Chainlink MVRV Enters Bearish Zone As LINK Breaks $10, Correction Soon?

On-chain data shows the Chainlink MVRV ratio has shot up as LINK has rallied above $10, a sign that a steep correction may be due for the asset.
Chainlink 30-Day MVRV Ratio Has Crossed The Bearish 20% Mark
As explained by an analyst in a post on X, the last three times the LINK MVRV ratio hit similar levels as now, the cryptocurrency registered a sharp drawdown. The “MVRV ratio” (where MVRV stands for Market Value to Realized Value) is an indicator that measures the ratio between the