Traders say on-chain data and an intriguing chart setup support the view that LINK is “vastly underpriced.”
Currently priced at $17.04, LINK has seen an impressive 30% increase so far in May, prompting investors to wonder whether the drivers for a rally above $20 still exist.by market intelligence firm Santiment, on-chain metrics are painting a bullish picture for LINK, with the price notably outperforming other cryptocurrencies, reaching a six-week high of $17.50 on May 24.
“Chainlink, Status and Ethereum are the top developed ERC-20s in crypto are traders anticipate new ETF.”Increasing network activity illustrates that more people are using the Chainlink blockchain, which implies a higher demand and value for LINK.shows that the LINK price bounced off a horizontal support line of a descending triangle at $13 on May 15, rising 36% to set a six-week high at $17.50 on May 24.
In addition, the relative strength index has risen from 36 to 65 over the same period. This suggests that the buyers have taken control of the price, reinforcing the strength of the uptrend.Moreover, the In/Out of the Money Around Price model from IntoTheBlock revealed that LINK enjoyed relatively strong support on the downside compared to the resistance it faced on the upside.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LINK Price Jumps 20% Amid Chainlink's US Bank Pilot ProgramSmart NAV by DTCC and Chainlink aims to bring trusted data to blockchain networks
Read more »
LINK price jumps 10% as Chainlink races toward tokenization of fundsChainlink (LINK) price has remained range-bound for a while, stuck between the $16.00 roadblock to the upside and $13.08 to the downside.
Read more »
Here’s Why Chainlink (LINK) Surged by Double Digits to Monthly HighsCrypto Blog
Read more »
Over $53 Million in Chainlink (LINK) Shifts Hands: DetailsWhale Alert reported this massive Chainlink (LINK) transfer
Read more »
$20 Billion: The Delta Tunnel’s New Price TagThe centerpiece of California’s water wars pits Gov. Newsom against local communities and environmentalists. A new report says the benefits of the tunnel exceed the cost since other water supplies would cost more.
Read more »
$20 billion: The Delta tunnel’s new price tagThe centerpiece of California’s water wars pits Gov. Newsom against local communities and environmentalists. A new report says the benefits exceed the cost since other supplies would cost more.
Read more »