- Market sentiment around Chainlink remained bearish despite a price hike in the last 24 hours.
- If market indicators are to be believed, LINK might first target $29.
After a red weekly chart, Chainlink [LINK] once again turned bullish as its daily chart turned green. Therefore, AMBCrypto dug deeper and assessed the token’s on-chain data to find where it can reach in 2025.
Chainlink bulls are back in action!
As per CoinMarketCap’s data, LINK’s price dropped by 1.2% in the last seven days. But LINK bulls stepped in the last 24 hours as the token’s value rose by more than 2.5%.
At the time of writing, Chainlink was trading at $21.73 with a market capitalization of over $13.8 billion.
Thanks to the latest price increase, over 478k LINK addresses were “in the money,” which accounted for nearly 68% of the total number of Chainlink addresses, as per IntoTheBlock.
However, the price hike in the last 24 hours didn’t have a positive impact on the token’s social metrics. Notably, LINK’s Weighted Sentiment declined sharply, which was a clear indication of rising bearish sentiment.
Additionally, Chainlink’s Social Volume also declined last week, reflecting a dip in the token’s popularity.
Source: Santiment
Will LINK touch $50?
While all this happened, World Of Charts, a popular crypto analyst, posted a tweet revealing that LINK was still
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Author: Dipayan Mitra
