Chainlink (LINK) at the peak of the last two years: Will the rise continue?
In the last seven days, the price of Chainlink ($LINK ) has increased by 36.55 percent, reaching its highest level since January 2022.
The increase in question came with the rise of Ethereum and the decline in the #Bitcoin dominance. However, this may be just the beginning. According to the analyzes, LINK's rise is not yet complete and it is predicted that it may reach higher values in the coming weeks.
LINK, which has attracted attention with its rise in recent days, is currently trading at $ 25. This important turning point seems to have been reached with the buying pressure from Chainlink whales.
According to Santiment data, individual investors are not yet part of this rally. This shows that LINK's value still has room for further increases. One of the indicators proving this is Weighted Sentiment. Weighted Sentiment measures the perception of the general market about a cryptocurrency.
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When the data is negative, it indicates that the average comments about the asset are bearish. When it is positive, it indicates that the vast majority of comments are bullish.
As of today, Chainlink's Weighted Sentiment is in the negative territory. This indicates that individual investors have not yet experienced "Fear of Missing Out" (FOMO). Historically, when the price is rising and the sentiment is bearish, the cryptocurrency has usually not reached its peak yet.
Holders' confidence is increasing
A remarkable trend has emerged in the analysis of Chainlink's Token Holding Time metric. Most LINK holders are refraining from selling their tokens. Usually, a decrease in the holding period indicates increased selling activity and more tokens are changing hands.
