Chainlink Surge Sparks Price Boom 

Chainlink’s network activity surge sparks over a 100% price boom in one month. Chainlink experienced a surge in network activity, witnessing the creation of 3044 new addresses, the highest daily count since July.

This upswing, likely driven by the overall market’s positive trend, resulted in an impressive 108% surge in Chainlink’s price over the last month. The increased trading volume observed a steady transfer of LINK tokens to cryptocurrency exchanges as holders strategically prepared for upcoming sales.

Chainlink (LINK) Sees Significant Increase in Active Addresses and Demand https://t.co/DjCbWfPHie

— COINTURK NEWS (@Cointurknews) November 11, 2023

 
Santiment’s data revealed a 17% uptick in the 30-day moving average of LINK inflow, augmenting exchange supplies by 0.1% and concurrently reducing off-exchange supply by 0.02%. With a robust daily profit/loss ratio of 2.1 and an MVRV of 76.29%, LINK investors anticipate a minimum return of 76.29%, consolidating its current peak price since April 14 at $15.04.

Key Chainlink Levels To Watch – November 13

The market’s bullish trend has begun since the rapid breakout from the previous trading range. The previous trading range was between the $8.440 swing high and the $4.930 swing low.
 
Following the invalidation of the weak high at $8.260, the price surged higher as the bulls stormed the market. According to the MA Cross, LINKUSD is very bullish, and the price is likely to keep expanding upward.

LINK Metrics

Resistance Levels: $18.320, $23.540, $28.710 
Support Levels: $9.650, $7.910, $4.930

Total Market Capitalization: $1.34T
Chainlink Market Capitalization: $8.6B 
Chainlink Volume: $0.77B 
Market Rank: #12

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