Chainlink price was among the front runners of the best-performing assets over the past few days. The altcoin noted significant gains that imbued a se
nse of optimism within the token holders, too, which was reflected in their behavior while conducting transactions on the network.Chainlink price has managed to post impressive gains over the past ten days; however, considering where it fell from last month, the asset might need to continue its green run. Trading at $7.0 at the time of writing, LINK needs to climb all the way back to $7.5 in order to recover the losses it witnessed during the mid-August crash.
The recent 21.55% rise certainly helped the altcoin recover most of the losses, but it needs more juice to keep going. A sustainable rally would only be considered when Chainlink price manages to flip the $7.4 resistance into a support floor to breach $7.5.faces corrections owing to an overheated market, it won’t fall down too far, considering all three Exponential Moving Averages are presently acting as support lines.
Contribution to this sentiment comes from the whales who have been actively acquiring LINK tokens for days now. Since the rally began, addresses holding between 10,000 LINK to 100,000 LINK tokens have seen a surge of 3 million LINK worth around $21 million.This is a positive development for the altcoin, considering the state of the crypto market at the moment.
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