Chainlink

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlinks-surge-highlighted-by-positive-on-chain-data" rel="noopener noreferrer nofollow">Chainlink’s Surge Highlighted by Positive On-Chain Data</a> 
Recent analysis by on-chain data provider Santiment revealed that <a href="https://en.bitcoinhaber.net/chainlinks-december-performance-and-expectations-for-2024" rel="noopener noreferrer nofollow">Chainlink</a> (LINK), the largest decentralized oracle network, reached its two-week high of $15.82 over the weekend. This surge was attributed to significant on-chain activity for the prominent altcoin.
Santiment reported that the supply of LINK on crypto exchanges dropped below 15%, the lowest in nearly four years. Additionally, the number of wallet addresses holding LINK reached an all-time high, indicating increased activity and shifting market dynamics for Chainlink.
Crypto analyst Ali Martinez highlighted a strong demand zone for LINK between $14.8 and $15.2, where approximately 17,650 wallet addresses have accumulated 85.12 million LINK. Martinez expects LINK to potentially rise towards the $20 mark, noting the absence of significant resistance levels in the short term.
Chainlink experienced a notable rise of 4% last month amidst ongoing market dynamics characterized by the interplay of bullish and bearish forces. Currently, LINK is trading above the $15 support level, fueling optimism among market observers for a continued price rally.
LINK’s current price position is critical, as breaking past the $17 mark could propel it towards the $20 threshold and potentially new highs. Conversely, a drop below the crucial support level of $13 could trigger a significant downtrend, especially if it touches the 100-day Simple Moving Average (SMA) at $13.19.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlinks-surge-highlighted-by-positive-on-chain-data" rel="noopener noreferrer nofollow">Chainlink’s Surge Highlighted by Positive On-Chain Data</a></h5>

Chainlink’s Surge Highlighted by Positive On-Chain Data

BH NEWS

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