Momentum

April

Chainlink

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-gains-momentum-with-potential-for-significant-returns/" data-wpel-link="internal">Chainlink Gains Momentum with Potential for Significant Returns</a><br></p>
<p style="text-align: justify">As the market leader Oracle blockchain, <a href="https://coin-turk.com/link-yorum-unlu-analist-gamestop-olayi-sonrasinda-linkin-gidisatini-yorumladi" data-wpel-link="internal">Chainlink</a> (<a href="https://coin-turk.com/iki-farkli-analistten-benzer-chainlink-link-gorusu-link-hazirlik-icerisinde" data-wpel-link="internal">LINK</a>) appears to be garnering more interest as discussions about the tokenization of real-world assets (RWA) increase. An analyst’s on-chain analysis suggests that <a href="https://en.coin-turk.com/chainlink-link-coin-price-struggles-amid-market-uncertainty/" data-wpel-link="internal">LINK</a> could capture a 50% gain from its current prices in the coming weeks.</p> 
<h2 style="text-align: justify" id="analyst-s-commentary-on-chainlink">Analyst’s Commentary on Chainlink</h2> 
<p style="text-align: justify">Ali Martinez shared his <a href="https://en.coin-turk.com/chainlinks-old-coins-spur-market-speculation-amidst-whale-movements/" data-wpel-link="internal">Chainlink</a> analysis on April 17 on platform X. Martinez highlighted the historical view involving LINK’s price and the 30-day Market Value to Realized Value (MVRV) ratio.</p> 
<p style="text-align: justify">Ali Martinez stated:</p> 
<blockquote> 
 <p>Whenever the Chainlink MVRV 30-Day Ratio has dropped below -12.24% since August 2022, it has indicated a significant buying opportunity with an average return of 50%! Currently, the LINK MVRV 30-Day Ratio is at -17.54%. This could be another chance to buy at the bottom!</p> 
</blockquote> 
<p style="text-align: justify">Looking back, LINK has experienced value increases of 53%, 37%, 55%, 49%, 80%, and 49% following this model. If this pattern emerges again, Chainlink investors could achieve significant gains from current levels.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-341406" src="https://coin-turk.com/wp-content/uploads/2024/04/53-37-link-coin-turk-com.png" alt="" width="805" height="381"></p> 
<h2 style="text-align: justify" id="chainlink-link-price-analysis">Chainlink (LINK) Price Analysis</h2> 
<p style="text-align: justify">LINK has fallen below $13, testing a crucial short-term support level. This drop below the critical $13.27 level could signify a loss of significant support. Previously, this level had served as a strong support for Chainlink’s price in November 2023 and January 2024.</p> 
<p style="text-align: justify">During this period, the 50-day Exponential Moving Average (EMA) was a notable point and had reinforced the observed support level. As of today, LINK has lost the 50-EMA, currently at $17.45 per token.</p> 
<p style="text-align: justify">Additionally, the Relative Strength Index (RSI) also presents a different scenario, indicating a downturn under weak momentum. On the other hand, the current oversold 24-hour RSI could generally be considered a buying signal.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-341405" src="https://coin-turk.com/wp-content/uploads/2024/04/50-coin-turk-com.png" alt="" width="781" height="465"></p> 
<p style="text-align: justify">In conclusion, Ali Martinez may have highlighted a solid outlook for Chainlink, pointing to a potential 50% increase. Such a price rally could elevate LINK to around $20, potentially testing a critical resistance level above the 50-day EMA.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/chainlink-gains-momentum-with-potential-for-significant-returns/" data-wpel-link="internal">Chainlink Gains Momentum with Potential for Significant Returns</a></h5>

Chainlink Gains Momentum with Potential for Significant Returns

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