Chainlink (LINK) Price Hits New Highs With 22% Surge In A Single Day

Name	Symbol	Market	Market Cap ($)	Algorithm
ChainLink Token	LINKUSD	Crypto	8,019,785,608	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

ChainLink Token

LINKUSD

Crypto

8,019,785,608

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.600	-4.22%	13.63	13.62	13.63

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.600

-4.22%

13.63

13.62

13.63

High Price	Low Price	Open Price	Prev. Close	52 Week Range
14.37	13.51	14.22	14.23	4.74 - 22.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

14.37

13.51

14.22

14.23

4.74 - 22.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:24:10	0.100000	13.63	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

20:24:10

0.100000

13.63

USD

Price x Volume	Volume	Base Symbol	Related Pairs
10,844,446.48	777,357.91	LINK	LINKEUR	LINKGBP	LINKBTC

Price x Volume

Volume

Base Symbol

Related Pairs

10,844,446.48

777,357.91

Chainlink (LINK) Price Hits New Highs With 22% Surge In A Single Day

22/10/2023 11:38am

NEWSBTC

Following a week dominated by Bitcoin and its positive performance, Chainlink (LINK) has emerged as one of the best performers in the crypto market this weekend. This comes after a long period of relative silence and sideways movement for the token’s price. The abrupt and significant surge in Chainlink price may have surprised many investors, but it only further highlights the volatile nature of the crypto market. Chainlink Price Soars 22% In One Day – What’s Next? According to data from CoinGecko, the price of Chainlink is up by more than 22% in the last 24 hours. Over the past day, LINK’s double-digit price explosion has seen the altcoin surpass the $9 mark, resulting in a multi-month high. LINK’s performance appears to be even more notable on the weekly chart, with a nearly 30% increase in the last seven days. Although Chainlink maintains a substantial percentage of its gain, the token’s price seems to be facing significant resistance at the $9.5 zone. This reflects the uncertain sentiment of investors who seem unsure whether the current rally is a fluke or a bullish hint. Nevertheless, a crypto analyst expects LINK to build on this positive momentum. Related Reading: Ethereum ICO Participant Wakes Up After 8 Years, Moves $3 Million In ETH In a post on X (formerly Twitter), crypto trader Mags noted that the Chainlink price has just broken out of a consolidation wedge spanning more than a year. The analyst postulates that a close above $8.2 on the weekly timeframe will see the LINK price rise to $12.54. This represents a significant 30% projection from the current price point. As of this writing, the Chainlink token is valued at $9.36. According to CoinGecko data, LINK is enjoying a 468% surge in its trading volume over the past 24 hours. What Is Behind The Multi-Month High? A dive into the Chainlink network activity can help understand the driving force behind the latest resurgence in LINK’s price. Interestingly, a recent report from the on-chain analytics platform Santiment offers insight into the activity levels of the network. Santiment’s data report posted on X highlighted that Chainlink has been experiencing increased activity over the past few days. Specifically, the network witnessed significant growth – reaching three-month highs – in terms of whale transactions, active addresses, and trading volume this weekend. Chainlink network activity surges to three-month highs | Source: Santiment on X Related Reading: XRP Price Set To Surge Amid Heightened Whale Accumulation As the highlighted chart shows, LINK saw more than 220 whale transactions above the $100,000 mark on Saturday, October 22, while nearly 5,000 unique addresses interacted with the altcoin on the same day. Furthermore, Chainlink recorded more than 800 million in LINK trading volume on Saturday. While these data points don’t exactly indicate whether buying transactions are the prevailing activity on Chainlink, the ensuing LINK price rally suggests a possible accumulation trend. Chainlink price on an upward trajectory on the daily timeframe | Source: LINKUSDT chart on TradingView Featured image from Shutterstock, chart from TradingView

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LINKUSD ChainLink Token