Chainlink Price Surges 35% and Breaks $24 Resistance Level
Bitcoin has surpassed the $102K mark, contributing to a bullish recovery in the crypto market. The Crypto Fear and Greed Index rose to 57, signaling increasing optimism. Consequently, the DeFi token market cap reached $160 billion.
- Chainlink gained nearly 18.71% over the past week, with a market cap of $15.43 billion.
- Chainlink's price surged by 35%, breaking the $24 resistance level.
- A bullish breakout occurred above the 23.60% Fibonacci level at $23.84.
- Potential price targets for Chainlink are $31.13 and $38.42, while critical support is at $21.35.
Whale activity has increased, with one whale accumulating 142,448 LINK tokens at an average price of $23.74, totaling $3.38 million.
- Large transaction volumes on the Chainlink network rose from $35.63 million to $185.57 million.
- The number of active addresses increased from 4.18k to 5.33k.
Derivatives data shows a 17.17% rise in open interest, reaching $1.09 billion, with a funding rate of 0.010%. The long-to-short ratio indicates a strong bullish sentiment among traders.