Chainlink (LINK) is gaining traction after a slow February for the cryptocurrency market. The altcoin has started recovering, with LINK climbing 3% today, trading just above $13. Earlier, the asset saw a surge following an announcement by US President Donald Trump about plans for the country’s first crypto reserve. While LINK wasn’t mentioned specifically, the president stated the reserve would include “other valuable cryptocurrencies.”
Today, Chainlink (LINK) is seeing strong bullish sentiment, as reflected in its Long/Short ratio, which shows buyers dominating the market. Bulls are actively driving the price upward by purchasing supply in large quantities, signaling confidence that a significant decline is unlikely despite the minor pullback experienced over the weekend.
Over the past 24 hours, LINK’s trading volume has increased by 18%, reaching an impressive $705.77 million.
Chainlink: Long Buyers Take the Lead Over Short Sellers
According to Coinglass, the Chainlink Long/Short ratio, which reflects market sentiment, has increased to $1.26. This ratio compares the number of short positions (bears) to long positions (bulls).
A ratio below 1 suggests that short sellers dominate, signaling expectations of a price drop, while a ratio above 1 indicates long buyers are in control, showing optimism in the market. With the current reading above 1, there is growing confidence that LINK could aim to reclaim $15 in the coming days and potentially climb even higher by the end of March.
Many crypto experts predict a steady rise in the crypto market through May, led by altcoins like XRP and Chainlink. Speculation is growing that these coins could play a role in a potential US Government crypto reserve.
Crypto trader Nicu recently shared on X that insiders believe Chainlink’s Proof of Reserves technology is being integrated into this reserve, enhancing transparency and security. As a leader in blockchain verification, such a move would mark a significant milestone for Chainlink and potentially drive the LINK cryptocurrency to new heights.
According to our technical and price analysis, Chainlink (LINK) could surpass $15 by the end of March, potentially reaching $15.27. Experts estimate that investing $1,000 in Chainlink today and holding until the end of May 2025 could yield a profit of $581.46, representing a 58% ROI over the next 60 days.
Also Read: Solana vs. Ethereum: Which Is the Better Investment for 2025?
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
