LINK Price Surges 20% as Trump’s Influence Sparks Momentum
chain link (LINK) Prices have risen more than 20% in the past 24 hours, reaching their highest level in three years. The latest surge pushed LINK to around $28, breaking a key resistance level and signaling renewed bullish momentum.
However, despite the sharp price increase, whale accumulation remains stable, LINK’s relative strength index Indicates that the uptrend may face challenges. Whether LINK can maintain its momentum or test strong support near $26.9 may affect its short-term trajectory.
Despite price surge, whales stay away
Despite the recent surge in prices, the Trump’s world of free financethe number of whales accumulating LINK remains stable. Currently, 524 wallets hold between 100,000 and 1,000,000 LINK, a number that is virtually unchanged from 525 a week ago.
This stabilization comes after a significant decline in whale activity, as whale numbers have been declining since November 19, when 558 wallets held a similar number of whales. association.
Tracking whale activity is crucial as these large holders can significantly influence market trends. Their ongoing accumulation or distribution often precedes significant price movements. Whale numbers have recently stabilized after weeks of declines, which could indicate a change in market sentiment.
While the decline suggests a decline in whale confidence or profit-taking, the current pause could hint at potential price consolidation or a possible reversal in the near term.
Chainlink RSI Testing to break through level 70
chain link The RSI is currently at 66, below levels that briefly exceeded 70. This marks a significant recovery from the 32 level on December 9, indicating strong upward momentum over the past week.
However, the RSI’s failure to sustain above 70 highlights potential resistance in the current uptrend, raising questions about the strength of the move.
RSI (Relative Strength Index) measures the speed and magnitude of price changes to assess overbought or oversold conditions. Values above 70 generally indicate overbought levels, indicating that the asset may be facing selling pressure, while values below 30 indicate oversold conditions and are generally associated with potential buying opportunities.
for chain link70 appears to be a key barrier; if the RSI can stay above this level for a few consecutive days, the price may continue to climb higher. However, its recent failure to sustain above 70 suggests that the current uptrend may be losing momentum, potentially leading to a short-term price consolidation or pullback.
LINK Price Prediction: Can $35 Be Hit Next?
link price It recently surged to around $28, marking its highest price since January 2022. If the current uptrend reverses, the first strong support level is located around $26.9.
If this does not hold, link price A further drop to $22.4 or even $19 is possible, a level that would see a sharp retracement of recent gains. These support levels will be critical in preventing further corrections as the market tests the strength of the current rally.
On the other hand, if the uptrend continues, link price It is now less than 8% away from regaining the $30 mark, a price it has not reached since November 2021.
A break above the $28 and $29 resistance levels could pave the way for further gains, with $35 being a potential next target.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
