Over the past seven days, ChinaLink (LINK) has gained 36.55%, reaching its highest level since January 2022.
Addition to the question Ethereumstarts gaining value and Bitcoin It came with a decline in dominance. But this could be just the beginning. According to the analysis, LINK’s rise is not yet complete and it is predicted that it may reach higher values in the coming weeks.
The FOMO hasn’t kicked in yet for LINK.
LINK, which has attracted attention with its recent surge, is currently trading at $25. This important milestone seems to have been achieved by a buying push from Chainlink Wheel.
According to Sentiment data, retail investors are not yet part of the rally. This indicates that there is still room for further growth in LINK’s value. One of the indicators to prove this is weight sentiment. Weighted sentiment measures the market’s overall perception of a cryptocurrency.
When the data in question is negative, it means that the average comments about the asset are on the downside. When it is positive, it indicates that the majority of comments have bullish expectations.
As of today, Chainlink’s weighted sentiment is in negative territory. This indicates that individual investors have not yet experienced the “Fear of Missing Out” (FOMO). Historically, when sentiment is bearish during a price rally, it’s often because the cryptocurrency hasn’t yet reached its peak.
The confidence of the holders is increasing.
Analysis of Chainlink’s token holding time metric revealed a notable trend. Most LINK holders avoid selling their tokens. Generally, a decrease in holding time indicates increased sales activity and more tokens changing hands.
However, in LINK’s case, this metric is increasing. This shows that investor confidence is increasing. The fact that holders prefer to hold their tokens rather than sell them indicates an upside expectation. If this positive sentiment continues, the upward momentum may accelerate.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
