Chainlink (LINK) Is 10.8% Away From 3-Year Peak, Will It Match Up?

On-chain charts show that Chainlink (LINK) has registered up to a 7.22% increase in price to $24.96 over the past 24 hours. This places the token at about 10.8% from its three-year peak attained in January 2022.

Chainlink LINK joins other cryptos on rally

The broader crypto market greatly rebounded over the past few weeks amid expectations of changing regulations in the U.S.

Bitcoin (BTC) saw a boost that pushed its price north of the $100,000 mark. Ethereum (ETH), Solana (SOL) and many other altcoins equally registered impressive price gains. Apart from this market surge, Santiment noted that LINK began a late-week rally.

🔗📈 Chainlink has enjoyed a late-week rally, and now needs to climb just +10.8% to match its 3-year high from January, 2022. It is encouraging that there is very little retail FOMO toward LINK. Markets move the opposite direction of the crowd’s expectations, so the crowd’s… pic.twitter.com/UuKdmMMXWA

— Santiment (@santimentfeed) December 6, 2024

There appears to be little to no retail FOMO (Fear of Missing Out) toward LINK. As it stands, the market is moving in the opposite direction of the crowd’s expectations. In the long run, the crowd’s disbelief might only help fuel this price rally further.

LINK recorded a significant price increase only a few days ago, fueled by some intense whale activity.

Precisely, the whale activity on the Chainlink network was buoyed by a massive 1,219%, which coincided with a sudden 31% jump in the price of LINK. With this price jump, the coin traded at $25.12, but at the time of this writing, the LINK price has cooled off.

Can LINK hit new high?

For LINK to hit the anticipated three-year high, it would need a few catalysts, such as more whale activity or a boom in other metrics. Regarding traders’ engagement with the coin, LINK currently has a 24-hour trading volume of $1.71 billion, corresponding to a 13.64% increase.

The protocol is also featured in high-profile integrations with SWIFT, bolstering its overall appeal. This bullish trend teases why investors are confident in the asset’s future potential and are ready to invest more in the token.

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