#ProjectCrypto Why is the price of $LINK rising?💥💥💥
The 5.45% increase in the price of Chainlink (LINK) in 24 hours, reaching $16.40, reflects bullish technical patterns, accumulation by large investors ("whales"), and a general momentum in the altcoin sector.
1. Break above the key Fibonacci level ($15.09) and bullish chart patterns.
2. Buying by large investors (+13% in holdings since July) and a reduction in supply on exchanges.
3. Golden Cross in altcoins, indicating a positive risk rotation across the sector.
#MarketPullback The surge of LINK combines technical strength, strategic accumulation, and a favorable rotation in the sector (Altcoin Season Index increased by 66% monthly). Although the resistance zone between $17 and $20 presents a challenge, the movement in 24 hours shows conviction from key players.
What's next? Can LINK maintain momentum if Bitcoin's dominance (61.29%) rises again?.