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

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After experiencing a 16% drop last week, Chainlink (LINK) has rebounded by 7% in the past 24 hours, with the price rising to $24.84 and a market cap exceeding $15 billion. Renowned analyst World Of Charts indicates that LINK may offer investors another discount opportunity; 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, valued at over $258 million, most of which flowed into Binance. This has strengthened the market's expectations for LINK's continued rise.

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

Tap the avatar to live and catch the bull market!