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Chainlink (LINK) has been generating significant buzz in the cryptocurrency community recently, thanks to insights shared by the pseudonymous analyst Rekt Capital on social media. Rekt Capital’s statement about Chainlink’s shift into a bullish trend after a period of sideways movement has caught the attention of market observers. The current price of Chainlink is $12.86, with a 24-hour rally of 5.6% and a seven-day surge of 11.4%. Rekt Capital’s proclamation that “the macro downtrend is over” has sparked optimism among investors, suggesting a promising future for the cryptocurrency.One key indicator supporting Rekt Capital’s analysis is the notable increase in the number of Chainlink wallets holding a minimum of 1,000 LINK tokens. The data shows a significant surge in the total count of such wallets, reaching an all-time high of 27,152. This surge in wallet activity indicates growing interest in Chainlink, potentially contributing to its recent upward momentum.A closer look at the TradingView chart further reinforces the bullish sentiment surrounding Chainlink. The technical analysis chart highlights a remarkable upward trajectory, with Chainlink surpassing both the 50-day and 200-day moving averages. This development serves as a strong signal for the continuation of the current bullish trend. The fanning out of the moving averages further strengthens confidence in Chainlink’s performance.Investors and traders are taking note of these developments and expressing growing confidence in Chainlink’s potential. The cryptocurrency community has responded positively to Rekt Capital’s assessment, with many anticipating a sustained upward trajectory for Chainlink in the foreseeable future.Market sentiment is shifting in favor of Chainlink, with more participants considering it a lucrative investment option in the dynamic cryptocurrency market. Industry experts are closely monitoring the broader altcoin market, particularly Rekt Capital’s assertion regarding the breakout from the year-long market structure. This shift in market dynamics suggests a potentially optimistic outlook for altcoins, indicating a more vibrant and dynamic market environment in the coming months.However, it is important for investors and analysts to exercise caution and conduct thorough research before making any investment decisions. While the current market conditions appear favorable for Chainlink, the cryptocurrency landscape remains inherently volatile, requiring a cautious approach to investment strategies.