Chainlink Price Prediction as LINK Surges 16.6% in Two Weeks – Can LINK Reach $100?
The Chainlink price has moved by 0.5% today, with its rise to $14.54 coming as the cryptocurrency market gains by 1% in 24 hours.
LINK has now risen by 6.5% in the past week and by more than 16% in the last three weeks, with the altcoin also rising by 31% in a month.
This makes it one of the best-performing major tokens of these periods, and with the Chainlink network continuing to expand and attract more usage, LINK is likely to witness further gains in the near and more distant future.
LINK’s chart reveals the altcoin in good momentum, potentially on the brink of another round of gains.
This impression comes mainly from its relative strength index (purple), which after having fallen to 50 at the start of the week is now rising again.
Such rising suggests an increase in buying pressure, as does LINK’s 30-day average (yellow), which also continues to rise further above its 200-day average (blue).
What’s particularly encouraging at the moment is that the coin’s 24-hour trading volume continues to record elevated levels, standing at over $600 million after falling as low as $150 million in late August and early September.
A whale withdrew another 79,999 $LINK($1.2M) from #Binance 2 hrs ago.
The whale has withdrawn 615,097 $LINK($7.16M) at $11.65 from #Binance since Oct 23, with a current profit of $1.9M. pic.twitter.com/lZmDsUfpUL
— Lookonchain (@lookonchain) November 13, 2023
A significant chunk of this volume is likely coming from whales accumulating LINK, as suggested by recent data on whale transfers.
There are two main reasons why (larger) traders are buying LINK right now: 1) the market remains in an expansionary phase after months of stagnation; and 2) LINK is one of the strongest altcoins in the market in terms of its
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