$LINK price eyes a 20% surge as multiple bullish patterns emerge
The LINK price looks set for a potential 20% breakout as momentum builds from both technical patterns and growing adoption across the ecosystem.
Chainlink was up roughly 6% trading at $17.27 on May 14 afternoon Asian time, extending its rally, which began May 6, as macro conditions eased. It is now up nearly 70% from its lowest level this year, giving the token a market valuation of nearly $11.39 billion.
Open interest in LINK has also climbed sharply, reaching $768.65 million, its highest level since March 11, when it stood at $400 million, according to CoinGlass. Rising open interest typically signals increasing trader participation and heightened speculative activity, often seen ahead of major price moves.
Data also shows that the altcoin’s weighted funding rate has remained positive for the past 7 days.
