Chainlink (LINK) appears primed for a new major bull run based on surging on-chain activity and bullish analyst predictions. Over the last week, LINK prices have already surged over $11, but analysts say this could just be the beginning if key resistance levels are broken.
Keypoints
- Chainlink (LINK) price has seen huge gains recently, surging this past week to over $11.
- Analysts point to accumulated buying by large investors when LINK was around $7 as fuel for the rally.
- Strong on-chain metrics show surging activity in Chainlink – active addresses, new addresses, transactions have all increased 100%+ in the past week.
- Crypto analyst Johnny predicts a massive bull rally if LINK breaks $9.5 resistance, as it attempts to break out of a 500+ day trading range, similar to its 2022 bull run.
- At the time of writing, LINK was trading above $10, already moving into the bullish zone predicted by the analyst.
- Additional upside…
