📈 Chainlink’s uptrend remains intact as it climbs toward the key $17.39 resistance. After reclaiming $15.90, $LINK formed higher lows—clear signs of bullish structure.
Spot market demand is strong. Taker Buy Volume Dominance favors bulls, showing buyers are outpacing sellers. That’s a solid setup for continuation—if momentum holds.
But risks are rising. The MVRV Ratio hit 37.87%, placing many holders in profit—prime zone for profit-taking. Meanwhile, NVT spikes hint at overvaluation relative to on-chain use.
Derivatives are heating up. Funding Rates flipped positive and Open Interest surged 8.47% to $843M—clear signs of rising long interest and market confidence.
However, elevated OI brings volatility risk. The Binance Heatmap shows liquidation clusters near $17. A breakout or rejection could trigger fast moves.
🧠Bottom line: Bulls have momentum, but $17.50 is the level to watch. Flip it to support, and LINK could rally higher. Fail here—and we may see another rejection.
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