Chainlink’s $24 Comeback: Is FOMO About to Send It Soaring? 🚀

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Key Takeaways

LINK has reclaimed $24, with whale accumulation, a -9.8% drop in exchange supply, and the LINK/ETH ratio rebounding off key support signaling strong FOMO-driven momentum.

Chainlink [LINK] is strutting around like it just won the lottery. Seriously, it kicked off August with a jaw-dropping 35.34% weekly candle, leaving Ethereum [ETH] in the dust with its measly 21%. At this rate, LINK is practically doing the cha-cha while ETH is still trying to figure out the Macarena. 💃

And let’s not forget the LINK/ETH ratio, which is approaching a key monthly support zone. This is the same zone that in Q4 sent LINK soaring by over 82%, while ETH was busy celebrating a modest 28% gain. It’s like watching a tortoise and a hare race, but the tortoise is on a rocket ship. 🚀

Now, if you think that’s impressive, consider this: on the daily charts, LINK’s 13% jump is outpacing ETH’s 9%. It’s like LINK is the overachieving child at a family reunion, while ETH is still trying to impress Grandma with its macaroni art. 🍝

Chainlink’s bullish structure is holding strong, but the real test is the $24 supply wall. LINK recently breached this wall with a 2.82% intraday pop, making its first move back to Q1 levels. It’s like watching a kid finally break through the “no running” rule at the playground. 🛝

Now, late Q1 to mid-Q3 holders are back in the green, and it’s all about sentiment. According to AMBCrypto, the battle between fear and greed will likely determine if Chainlink can keep this bullish train rolling. 🚂

Whales lead the charge as FOMO hits LINK

As of now, Chainlink has reclaimed the $24 mark, its first close above this level since February 2nd. It’s like a long-lost friend showing up at your door with pizza-unexpected but welcome! 🍕

The burning question is whether FOMO (fear-of-missing-out) or good old-fashioned greed (profit-taking) is ruling the day. Interestingly, HODLers aren’t rushing to dump their LINK, which shows they’ve got some serious conviction-or maybe they just really like the color blue. 💙

Despite breaking through overhead resistance, realized profit flows are still as muted as a mime at a library, keeping sell-side liquidity light. And with whale activity at a whopping 713 on-chain transactions per day, it’s clear that FOMO is driving this leg. 🐋

In the meantime, on-exchange supply has dropped by 20.69 million LINK (-9.8%) over the past eight weeks. It’s like a game of musical chairs, but instead of chairs, it’s liquidity, and instead of music, it’s the sweet sound of dollar signs. 💰

All in all, Chainlink’s structure remains as constructive as a Lego set, with ongoing accumulation supporting further upside, as FOMO-driven flows continue to outweigh profit-taking. So, buckle up, folks; it looks like we’re in for a wild ride! 🎢

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2025-08-14 04:11