bearish. The decline in Chainlink's weighted sentiment proves this. Nevertheless, its social volume remained relatively stable last week, highlighting its popularity across the market.

Additionally, the MVRV ratio has improved after dropping to -2%. Whenever this metric reaches this level, it also suggests a price increase.

Finally, data from Coinglass indicates that Chainlink's long/short ratio has also risen significantly within 4 hours. The increase in this metric means that there are more long positions than short positions in the market, which may also help sustain the ongoing bull market rebound.

Summary: LINK, as a leading oracle, has great potential, coupled with the Trump family's large purchases, so the trend for 2025 looks very promising.