Summary
TLDR: Chainlink’s LINK price has shown a golden cross on the 4-hour chart, signaling a bullish turn and potential value increase. The MVRV ratio indicates a good position for accumulation, with most active LINK addresses held by profitable or break-even investors. This strong investor base support could stabilize or boost LINK’s price, potentially leading to sustained growth.
Key Points
1. The LINK price has recently showcased a golden cross on the 4-hour chart, indicating a bullish turn and potential value increase. This aligns with the MVRV ratio, suggesting an advantageous position for accumulation.
2. A significant portion of active Chainlink (LINK) addresses are held by investors who are either profiting or breaking even, creating a strong foundation for ongoing consolidation and potential price stabilization or increase.
3. The MVRV ratio for LINK is currently hinting at bullish prospects, with a positive 30-day ratio indicating recent investors are profiting. This makes Chainlink a compelling choice for investment, likely attracting more buyers and supporting a sustained upward trend in price.