Chainlink Price Surges 10% Amid Bullish On-Chain Signals

Chainlink's price surged by 10% over the past week, trading near $8.85 after a 2.14% daily gain. The token is among the stronger performers in the market this period.

An on-chain signal, known as an MVRV golden cross, has historically preceded major LINK rallies. Analyst Ali Charts pointed to this signal, which appeared before a 155% rally in November 2024 and an 85% rally in July 2025.

Chainlink's open interest climbed 4.58% to $568.75 million even as trading volume fell 12.86%. The rise in open interest suggests traders opened new positions despite lower overall activity.