Chainlink 
$13 (LINK) has recently surpassed the $24 mark, reaching its highest level in the past seven months. Observations from on-chain and technical data, combined with heightened interest from stakeholders, suggest that LINK has potential for further growth. If the price maintains its current level, market expectations predict a medium-term increase potentially reaching up to $47.
Rising Interest and Fundamentals
Analysts attribute the recent surge in Chainlink’s price to the growing attention from the community and the rising trend of “Chainlink” as a search term. According to Google Trends, Chainlink searches have hit their peak since May 2021, highlighting the strengthening interest from investors in the project.
Experts point out that the foundation of Chainlink’s decentralized data infrastructure and its role as a bridge between blockchains and the real world positions the project strongly in the current market cycle. As a leading provider of reliable data, the project has secured assets worth over $93 billion. Data shared by Quinten Francois indicates that the Total Value Secured (TVS) has reached an all-time high.
On-Chain Activity and Whale Transactions
Recent statistics reveal that large investors, or “whales,” have ramped up their activities in LINK transactions, reaching a three-month high. Notably, the trading volume has garnered attention, with Santiment reporting 713 large transactions occurring daily over the past five days during the price surge.
Santiment: “Whale transaction volume and large transaction counts have peaked in recent times.”
There’s also been a noted 10% decline in LINK holdings on exchanges. Experts interpret this trend as investors opting to hold assets outside exchanges, reducing selling pressure and indicating an accumulation phase.
Technical Insights and Medium-Term Goals
Technical analysts emphasize that LINK has completed its fifth wave of growth and is approaching the critical $25 resistance level. Analysts suggest that surpassing this resistance could initiate a new upward phase towards $47 on the long-term charts.
According to trading scenarios, the $22-23 range serves as a support zone, while $25 is a crucial resistance. The overall trend remains upward, with the possibility of significant corrections remaining low as momentum continues.
Morecryptoonl: “If LINK breaches the $25 resistance, it may technically target $47.”
Assessing all indicators, the combination of technical strength, positive on-chain signals, and growing community interest suggests that downside risks are diminishing, and upward movements could persist. Experts believe that this momentum positions LINK favorably in the current market cycle.
