Currently, Bitcoin is valued at $66,310, and LINK Coin has seen a 20% price surge. LINK Coin, which has now crossed $16.6, rose sharply following positive news from yesterday. The surge was attributed to the successful completion of RWA tests with its institutional partners. So, what can Chainlink (LINK) Coin investors anticipate?

LINK Coin Analysis

On the Binance exchange, Chainlink (LINK) Coin emerged as the top-performing altcoin of the day. After showing weakness for a prolonged period, LINK Coin finally broke upward. Recently, LINK Coin whales have increased their accumulation. Addresses holding between 100,000 and 1 million LINK purchased 2.5 million coins just two days ago. For the latest technology updates, visit NEWSLINKER.

However, this whale group often capitalizes on rallies by selling, making today's 20% increase potentially risky. Additionally, individual investor interest seems lacking, as indicated by the drop in the average active addresses on the network from 4,400 in April to about 2,000 now.

With LINK Coin's price rising, profitable whales, and low network activity, the ongoing rally above $16.6 might quickly reverse.

LINK Coin Price Forecast

Bitcoin is currently strong, with the US market about to open. LINK Coin is aiming to build on its 20% gain, but there is a risk of a sudden drop. So, how low could LINK Coin fall if sales occur?

The gains over the past three days have nearly reached 30%, and a crucial support level for the rally has been regained. If the feared sell-off happens, the price could fall to $15.5. Below that, there is another support zone at $15.

Conversely, if LINK can close above $16.6 with support from the 61.8% Fibonacci level, the bearish scenario will be negated. This means LINK Coin is at a critical decision point for investors. If the rally continues, peak prices at $21 and higher could be possible.

In summary, while LINK Coin has shown significant growth, investors should be cautious of potential reversals. The market's next moves will be crucial in determining LINK Coin's future trajectory.