Chainlink price has climbed 2.14% to $8.85 over the past 24 hours, extending its move above the $8.80 level. The cryptocurrency has surged 10% this week. According to crypto analyst Ali Charts, Chainlink price could record a 30% price surge following a major bullish on-chain signal.
Market Value Indicator
The Market Value to Realized Value ratio recently crossed above its 200-day simple moving average, forming a golden cross for the first time in more than one year. This development suggests Chainlink's market value is strengthening compared with the average value investors paid for their tokens.
Historically, the same MVRV crossovers have led to big rallies in the price of Chainlink in past market cycles. The same signal was given by the indicator earlier in November 2024 before there was a 155% bull run on LINK. Another crossover appeared in July 2025 and was followed by an 85% price increase.
Trading Volume and Open Interest
The volume of Chainlink derivatives trades decreased while the open interest rose, giving mixed signals. LINK derivatives trading fell 12.86% to $367.59 million, reflecting less activity in the short trading segment. The open interest in the same period, however, increased 4.58% to $568.75 million.
Price Outlook
At the time of writing, the LINK price surged to $8.86, extending its recovery within a broader bullish structure. The Relative Strength Index is running at 65.28, indicating good momentum. The nearest major resistance level on the four-hour chart is at $9.00, which is the first upside target. A successful move above this level may pave the way to the next target at $9.50.
