Chainlink (LINK) price prediction: Monthly rise of 42%! Outperforming Ethereum, Whale accumulation ignites FOMO sentiment.

Chainlink (LINK) has recently shown strong momentum, surging 35.34% in the first week of August, crushing Ethereum's 21% increase and achieving a monthly rise of 42% (about double that of ETH). The key indicator LINK/ETH Exchange Rate is approaching a critical monthly support area, which previously triggered a quarterly rise of up to 82% for LINK in Q4 last year (far exceeding ETH's 28%), becoming a key barometer for predicting LINK's future market. The price of LINK has successfully broken through the key resistance level of $24 (the first time above this level since February 2), and on-chain data shows a surge in whale activity (an average of 713 on-chain transactions per day), with the exchange supply decreasing by 20.69 million LINK (-9.8%) over the past 8 weeks. The tightening liquidity combined with fear of missing out (FOMO) buying is driving the upward trend. Despite the breakthrough of resistance, the realized profit flow remains sluggish, and holders are clearly reluctant to sell. If the greed sentiment continues to dominate and selling pressure remains low, LINK is expected to maintain a bullish structure.

LINK is surging violently, crushing Ethereum in all aspects

(TradingView) Chainlink (LINK) has shown strong performance recently. In the first week of August, it recorded an astonishing 35.34% rise, easily surpassing Ethereum (ETH)'s 21% rise during the same period. So far this month, LINK has risen a total of 42%, which is about twice the rise of ETH. This strength is not only reflected in the absolute price but, more importantly, in its performance relative to ETH.

LINK/ETH Exchange Rate Approaching Key Level, History May Repeat? The true advantage of LINK is reflected in its Exchange Rate with ETH (LINK/ETH). This Exchange Rate is currently approaching a critical monthly support area. It is worth noting that in the fourth quarter of last year (Q4), when the Exchange Rate reached a similar area, it triggered a big pump of over 82% for LINK in a single quarter, significantly outpacing ETH's rise of 28% during the same period. This makes the current Exchange Rate position crucial for predicting LINK's next movement.

This divergent trend is reflected across multiple time frames. Even in the context of ETH benefiting from institutional fund inflows and supply tightening, LINK's 13% rise at the daily level still outpaces ETH's 9%.

Breakthrough key resistance level $24, bullish structure solid The bullish structure of Chainlink is currently intact. The key test it faces recently is to break through the $24 supply resistance wall (key resistance level). LINK has risen 2.82% intraday, successfully surpassing this threshold, marking the first return to this level since the first quarter (Q1) of this year. This breakthrough has allowed holders who bought from the end of Q1 to mid-Q3 to turn a profit overall. The current market focus is on sentiment; according to AMBCrypto analysis, the battle between greed and fear will determine whether Chainlink can maintain the current bullish continuation.

Whale dominance, driven by FOMO, supply constraints push up prices As of the time of writing, Chainlink has successfully reclaimed the $24 mark, which is the first time it has closed above this price level since February 2nd. The key issue is whether the current market is dominated by FOMO (fear of missing out) or greed (taking profits). Interestingly, long-term holders (HODLers) are not in a hurry to sell, indicating strong holding confidence.

Despite breaking through the upper resistance level, on-chain data shows that realized profit flows remain sluggish, indicating that selling liquidity is still thin. Coupled with the recent significant increase in whale activity (with an average of 713 on-chain transactions per day), it can be clearly concluded that FOMO is the main force driving this round of rise.

(Santiment)

At the same time, over the past eight weeks, the supply of LINK on the exchange has significantly decreased by 20.69 million coins (a decrease of 9.8%). This liquidity tightening, combined with concentrated buying power, has effectively pushed the price above 24 dollars.

Conclusion Overall, Chainlink's technical structure remains constructively bullish. Ongoing chip accumulation (especially whale behavior) provides support for further price increases. Currently, the inflow of funds driven by FOMO sentiment continues to surpass profit-taking selling pressure, with market momentum leaning towards the bulls. Investors need to closely monitor the results of the battle for the LINK/ETH exchange rate key level and changes in on-chain profit-taking signs, as this will determine whether LINK can sustain its strength and challenge higher targets. (Note: The cryptocurrency market is highly volatile, LINK is a mainstream altcoin with high price volatility, investors should be cautious of risks and avoid blindly chasing FOMO trends.)