Chainlink about to breakout? Will $LINK surge to $50?
Chainlink (LINK) has been a hot topic lately. As the end of the year approaches, we see whales actively accumulating LINK.
Currently, LINK is approaching a tipping point in the market. On the weekly timeframe, LINK is trading in a falling wedge pattern, which has many traders anticipating a sharp rise.
In terms of price action, LINK has risen by about 0.5% over the past week, but has fallen by 5.6% over the past 24 hours. However, it is worth noting that there has been a surge in volume, with the market cap ratio reaching 4%, which indicates that the market has sufficient liquidity.
All eyes are on the key $15 level. If LINK can break out and hold above this resistance, it is likely to trigger a rally with a target of $50 next year.
In addition, large transactions and whale orders also provide clues to LINK's future direction. Large orders are concentrated in the $11 area, which may drive prices higher.
Chainlink's expansion into real-world assets and artificial intelligence sets the stage for a significant price increase. It is expected to become a core infrastructure and absorb a large amount of liquidity.
In general, the future trend of LINK is full of uncertainty, but also full of hope. We will continue to pay attention to its development to see if it can achieve a breakthrough and move towards the goal of $50.
