Chainlink [LINK] reclaims $24 – A 82% spike could follow IF…

Key Points

1. Chainlink (LINK) has reclaimed $24, marking its first close above this level since February 2nd, with a 42% monthly increase and a 35.34% weekly gain.

2. Whale activity is high (713 on-chain transactions/day), and exchange supply has dropped by 9.8% (20.69 million LINK) over eight weeks, tightening liquidity and supporting price growth.

3. The LINK/ETH ratio is approaching a key monthly support zone, which historically triggered an 82% quarterly spike for LINK, suggesting potential for further gains.

4. Despite breaking resistance, realized profit flows remain muted, indicating limited sell-side pressure and FOMO-driven buying.

5. Market sentiment (fear vs. greed) will likely determine whether Chainlink can sustain its bullish momentum.