Chainlink Price Surges 10%, Potentially Setting Stage for 30% Rally
Chainlink's price has surged by 10% this week, reaching around $8.85. This rise is attributed to an MVRV golden cross signal that historically preceded significant rallies. Analyst Ali Charts highlighted this on-chain indicator, which appeared before price surges in 2024 and 2025, suggesting potential for a 30% increase.
Despite a drop in trading volume of 12.86%, open interest rose by 4.58%. This indicates that new trader positions are being taken, potentially fueling further growth. Additionally, Chainlink launched 'Chainlink for Agents,' a platform enabling autonomous AI agents to operate on blockchains with secure data feeds and cross-chain capabilities.
This new infrastructure could expand Chainlink's ecosystem and use cases, providing a boost to the network. The launch of this platform is seen as a bullish signal, further supporting Chainlink's price growth.