#link
Chainlink soared 8%, the $20 mark is just around the corner, and market sentiment is boiling!
Chainlink (LINK) prices have been on full fire recently, soaring 8% in one day. This strong rise is eye-catching. Investors have speculated that LINK is going to soar to the sky, and the short-term target is directly aimed at the $20 mark!
LINK prices soared, and market sentiment is high
LINK's price performance is so fierce, it directly jumped to the $12 mark and stood firmly. This is not just a number game, behind it is the market's full confidence and expectations for Chainlink. You see, the MACD indicator is green, the blue line whizzes through the orange line, and the green columns in the histogram are getting higher and higher. These are all signals of rising prices!
Trading volume has skyrocketed, and market activity has soared
The trading volume has risen like a rocket, soaring by more than 31% in one day, nearly $400 million. Open interest is also rising rapidly, almost $200 million. What does this surge in trading volume and open interest mean? The market is lively, everyone is busy buying and selling LINK, and the liquidity is great!
Breakthrough is imminent, $20 is not a dream?
Now there is a hurdle in front of LINK, which is the resistance level of $15. However, looking at this rising trend, it is not impossible to break through it. Once this hurdle is passed, LINK will really take off, and the next target may be $17 or even $20. Of course, this depends on whether the market sentiment can continue to be so hot.
MVRV ratio: holders have medium profits
Look at the MVRV ratio again, it is now 1.075%, which means that most of the friends who hold LINK have made a little money, but not yet to the point of making a fortune. This may also be a good thing, indicating that the market is not overheated and there is still room for growth.
In general, Chainlink's rise is really eye-catching, but the future depends on whether the market sentiment can continue to be so strong. Let's wait and see!
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