This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Chainlink (LINK) has experienced a significant surge in price, rising by over 22% in the last 24 hours. This sudden increase comes after a period of relative quiet for the token. The price of LINK has surpassed $9, reaching a multi-month high. However, there is resistance at the $9.5 level, indicating uncertainty among investors about whether this rally is sustainable. Despite this, a crypto analyst predicts that if LINK closes above $8.2 on the weekly timeframe, the price could rise to $12.54, a 30% increase from the current level. The surge in LINK’s price can be attributed to increased activity on the Chainlink network, with significant growth in whale transactions, active addresses, and trading volume. This suggests a possible accumulation trend. As of now, the Chainlink token is valued at $9.36.