This Why Chainlink (LINK) Could Keep Rising in the Following Months: Analysts Chip in

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• While the broader cryptocurrency market corrected, Chainlink (LINK) rose to nearly $19, recording a daily increase of 6%.
• Analysts expect further gains for the asset, supported by rising whale activity and key partnerships. Metrics show high transaction volume and a shift from exchanges to self-custody, indicating reduced selling pressure.

All eyes on the link

The cryptocurrency market has seen a correction the past Several hours, with many leading digital assets falling significantly. Bitcoin (BTC)for one, It dropped from $70,600 to $67,500 before stabilizing at its current level of around $68,000 (according to CoinGecko data).

However, not all cryptocurrencies are in the red. One notable gainer is Chainlink (LINK), whose price is approaching the $19 mark after a 6% increase on a daily scale and a 35% rally over the past two weeks.

Many analysts have noted the token's rise, and some envision further upside in the foreseeable future. Flash User X foot A macro chart depicting the different stages of LINK and their impact on the price. Merchant identified ten historical stages: hope, disbelief, optimism, suspense, euphoria, complacency, anxiety, denial, panic, and the last. Take off.

FLASH claimed the accumulation phase It is happening During the past two periods, which suggests that we are currently at a point of hope. They imagined that the heyday of theater might come in the following days At a price $24 (well above the session high from 2020).

the X user Zach Rynes also shared, Forecasting that LINK “will continue to be the winner in RWA's signature narrative.” His predictions are based on Chainlink predictions Major partnerships recently And interact at the “deepest level” with the global monetary system.

Recall that earlier this month, the Depository Trust and Clearing Corporation (DTCC) – a leading US financial services company providing clearing, settlement and information services – They shook hands With Chainlink and other market participants to introduce the Smart NAV pilot program. The program aims to integrate blockchain technology into traditional finance.

What We are Scale signals?

some Important Indicators associated with the Chainlink ecosystem also It indicates the possibility of further upside in the papers. According to IntoTheBlock data, LINK's combined daily transaction volume (with each transaction exceeding $100,000) Come closer The $100 million mark, which represents a 130% increase over the number recorded on May 27.

Such whale activity can occur It was interpreted As a sign of confidence in the original. As a result, retail investors may follow suit, leading to a Fresh Capital inflow and subsequent price rise.

last And not leastWe'll touch on Chainlink exchange net flow, which was mostly negative last week. the shift Centralized platforms to self-custody methods are bullish because they reduce immediate selling pressure.