Chainlink: The Next 100x Gem Altcoin
• The LINK price has rebounded fairly after withstanding the bearish pressure to a large extent.
• Whale activity is soaring high, indicating the price will remain elevated in the coming days.
• Chainlink is called the oracle of the blockchains and could become one of 100x gems in the near future.
Price Rebound of LINK
The past weekend was more fruitful as Bitcoin’s price soared beyond $28,000, uplifting the entire crypto space. Although star crypto is undergoing a minor correction, there remains a strong bullish trend still prevailing. In tandem with this, traders have shifted their focus to one of the top altcoins – Chainlink (LINK). The LINK price has surged by more than 25% in the past week which suggests that it may become one of the top 100x gems in the near future.
As prices gain momentum, whales are beginning to accumulate LINK tokens at an accelerated rate; more than 2 million tokens worth over $18.5 million have been accumulated recently by 30 new addresses (which may refer to whales holding 1% of its circulating supply). This indicates a healthy whale accumulation and serves as a bullish indicator for upcoming trends.
Price Consolidation and Projection
The LINK price has been consolidating within pre-determined ranges for some time now and with current rebounds could soon surpass interim highs of $7.89. The RSI is rising steadily as buying volume accumulates heavily suggesting that it could surge beyond $9 soon enough.
In conclusion, Chainlink appears poised to reach greater heights given its consistent performance amid market volatility and increasing whale activity – making it a prime candidate for becoming one of the next 100x gems in cryptocurrencies.