Chainlink Jumps 11% Like a Cat on a Hot Stove – But $24 Ain’t Sure Yet 😂

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Key Takeaways

What in tarnation stirred LINK awake?

Well, butter my biscuit, a hearty bounce off that $16 floor, mixed with them Exchange Outflows dryin’ up and whales scoopin’ up bags like it’s Christmas mornin’, got the bulls rarin’ to go. 😏

What’s gotta happen for them skyrockets to blast off more?

A daily close breakneck above $24, hand in hand with a lowly Exchange Supply Ratio and whales still huggin’ LINK like a long-lost kin, could really stretch this ol’ rally. 🚀

Chainlink, that ornery LINK fella, done bounced like a coyote on a springy log from a critter of a demand zone around $16 on the daily chartin’. At this scribblin’s time, LINK was tradin’ near $19.25, up a spittin’ 11% in just 24 hours. How’s that for a comeuppance to the heavy sell-off durin’ them broader market stampedes? Says to me, them buyers is tippin’ the scales back in their favor, or leastways tryin’ to. Next big stumbling block’s nigh $24, the key spot LINK’s gotta vault clean over to prove we’re not just havin’ a chinwag about bullish turns. 🙄

Them technical doodads is lightin’ up like fireflies in a jar. Stochastic RSI clawed back from bein’ oversold plumb out, hollerin’ “more buyin’ comin’!” Which means LINK might keep climbin’ if them volumes don’t peter out like an ol’ washcloth. Yet, bulls, brace yerself – gotta test ahead. To keep this circus rollin’, LINK needs to bust and snap shut above that $24 hurdle. Fail that, and we’re slidin’ back to $16 like a hog down a hill. ⚠️

And atop that heap, on-chain gimcrackery’s throwin’ in more logs to the fire o’ optimism.

Chainlink’s exchange hullabaloo backs the bullish yarn

On-chain folderol piled on the cheer another notch. Exchange Outflows dwindled considerable lately, meanin’ less tokens waltzin’ to them tradin’ halls. That’s usually a sign o’ holders clutchin’ tighter than a miser on his gold, lessen the sellin’ frenzy. 😌

Same time, the Exchange Supply Ratio dipped from 0.155 to 0.151, hintin’ supplies is gettin’ scarce as hen’s teeth as demand perks up around that $19 mark. On the spot market, shrinkin’ goods match up with folks buyin’ dips just like hotcakes, showin’ fresh faith in LINK’s middlin’-term fortunes. Or so they say. 😉

Whales splashin’ in like beavers

Supportin’ the bullish claptrap, whale doin’s spiked up a storm, too. CryptoQuant’s Futures Average Order Size showed a heapin’ helpin’ o’ big whale orders near them recent lows. As we’ve seen in tales o’ yore, when these jumbo orders gang up on dips, explosive rallies ain’t far behind – could be LINK’s turn in the barrel again. 🐋

If this stockpilin’ keeps up with gettin’ structure and steam, a poke back at $24 might sneak up sooner’n a fox in the henhouse. Who knows, maybe even catch the bears nappin’! 😂

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2025-10-14 00:16