Chainlink (LINK), which drew market attention with a 44% surge last week, is reportedly preparing for another strong rally. Famous cryptocurrency trader 'Johnny' posted on X (formerly Twitter), "LINK seems to be starting its second round," evaluating that the upward trend is not over yet. The price he focused on is $24.60, which serves as a strong support line and profit-taking resistance line.
On-chain analysis platform Sentiment analyzed that the market sentiment towards Chainlink is closest to bullish in the past 6 months. Sentiment explained, "This level of optimistic market atmosphere is the first since February 1st." According to CoinMarketCap, Chainlink has accumulated a 54% increase over the past 30 days and was trading at $24.0 at the time of writing.
Johnny mentioned that "at this point, the most distinct large coin upward trend is LINK," and the psychology of entering this section is spreading throughout the market. The analysis suggests that there is sufficient room for further increase as there are no signs of trading volume overheating compared to the price increase.
Chainlink is a leader in the decentralized oracle field, with a characteristic of repeating separate rallies based on technical demand regardless of macroeconomic conditions. Particularly recently, its utilization in DeFi and real-world asset-linked products has increased, meeting strong conditions in technology, supply, and sentiment.
The market's attention is focused on how far Chainlink's consecutive price surges can continue.
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