The Rise of Chainlink: Can LINK Enter the Top 10 List Soon?
Chainlink has been making waves in the cryptocurrency market, and investors are wondering if it will soon enter the top 10 list of cryptos by market capitalization. Let’s take a closer look at the recent developments and analyze the possibility of a LINK rally.
Chainlink is popular among whales
A recent spike in whale transactions for Chainlink has caught the attention of crypto analysts. This surge in activity indicates growing interest and investment in LINK, which could potentially drive up its price in the near future.
The possibility of a LINK rally is…
Currently, LINK’s price is trading at $14.52 with a market capitalization exceeding $8 billion, placing it as the 12th largest crypto. Before LINK can kick-start another rally, it must surpass a key resistance level.
Looking at the metrics
Hyblock Capital’s data shows an increased liquidation of LINK when its price reaches $15.4, indicating that it must break through this resistance in order to gain a higher market cap. However, other bullish metrics, such as low exchange reserves and high buying pressure, suggest the potential for an uptrend in LINK’s price.
The road ahead for Chainlink
While the recent surge in whale transactions and bullish metrics shows promise for a LINK rally, there are still challenges ahead. The trend reversal possibility, supply dynamics, and open interest trends all indicate potential hurdles that LINK must overcome to solidify its position in the top 10 cryptos.
Chainlink’s recent surge in popularity among whales, coupled with bullish metrics, hints at the potential for a LINK rally in the near future. However, it still faces key obstacles that it needs to overcome to solidify its spot in the top 10 cryptos.
So, will Chainlink be able to enter the top 10 list soon? Only time will tell, but the recent developments suggest that investors should keep a close eye on LINK in the coming days.
### News source: eng.ambcrypto.com