The post LINK Price Surges 20% as Trump’s Influence Sparks Momentum appeared on BitcoinEthereumNews.com.

Chainlink (LINK) price is up more than 20% in the last 24 hours, reaching its highest levels in three years. The recent surge pushed LINK to approximately $28, breaking past key resistance levels and signaling renewed bullish momentum. However, while the price rally is significant, whale accumulation remains stable, and LINK’s RSI suggests the uptrend may face challenges. Whether LINK can sustain its momentum or test its strong support around $26.9 will likely shape its short-term trajectory. LINK Whales Stay Away Despite the Price Surge Despite the recent price surge, driven by Trump’s World Liberty Financial, the number of whales accumulating LINK has remained stable. Currently, 524 wallets hold between 100,000 and 1,000,000 LINK, a figure nearly unchanged from one week ago when it stood at 525. This stability follows a notable decline in whale activity, as their numbers have been consistently dropping since November 19, when 558 wallets held similar amounts of LINK. Addresses Holding Between 100,000 to 1,000,000 LINK. Source: Santiment Tracking whale activity is essential because these large holders can significantly influence market trends. Their consistent accumulation or distribution often precedes major price movements. The recent stabilization in whale numbers, following weeks of decline, could indicate a shift in market sentiment. While the drop suggests reduced confidence or profit-taking among whales, the current pause may hint at potential price consolidation or a possible reversal in the short term. Chainlink RSI Is Testing To Break the 70 Level Chainlink RSI is currently at 66, down from briefly exceeding 70. This marks a significant recovery from its December 9 level of 32, indicating strong upward momentum over the past week. However, the failure to sustain RSI above 70 highlights a potential resistance in its current uptrend, raising questions about the strength of the surge. LINK RSI. Source: TradingView RSI,…

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Filed under: News - @ December 12, 2024 7:25 pm