Chainlink Price Potential 300% Rally
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Business & Economics
Is Chainlink Price Set to Trigger Bullish Reversal as MVRV Flashes Buy Signal?
59% Informative
Chainlink price could be poised for an over 300% rally after the MVRV flashed a buy signal.
Whale whales are accumulating at the current price after purchasing 1.01 M LINK tokens valued at around $20M.
Link has been trading rangebound over the past week , with a bullish breakout being contingent on price flipping the middle Bollinger band on the 1-day chart.
The Market Value to Realized Value ( MVRV ) ratio has since dropped to -16.3%, indicating that most traders are sitting at a loss.
This drop could mark the start of an accumulation phase by buyers looking to buy at low prices.
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