Traders are optimistic about Chainlink's prospects, noting a 44% surge in the past week. Crypto trader Johnny highlighted a bullish trend after the price reached $24.60, marking the highest bullish sentiment since February. Currently, Chainlink is trading at $24.00, reflecting a 54% increase over the last month. A further rise to $25.50 could jeopardize around $61 million in short positions. Despite this rally, Chainlink remains 55% below its all-time high of $52.88 from May 2021, similar to other top cryptocurrencies like Stellar and Litecoin, which have not yet regained their peak values. Analysts suggest that many traders are waiting for these coins to reach their all-time highs before selling. However, some believe Chainlink could be a significant player in this cycle, benefiting from the institutional adoption of crypto and the growth of stablecoins. Recently, Chainlink partnered with Intercontinental Exchange to integrate foreign exchange and precious metals data on-chain, further enhancing its market position. Read more AI-generated news on: https://app.chaingpt.org/news