Value

Parabolic

Chainlink

Daily

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlinks-price-surges-by-22-in-the-last-30-days/" data-wpel-link="internal">Chainlink’s Price Surges by 22% in the Last 30 Days</a> 
In the last 30 days, the price of <a href="https://en.coin-turk.com/chainlinks-price-influenced-by-exchange-position-changes-and-recovery-signs/" data-wpel-link="internal">Chainlink</a> (LINK) has increased by 22%, delighting its <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>. This value increase, based on existing market interest, has made LINK one of the top-gaining altcoins among the top 20 cryptocurrencies during this period. Despite this recent performance, investors have one question in mind: Will the rise continue? 
<h2 style="text-align: justify" id="chainlink-link-analysis">Chainlink (LINK) Analysis</h2> 
According to <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> provided by IntoTheBlock, the Coin Holding Period for LINK has increased by 677% over the past month. This metric reveals whether investors are currently inclined to sell or hold their assets. 
A decrease in the holding period suggests that investors are selling, which could lead to a price drop. Conversely, an increase in this metric indicates that investors are not selling and are confidently holding their tokens, aiming for a price rise. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383257" src="https://coin-turk.com/wp-content/uploads/2024/08/cl-chainlink-1-coin-turk-com.png" alt="" width="466" height="274"> 
Additionally, the bullish outlook could reduce the current supply of LINK in trading, potentially contributing to an upward price movement. Another critical factor highlighting LINK’s rise in the past month is the Market Value to Realized Value (MVRV) ratio. 
The MVRV ratio provides investors with unrealized profit or loss levels and indicates market peaks and troughs. An increase in this ratio also reflects a high level of unrealized profit, suggesting that the likelihood of investors making a profit is increasing. However, an excessively high value could raise concerns about a price correction. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383258" src="https://coin-turk.com/wp-content/uploads/2024/08/cl-chainlink-2-coin-turk-com.png" alt="" width="507" height="176"> 
On the contrary, a decrease in the MVRV ratio indicates low unrealized gains, reflecting a lower value. As seen in the above graph, Chainlink’s 30-day MVRV ratio was approximately 13.56%. 
Historically, when the metric is at this level, it tends to rise up to 20%. If past data and current trends align, LINK’s price could surpass the $12 level. 
<h2 style="text-align: justify" id="link-price-prediction">LINK Price Prediction</h2> 
Daily chart analyses of LINK suggest that the ongoing upward trend might not be as strong as it seems, according to the Parabolic Stop and Reverse (SAR). Looking at the graph below, the series of points above or below the price indicates the potential direction of the cryptocurrency. 
Generally, when the points remain above the price, a sell-off is likely. However, at the time of writing, the Parabolic SAR was below the $12.55 value for LINK. If this scenario continues, LINK’s price could maintain its upward trend. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383259" src="https://coin-turk.com/wp-content/uploads/2024/08/chainlink-cl-3coin-turk-com.png" alt="" width="490" height="259"> 
The recent price movement in the market shows that bulls are preventing LINK bears from pushing the price down. As seen in the above graph, Chainlink’s price could move towards $13.65. 
A price movement above this level could push the cryptocurrency towards $14.96. On the other hand, if bears gain control and trigger a downward momentum, the token price could drop to $10.48. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlinks-price-surges-by-22-in-the-last-30-days/" data-wpel-link="internal">Chainlink’s Price Surges by 22% in the Last 30 Days</a></h5>
The post <a href="https://en.coin-turk.com/chainlinks-price-surges-by-22-in-the-last-30-days/" data-wpel-link="internal">Chainlink’s Price Surges by 22% in the Last 30 Days</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Chainlink’s Price Surges by 22% in the Last 30 Days

Table of Contents

COINTURK NEWS

Other articles published on Aug 26, 2024

FET Outperforms Major Cryptos With a 70% Weekly Gain

BNB Chain’s Launches 4YA Ecosystem Celebration: $300K+ Reward Pool and Exclusive NFTs

Telegram Founder Pavel Durov's Arrest: The Story So Far

Most Important Day for Shiba Inu (SHIB) Holders Has Arrived

Argentina Roots Out Russian Crypto Laundering Network, Stops Crypto Laundering Attempt to North K...

Crypto fund inflows reach $533M, Bitcoin outperforms Ethereum: CoinShares

Join our free newsletter for daily crypto updates!