Chainlink (LINK) looks ready to challenge its all-time high (ATH) of $52, a level investors have eagerly awaited for over three years. Despite low trading activity, market intelligence platform Santiment suggests the token may be on the verge of making history.
With its technical indicators flashing bullish signals and strong partnerships in place, LINK is set to explode soon.
Could the golden cross on the charts be the key? Let’s explore the market trends, price action, and the factors driving LINK’s remarkable comeback.
At the time of writing, Chainlink is trading at $25.50, nearly 50% below its ATH. The daily chart shows limited support from moving averages (MA), with the closest, the 20-day MA, sitting lower at $19.32. However, a potential golden cross—where the 100-day MA moves above the 200-day MA—suggests bullish momentum is building, often a precursor to a significant rally.
The Relative Strength Index (RSI) is currently 74.24, indicating the asset is just below the overbought zone, leaving room for further growth. The Average Directional Index (ADX), which measures trend strength, is at a solid 52.83, confirming momentum is intact.
Additionally, the MACD histogram shows strong buildup, highlighting that bulls are maintaining control even as they face occasional slowdowns.
Santiment highlights that overall sentiment toward Chainlink remains subdued, reflected in trading volume. Over the past 24 hours, daily trading volume has dropped by 10.98%, yet LINK’s price has risen by 8.47%.
Chainlink’s collaborations with major financial institutions like SWIFT and Euroclear highlight its essential role in the blockchain space. These partnerships extend to banks and capital market players.
On December 3, Chainlink’s official account on X (formerly Twitter) shared a list of companies and institutions it is working with.
The projects range from developing blockchain-based applications to supporting the creation of tokenized assets, emphasizing Chainlink’s contribution to real-world asset (RWA) tokenization—a growing sector in the blockchain industry.
Unlike many cryptocurrencies prone to pump-and-dump cycles, Chainlink has consistently proven its utility and resilience. As a pioneer in the blockchain space, it stands to benefit from the rising adoption of blockchain technology and RWAs worldwide. This solid foundation makes LINK a strong contender for sustained growth in the long term.
Technical indicators suggest Chainlink is building strength, and the groundwork for a breakout is in place. While low trading volume reflects some hesitancy among traders, the overall momentum and institutional backing signal that a new ATH could be imminent.
Chainlink may finally end its three-year wait and rise past $52. With the fundamentals and market signals aligning, all that’s needed is the right catalyst!
Zora, the popular NFT platform built on Ethereum, is gearing up for a major launch.…
Circle has introduced a new payment platform aimed at simplifying cross-border transactions. The platform will…
The Bitcoin price is surging! The star token recovered above $88,000 and is working hard…
Upexi, a consumer goods firm listed on Nasdaq, saw its stock price skyrocket by 335%…
Paul Atkins has officially been sworn in as the new chair of the U.S. Securities…
Legacy financial institutions, from global banks to regulators have never been this pro-crypto until President…