Shift

bullish

Strong

Momentum

Chainlink

<ul class="wp-block-list">
  
 <li>LINK price surges 14% amid significant exchange outflows.</li>   
 <li>Bullish indicators and developer activity suggest sustained momentum.</li>   
 <li>Rising speculative interest signals potential long-term uptrend for Chainlink.</li> 
</ul>   
<p><a href="https://cryptonewsland.com/chart-patterns-and-on-chain-metrics-signal-a-rally/">Chainlink (LINK)</a> has shown a promising recovery, with a sharp 14% rise pushing the price above $12.30. This surge aligns with major outflows from exchanges, hinting at significant accumulation by optimistic investors. Such withdrawals often mean traders expect higher prices, as tokens moving off exchanges usually signal a drop in selling pressure. So, could this shift hint at a lasting uptrend for Chainlink? </p>   
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   https://twitter.com/ZAYKCharts/status/1854369795912970632 
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<h2 class="wp-block-heading" id="h-strong-momentum-on-the-charts">Strong Momentum on the Charts</h2>   
<p>Over the past month, <a href="https://coinmarketcap.com/currencies/chainlink/">LINK</a> has seen steady negative netflows on exchanges. Notably, on November 4, around 400,000 tokens exited exchanges, marking the highest outflow in 30 days. This trend generally indicates less selling pressure, as traders hold onto their assets, aiming for potential gains. </p>   
<p>On the four-hour chart, several indicators reveal increased buyer interest. The Relative Strength Index (RSI) now stands at 71, pointing to strong buying momentum. Additionally, the Chaikin Money Flow (CMF)—a metric that measures buying and selling pressure—has turned positive, now sitting at 0.17. </p>   
<p>This number suggests that sustained buying activity supports LINK’s rise. Should this momentum persist, Chainlink could aim for the 1.618 Fibonacci extension level near $13.13.The chart also shows a distinct V-shaped recovery pattern, reflecting a robust bounce from recent lows. This pattern, along with rising market confidence, supports a <a href="https://cryptonewsland.com/100-link-price-surge-expected-amid/">continued uptrend for LINK</a>.</p>   
<h2 class="wp-block-heading" id="h-rising-blockchain-and-market-activity">Rising Blockchain and Market Activity</h2>   
<p>Chainlink’s blockchain activity has surged, especially in developer engagement. Over the past month, developer activity on Chainlink jumped over 14,000%, making the network a prominent <a href="https://algorand.co/learn/what-are-real-world-assets-rwas">Real World Asset</a> project. Alongside this, daily users increased from 1,930 to 2,750 in the last four days.</p>   
<p>In the derivatives market, speculative interest in LINK has grown as well. Open interest in LINK contracts recently rose to $206.93 million, reflecting strong optimism among traders. The funding rate, now at 0.0147%, also points to a bullish outlook, as more traders place bets on long positions. </p>   
<p>For now, multiple factors support Chainlink’s recent rally, from reduced selling pressure and strong technical indicators to heightened developer activity and trader optimism. With momentum on LINK’s side, this surge could mark the start of a longer-lasting shift.</p>    
<p>The post <a href="https://cryptonewsland.com/chainlink-experiences-outflows-surge/">Is Chainlink Primed for a Shift as Outflows Surge?</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Is Chainlink Primed for a Shift as Outflows Surge?

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