LINK Surges 11% As Key Data Reveals Day Traders Are Locking Gains
Summary
Chainlink (LINK) surged over 10% to $11.39 after a period of consolidation. Data shows daily traders are taking profits as the price hits resistance. On-chain transaction volume indicates nearly six transactions in profit for every loss, signaling active profit-taking. LINK's price is at a critical level, with $11.40 as a key resistance. Reclaiming the 4H 200 EMA is crucial for maintaining bullish momentum. Traders are cautious as the market awaits a sustained breakout or potential reversal. The coming days will be pivotal for determining the direction of LINK's price action.
