- Chainlink experienced a 5.6% 24-hour rally, reaching $12.86, following Rekt Capital’s bullish analysis.
- The number of Chainlink wallets with at least 1,000 LINK tokens hits an all-time high, indicating growing interest.
- Investors are optimistic as technical analysis shows Chainlink’s ascent above moving averages.
The crypto market was abuzz as Chainlink (LINK) experienced a significant 5.6% surge in just 24 hours, catapulting its price to $12.86. This sudden spike in value followed a bullish analysis shared by the pseudonymous analyst Rekt Capital, whose insights have become highly regarded within the crypto community.
Rekt Capital’s assessment struck a chord with investors, signaling a potential shift in Chainlink’s fortunes. One of the key indicators supporting this optimistic outlook is the remarkable surge in the number of Chainlink wallets holding a minimum of 1,000 LINK tokens. The data revealed an all-time high of 27,152 such wallets, indicating a growing interest in the cryptocurrency.
A closer look at the technical analysis chart further bolstered investor confidence. Chainlink‘s price trajectory soared above both the 50-day and 200-day moving averages, a promising sign for those backing the cryptocurrency. This upward movement was not merely a blip; it represented a sustained trend, accentuated by the fanning out of the moving averages, emphasizing the strength of the current uptrend.
Rekt Capital’s bullish analysis has struck a chord with the cryptocurrency community, fostering a positive sentiment among investors. Many are now anticipating a promising future for Chainlink, buoyed by the recent surge and the supportive technical indicators. This optimism is further bolstered by the broader implications for the altcoin market, with experts closely monitoring the market dynamics in the wake of Chainlink’s success.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
