Chainlink (LINK) Rejected At $9.20 But Picks Up Steam – Levels To Watch

While the broader crypto market is currently trying to recover from the shock surrounding FTX and the accompanying fears of a contagion effect, Chainlink has recorded the highest price increase within the top-100 by market cap within the last 24 hours. At press time, the LINK price was up 6.2% from the previous day, trading at $8.71. Over the past seven days, Chainlink has even posting a whopping plus of around 13%. Trading volume has grown to $1.435 billion in the last 24 hours, up 161% from the previous day. Related Reading: Will Binance Oracle Hamper Chainlink Growth Amid The Bullish Run According to on-chain analysis service Santiment, the LINK price has risen to just above $9.20 for the first time since August 13, a 3-month high despite very volatile markets. The data aggregator believes the reason for the surge is the large volume of active LINK addresses for the past 5 weeks. Chainlink (LINK) Showing Strength Back on October 30, Santiment wrote that whales “got pretty active this weekend” after the LINK price cracked the $8 mark a couple of times. Santiment wrote: Saturday saw 33 different $LINK transactions exceeding a value of $1 million. This was the highest whale activity day since June 27th. By the end of October, the number of wallets with more than 100,000 LINK aka whales has increased to 459. This is the highest level since 2017. A look at the 1-day chart reveals that Chainlink (LINK) stopped just sh...