Chainlink (LINK) has experienced a significant price surge of over 10%, catching short traders off guard. This comes after several consecutive downtrends that caused the cryptocurrency to lose 3% of its value. The price surge coincided with an increase in the Relative Strength Index (RSI), indicating a strong bullish trend, and the price broke through resistance levels. The trading volume also saw a notable increase, suggesting heightened activity in line with the rising price. Short positions saw high levels of liquidations, reaching the highest in over a month. Additionally, certain wallet activities indicate a potential accumulation move by a whale investor. Notably, the netflow of exchanges contradicted expectations, with more outflow observed despite the price rise.
AI Sentiment: Positive
