Chainlink’s August: Pumped, Peaked, and Possibly Drunk on Bullish Energy 🚀

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Key Takeaways

Chainlink is doing that thing where it pretends it’s shy until $25, then suddenly everyone’s staring as it flirts with $29.26. Are we witnessing a coming-of-age? Or just another crypto fever dream (again)? NVTS apparently decided to get nostalgic and dress up in November 2024 vibes. Classic.

Chainlink [LINK] decided August wasn’t going to be another existential crisis. Nope. Instead, it spent the whole month climbing up, becoming the golden child nobody expected at the family reunion.

Meanwhile, Bitcoin [BTC] was having its mood swings, but somehow LINK kept its cool, raking in 38.6% gains over the past 30 days. Not that we’re counting (we’re absolutely counting).

On-chain heat builds (but don’t call it a fever)

Bullish sentiment? Yes. The sort that has on-chain activity throwing a little party. 🎉

Thanks to Glassnode (which sounds like a hipster ice cream flavor), AMBCrypto noticed that New Addresses have been, well, getting cozy since June. As of now, we’re living in a numbers rerun of November 2024. Oh, nostalgia, you wicked thing.

Active Addresses weren’t going to be left behind. Also on the up. It’s basically Chainlink’s comeback tour, complete with suspiciously dedicated fan base and backstage drama.

With network activity flexing like it’s at a 90s rave, long-term holders are probably dusting off their aughts optimism. Investors are peeking over their glasses. It’s all very, “Maybe this time?”

If you squint, the excitement could pass for a warning-like when your ex texts out of nowhere. But if we trust history (dubious, but fun), this LINK rally might have room to stretch its legs. Maybe.

There’s no pinky promise here, though. It’s likely, not destiny. Unless Bitcoin and Ethereum [ETH] decide to join the party, pour some flows into LINK, and then who knows – maybe it buys everyone tequila shots?

What other divine signs could Chainlink appreciate?

Here’s your fun fact: the NVT ratio is basically crypto’s cosmic scale weighing drama vs. actual utility. Low NVT says, “Look, I’m undervalued, buy me dinner first!” NVT Signal fancies itself the wise elder, smoothing out the jitters with a long-term average. So sophisticated.

Current NVTS for LINK is getting cozy with those heady days of early November 2024. Back then, LINK went from $10.56 to $29.26 like it was training for an Olympic sprint. That’s partly why all the speculation has legs (possibly chicken legs, but legs nonetheless).

LINK chart holds support (for those who like a good chart)

Let’s get visual. The 4-hour chart did its best impression of an old fortune teller, highlighting $24.88 and $29.26 as those classic “don’t-touch” levels. Both are recurring characters on the weekly chart. They demand respect, sulk if ignored.

Currently, LINK is waltzing through a rising channel (picture it in purple velvet). It’s above the $24.88 former resistance, now rehearsing to make it a support. Will it succeed, or dramatically trip over its own feet?

Indicators say buyers have come out of hibernation. If $24.3-$25 (the demand zone du jour) doesn’t ghost us, there’s every chance for a rally to the channel highs. Somebody cue the dramatic music. 🔮

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2025-08-25 06:03