Chainlink（LINK）bull market is coming, target $50!

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After experiencing a 16% drop last week, Chainlink (LINK) rebounded by 7% in the past 24 hours, with the price rising to $24.84 and the market cap exceeding $15 billion. Renowned analyst World Of Charts stated that LINK might provide investors with discount opportunities again, if the support level is successfully tested, the price is expected to challenge $50.

In addition, Spot On Chain data shows that Chainlink recently unlocked 11.25 million LINK, worth over $258 million, most of which flowed into Binance. This has strengthened market expectations for continued growth of LINK.

Despite fluctuations in market sentiment, LINK's on-chain indicators remain positive. Withdrawal trading volume has increased significantly, indicating rising buying pressure, which may drive prices up further. The MVRV ratio has rebounded, showing potential for price increase. The rise in the long/short ratio also supports LINK's bull market rebound.

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