Tag Archives: LINK

The announcement of LINK’s Staking v0.2 may have given the altcoin a bullish edge. However, investors and traders may have to wait for a move above $7.87 to invalidate any bearish bias.

A growth in Chainlink’s demand was indicated by lower exchange balances. But, this does not necessarily indicate a strong bullish presence.So where is LINK headed then?

LINK marks the $7 psychological level and $8 as buy and sell interest levels, respectively. Will the short-term recovery derail at the supply area?

There were over 20 million LINK transactions, valued at over $50 million, among institutional investors. But the effect on LINK has been relatively negligible.

Chainlink buyers continued to lose more ground, as sellers extended the price retracement.

Despite the bearish conditions of the market, LINK addresses holding between 1,000 and 10 million LINK tokens have been accumulating. This indicated a shift toward the long-term potential of LINK.

Chainlink whales sprung into action in the last 24 hours, adding more than 3 million LINK tokens to their portfolios.

Chainlink faces uncertainty as substantial holders shift LINK tokens to exchanges, raising concerns about selling pressure.

As per the latest analysis, Chainlink’s price was about to exit from its macro-downtrend, suggesting a bull rally in the following days. 

LINK has established an ascending support pattern for its lower range, which means it has some room for the bears before the next support retest.

The price height of the $8.1 level once again stood in the way of Chainlink bulls with a retracement taking LINK below the $7.6 support.

LINK’s stagnancy could be linked to its 30-day Market Value to Realized Value (MVRV) ratio history. But the drawdown may not last long.