🤔 Is Chainlink ($LINK ) Ready for a 40% Surge Toward Its $52 All-Time High?
Chainlink (LINK), the decentralized oracle network token, seems to show signs of moving towards reaching its all-time high record at $52. Recently, LINK price has gained over 26% in a week and nearly 85% in a month. Hence, analysts are now expecting the LINK token to attain a fresh all-time high in 2025, per the CNF report.
🔸 #Chainlink Price Technicals Indicate Bullish Momentum
Powered by technical indicators and an increase in institutional interest, LINK’s price stands at $24.93 and appears to be nearly 50% below its peak, an opportunity for a big push. Currently, despite the slight pullback today, the Chainlink price chart is showing increasing bullish momentum.
The token’s 20-day moving average (MA) is at $19.32, which may serve as a support level for lower price levels. Market observers are watching for the “golden cross,” a technical pattern in which the 100-day MA is about to cross over the 200-day MA, typically considered a strong bullish sign.
Meanwhile, LINK’s Relative Strength Index (RSI) stands at 74.24. This metric shows that the token is almost at the overbought level but has scope to move higher. Moreover, the Average Directional Index, at 52.83, depicts a strong trend in the price movement.
Furthermore, the Moving Average Convergence (MACD) Divergence histogram depicts a strengthening of positive momentum. It signifies sustained buying for Chainlink’s native token as investors look forward to an upward momentum, guaranteeing significant profits.
🔸 Market Trends Show Mixed Picture
This weekend, the LINK price managed to see a 9% price pump while the trading volume dipped by around 11%. The trend of high prices against low volume and decreased activity is often bullish and reflects steady accumulation with little speculative trading. More often than not, a pattern like this is believed to be a bullish phenomenon, highlighting the growing level of interest in LINK.