Why Chainlink Price Could Surge 20%? Bullish Breakout Spotted!
Chainlink ($LINK ) has been gaining a lot of attention recently. Currently, LINK’s long-short ratio is 1.031, and the OI-weighted funding rate is 0.0087%, with overall bullish sentiment.
LINK appears ready for a significant upside move after breaking out of a double bottom price action pattern. However, the relative strength index (RSI) shows that it is in a downtrend, a conflicting signal that raises both expectations and questions about its future performance.
If the daily close is above $13.10, LINK is expected to surge to $15 in the coming days. This key level will be the focus of market attention.
Judging from on-chain indicators, market sentiment is mixed. While the long-short ratio and funding rate indicate bullish sentiment, future open interest has remained unchanged over the past 24 hours, reflecting traders’ concerns about a potential price correction.
As of press time, LINK is trading at nearly $12.65, with prices surging more than 1.2% in 24 hours, but trading volume has dropped by 25%. This phenomenon also adds more uncertainty to the market.
In general, the future trend of Chainlink is full of variables. But the current market signals show that there is a possibility of a 20% surge. Investors should pay close attention to market dynamics and make investment decisions carefully.
