The post Strong Chainlink price pump: LINK above $10 appeared on BitcoinEthereumNews.com.

It was a hot weekend for Chainlink Marines, supporters of the famous crypto project, who celebrated a strong increase in the price of the LINK coin, which rose by more than 30% between Saturday and Sunday. There seems to be no particular news on the horizon to justify the rally, which could be the result of heavy speculation or hoarding by holders who believe in the technological growth of the oracle. At the time of writing, LINK is trading at $10.15, a level not seen since May 2022. After the crypto’s long bear market, are we facing a reversal phase for Chainlink, or will the pump be turned on in the coming days? See all the details below. Chainlink (LINK) price soars in the crypto market with +37% last week: broken sideways structure unchanged for 500 days  The Chainlink Marines, defenders of the crypto market’s greatest oracle, are celebrating after their LINK coin crossed the fateful $10 mark with a +34% surge over the weekend. This is an unusual pump because it was not supported by any particular news and was not accompanied by any particularly noticeable growth for Bitcoin and Ethereum. The most interesting thing to note is that with the last candle week that just ended, LINK finally broke a 530 day long sideways trend and reached a level that had not been touched since May 2022. Trading volume over the last two trading days has reached $300 million on Binance for the LINK-USDT pair alone. Looking at the total value of trades on all exchanges, Coinmarketcap data shows a figure of $1.3 billion in the last 24 hours. LINK, a utility token in the Chainlink ecosystem used to access oracle services and obtain accurate data within a blockchain, is still far from its all-time high of $52.4…

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Filed under: News - @ October 23, 2023 8:10 pm