LINK Price Hits New Yearly High
The LINK price has been a major highlight in the cryptocurrency market this year, reaching a new yearly high of $15.8 on November 9. A crypto analyst who predicted this bullish run has offered more insight into what to expect from the Chainlink token.
What’s Next For LINK Price?
A crypto analyst with the pseudonym Mags shared an interesting update on LINK price action, predicting the likely movement of Chainlink’s price over the coming days. Mags highlighted that the price of LINK had broken out of a 512-day consolidation wedge and forecasted a straight rally to $12.54, a level the altcoin had surpassed earlier in the week.
As of now, Mags believes that the LINK price will continue its upward run without any re-test and postulated a potential increase to $18 before any pullback. Currently, the LINK token is valued at $15.06, reflecting more than a 3.6% increase in the past 24 hours and more than a 33% increase over the past seven days according to CoinGecko.
Chainlink’s Whale Activity Hits Six-Month High
A recent on-chain data report by blockchain analytics firm Santiment revealed that whale activity on the Chainlink network had hit its highest level in six months. This trend is also seen in other blockchains like Bitcoin, Ethereum, and Cardano. The analytics firm’s revelation somewhat strengthens the case of a continuous upward movement for the LINK price.
Hot Take: The Future Of Chainlink’s Price
The future looks bright for Chainlink’s price as it continues its upward momentum without any significant re-tests expected. With positive analyst predictions and increased whale activity, it seems likely that LINK’s price will continue to rise in the coming days.