Chainlink Token Has Grown 44% in a Week and Is Still Undervalued

Over the last week the rate chainlink (LINK) has surged 44% and is now poised for another rally, according to crypto traders.

LINK looks like it’s ready for round two, popular crypto trader Johnny wrote on Wednesday.

In the last 30 days chainlink has risen 54% and is trading at $24,00 at press time, according to CoinMarketCap data.

Santiment analysts said this was the «highest level of the bullish trend» that chainlink registered on February 1, that is, more than six months ago.

LINK could be the most obvious large-cap coin in this cycle. But most people will miss out, says crypto trader Miles Deutscher.

Despite the recent rally, LINK’s price is still 55% below its all-time high of $52,88 set in May 2021.

Meanwhile, analysts say many traders are waiting for popular 2021 coins to return to their peaks before selling them at breakeven. So another rally chainlink by 6,2% to $25,50, putting short positions worth about $61 million at risk of being liquidated.

Source