Chainlink is about to break through? Will $LINK soar to 50 dollars?
Recently, Chainlink (LINK) has been under the spotlight. With the end of the year approaching, we see whales actively accumulating LINK.
Currently, LINK is nearing a critical point in the market. In the weekly timeframe, LINK is trading in a descending wedge pattern, leading many traders to anticipate a significant surge.
In terms of price action, LINK has risen about 0.5% over the past week; however, it has fallen by 5.6% in the last 24 hours. Notably, trading volume has surged, reaching a market cap ratio of 4%, indicating sufficient liquidity in the market.
All eyes are on the key level of 15 dollars. If LINK can break through and hold above this resistance level, it is likely to trigger a rebound with a target of 50 dollars next year.
Additionally, large trades and whale orders provide clues for LINK's future direction. Large orders are concentrated in the 11-dollar range, which could drive the price up.
Chainlink's expansion into real-world assets and artificial intelligence lays the groundwork for significant price increases. It is poised to become core infrastructure and absorb a large amount of liquidity.
Overall, LINK's future trajectory is filled with uncertainty but also hope. We will continue to monitor its development to see if it can achieve a breakthrough and aim for the target of 50 dollars.