Is Chainlink (LINK) on the verge of hitting $30? The recent price surge has investors buzzing, and analysts are eyeing that key level with increasing optimism. Chainlink (LINK) surged higher this week, fueled by a spike in dormant whale transactions alongside supporting technical signals that have analysts eyeing a continued run. But what exactly triggered this upward momentum?

Several factors appear to be contributing to the renewed interest in Chainlink. Firstly, LINK has seen a 15% price surge in recent days – a clear sign that investors are starting to regain their confidence. This positive sentiment is crucial for sustained growth.

Technical analysis is also playing a significant role. Analysts say $30 is attainable, especially if the broader Chainlink consolidates above $24 with strong support from the 20 EMA and rising on-chain activity. A bullish breakout above the $26.62 resistance could target that coveted $30 mark. Furthermore, Chainlink price surged 40% in 7 days, breaking $26 resistance, fueled by market optimism. Technical indicators show bullish momentum; analysts target $30 as a realistic near-term objective.

However, it's important to acknowledge the potential risks. Not all news surrounding Chainlink has been positive. Hace 1 día Bearish sentiment dominates short-term discussions after a Chainlink oracle update glitch on May 30 triggered $532k in liquidations, dropping LINK to $14.33 (-9.58% in 24h). This highlights the volatile nature of the cryptocurrency market and the potential for setbacks.

Despite the potential for volatility, the recent surge in dormant whale transactions coupled with positive technical indicators suggests that Chainlink has the potential to reach $30. Keep a close watch on on-chain activity and key support levels to gauge the strength of this bullish trend.