{"id":38225,"date":"2023-07-20T12:06:46","date_gmt":"2023-07-20T16:06:46","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/chainlink-price-prediction-as-link-surges-20-to-three-month-high-are-whales-accumulating\/"},"modified":"2023-07-20T12:06:48","modified_gmt":"2023-07-20T16:06:48","slug":"chainlink-price-prediction-as-link-surges-20-to-three-month-high-are-whales-accumulating","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=38225","title":{"rendered":"Chainlink Price Prediction as LINK Surges 20% to Three-Month High \u2013 Are Whales Accumulating?"},"content":{"rendered":"
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The altcoin rally is heating up, with blockchaincenter.com\u2019s Altcoin Season Index hitting a new four-month high at 31, and Chainlink (LINK) is leading the charge on Thursday.<\/p>\n

LINK surged 20% on Thursday to hit fresh three-month highs to the north of the $8 per token level, at one point even coming close to hitting $8.50.<\/p>\n

That means LINK is now trading convincingly to the north of all of its major moving averages.<\/p>\n

It also means that LINK has now rallied a stunning 65% from its June sub-$5.0 lows.<\/p>\n

LINK is the cryptocurrency that powers Chainlink\u2019s decentralized oracle network that enables smart contracts on various blockchain platforms to connect and interact with real-world data and external APIs.<\/p>\n

While increased risk appetite towards altcoins in wake of a US judge\u2019s favorable ruling towards XRP last week is probably the main driver of the LINK rally, positive ecosystem developments that enhance LINK\u2019s utility are also playing a role in the upside.<\/p>\n

On Monday, Chainlink\u2019s much anticipated Cross-Chain Interoperability Protocol (CCIP) went live and observers are bullish that it will herald a new era of interoperability in the still highly fragmented web3 world.<\/p>\n

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Are Whales Accumulating?<\/strong><\/h2>\n

The increasingly bullish altcoin market outlook plus positive Chainlink ecosystem developments appear to have encouraged whales to double down on their bullish LINK bets.<\/p>\n

At least, that\u2019s according to information presented by popular Twitter account @lookonchain.<\/p>\n

As per the on-chain sleuth, five whales have significantly bid up the $LINK price on Thursday in a series of transactions that the Twitter account details here<\/a>, here<\/a> and here<\/a>.<\/p>\n

Whales are often considered as \u201csmart money\u201d, and so their increased interest in Chainlink may be a sign that retail is about to pile in, further pumping the price.<\/p>\n

Price Prediction \u2013 Where Next for Chainlink (LINK)<\/strong><\/h2>\n

Despite the recent pump, LINK still remains stuck within its 14-month range.<\/p>\n

For things to turn really bullish for LINK, the cryptocurrency will need to break to the north of resistance in the form of a 2022 tripple top in the $9.50 area.<\/p>\n

That would open the door to swift gains towards the next major resistance around at $11.50 and possibly on towards $18.50.<\/p>\n

But as the altcoin outlook perks up, the chances of a bullish breakout are growing.<\/p>\n

LINK bulls should gear up for potential 2x gains in the coming months.<\/p>\n

Chainlink (LINK) Alternatives to Consider<\/strong><\/h2>\n

Investors should always be on the lookout to diversify their crypto holdings.<\/p>\n

One high-risk-high-reward investment strategy that some investors might want to consider is getting involved in crypto presales.<\/p>\n

This is where investors buy the tokens of up-start crypto projects to help fund their development.<\/p>\n

These tokens are nearly always sold very cheap and there is a long history of presales delivering huge exponential gains to early investors.<\/p>\n

Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application\/platform.<\/p>\n

If an investor can identify such projects, the risk\/reward of their presale investment is very good.<\/p>\n

The team at Cryptonews spends a lot of time combing through presale projects to help investors out.<\/p>\n

Here is a list of 15 of what the project deems as the best crypto presales of 2023.<\/p>\n

See the 15 Cryptocurrencies<\/strong><\/p>\n

Disclaimer: This section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.<\/sup><\/i><\/p>\n<\/p><\/div>\n