Chainlink (LINK) is experiencing a positive trend, attracting the attention of analysts and investors. This article examines current price levels and expert opinions.
Current LINK Price Levels
As of the time of writing, Chainlink is priced at $24.98, showing a 4.27% decline over the past 24 hours. Trading volume is reported at $2.27 billion, which is a 19% decrease from the previous day.
Analysts' Insights and Predictions
Some analysts believe that the $26.6 level will be critical for LINK. If the price breaks this point, it may reach $30.85. However, there is also a potential for a drop to $22, which could present buying opportunities. Analyst CryptoFeras notes:
> "$26.6 was hit to the cent. Strong pullback after it, then we go up again."
In terms of technical analysis, LINK has recently broken out of a bullish flag and is currently facing resistance at $27. The Relative Strength Index (RSI) stands at 65, indicating room for further growth.
New Address Growth and Liquidations Data
According to reports, Chainlink is adding nearly 3,000 new addresses daily, reflecting the fastest growth seen in the past five months. However, liquidation points are noted at $24.29 on the downside and $26.69 on the upside. Approximately $48 million in long positions and $13.18 million in short positions are situated at these levels. Additionally, over $18 million worth of LINK tokens were recently transferred to exchanges, which may suggest that some long-term holders are preparing to sell.
Analysts and traders are focused on whether LINK can break the $27 resistance level to continue its upward move towards the $30 target. However, the rise in new addresses and liquidation data paint a mixed picture for investors.
