• Chainlink’s price mirrors Ethereum’s past movements, suggesting potential for a $90 breakthrough.
  • LINK’s Futures Open Interest surged, signaling growing confidence and market interest.
  • Whale and institutional buying pressure support LINK’s upward momentum, hinting at further price growth.

Chainlink (LINK) has sparked interest as its price movements seem to mirror Ethereum’s (ETH) past trends. Traders are starting to wonder: Could LINK follow Ethereum’s path and hit new highs? With a similar price structure forming, some believe LINK may be poised for growth. Can LINK break through the $90 mark?

Chainlink mirrors Ethereum: Will this help LINK surge past $90? https://t.co/EsiTTvWAOF

— AMBCrypto (@CryptoAmb) December 13, 2024

LINK and ETH: A Familiar Pattern

From 2018 to 2024, LINK’s price followed a pattern similar to Ethereum’s. LINK had three major peaks and dips, with the latest surge reaching $52. After this peak, LINK dropped sharply before entering a steady recovery phase. This closely resembles Ethereum’s price movement, especially after its significant dip and strong recovery post-2020. Ethereum soared to $4800, showing that a similar trajectory for LINK could push the price to $90.

Market Forces Driving LINK’s Price

LINK’s price movements are not just technical but also driven by strong market sentiment. LINK’s Futures Open Interest (OI) recently hit a record $770.27 million, outpacing competitors like Toncoin (TON) and Tron (TRX). This surge signals growing confidence among traders in LINK’s future. Whale activity is also a key factor.

On decentralized exchanges (DEX), buying pressure for LINK has risen, surpassing selling. Whales and institutional investors are clearly accumulating, which could signal further price growth. If this trend continues, LINK’s value could climb even higher. Chainlink’s price action, paired with increasing market interest, points to a promising future.

With more traders and institutional buyers showing confidence, breaking the $90 barrier seems possible. However, LINK will need to keep up momentum to reach that milestone. Time will tell whether LINK can follow Ethereum’s path and soar to new heights.

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