• Social sentiment around Chainlink was positive this week.
  • Buying pressure and whale confidence in LINK were high.

After a short dip in value, Chainlink [LINK] bulls again entered the market and started to push its price up. The recent uptrend once again gave investors hope of LINK reaching new highs.

Here’s a closer look at Chainlink’s ecosystem to better understand what to expect from the token.

Chainlink bulls are buckling up

LINK has been surprising investors for quite a while by registering gains like no others. To be precise, in just the past 30 days, LINK’s value surged by more than 70%.

The gaining spree appeared to have come to an end on the 7th of November 2023, when its chart turned red.

However, Chainlink bulls were quick to reenter the market and once again initiate a rally. According to CoinMarketCap, LINK was up by over 2.4% in the last 24 hours.

Source: CoinMarketCap

At the time of writing, it was trading at $13.44 with a market capitalization of over $7.4 billion, making it the 12th largest crypto.

The token’s trading volume increased along with its price. This further gave hope to investors for better days. In fact, Crypto Tony, a popular crypto analyst, revealed in a tweet that he expects LINK’s price to hit the $13.50 target in the coming days.

AMB-Crypto

AMB-Crypto

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