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Tag: LINKUSD

  • Chainlink (LINK) Stuck In A Box: What The Current Price Channel Means For Traders

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    Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

    Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

    In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

    In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

    Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

    Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

    Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

    Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

    Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

    He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

    In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

    His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

    Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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    Semilore Faleti

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  • Chainlink Maintains Its Base, But One Push Could Flip Sentiment Fast

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    Chainlink continues to hold its ground above key support levels, keeping the broader market cautiously optimistic. Despite recent indecisive candles, the setup suggests that one strong bullish move could quickly shift sentiment and reignite momentum toward higher targets.

    Chainlink Faces Mixed Signals As Monthly Candle Closes Bearish

    In his Chainlink daily technical outlook, crypto analyst CryptoWzrd began by reviewing the higher timeframes, noting that the monthly candle for LINK closed slightly bearish. Additionally, the LINK/BTC pair closed its monthly candle indecisively, reflecting a lack of clear momentum against Bitcoin. Meanwhile, the daily candles for both closed indecisively, setting an ambiguous tone for the near term.

    CryptoWzrd emphasizes that the LINK/BTC pair must move upside to inject meaningful momentum. For this to happen, LINK/BTC needs to hold above the $0.000170 BTC resistance level, which would generate the initial bullish sentiment required for Chainlink to begin its ascent toward the first major target.

    If the necessary bullish sentiment is secured, the altcoin is expected to be pushed toward the $20 daily resistance target. The analyst highlights that achieving a healthy bullish breakout above $20 is the critical event that will trigger the next major upside rally and confirm a stronger directional trend.

    On the other hand, CryptoWzrd identifies the $16 level as the main daily support for the current structure. This price point must hold to prevent a deeper correction that would jeopardize the current bullish targets.

    The analyst has stated that his focus for the immediate future will shift to the lower timeframe chart formations tomorrow. This micro-analysis will be crucial for identifying the best scalp opportunities as the market continues to consolidate near these critical structural levels.

    Choppy Intraday Action Keeps Traders On Edge

    CryptoWzrd went further to reveal that LINK’s intraday chart has been choppy and slow, reflecting bearishness in the market. Despite the lack of strong momentum, the price is still holding above the $16.90 level, which remains a positive sign for the bulls in the short term. Also, the analyst emphasized that a further upside move is necessary to confirm a constructive chart formation and create a potential long opportunity. 

    Without that breakout, the structure remains fragile, and traders could face difficulty finding reliable entry points for bullish setups. A drop below $16.90 could trigger a deeper decline, putting additional pressure on Chainlink. CryptoWzrd concluded that patience remains key in navigating the current indecisive phase, as it’s best to wait for the next clear signal or trading setup before making any major moves.

    Chainlink

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    Godspower Owie

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  • Chainlink Bears Show Strength, But $16 Support Could Flip The Downtrend

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    In his latest Chainlink daily technical outlook, CryptoWzrd noted that the token closed bearish, retesting the $16.00 daily support level. He mentioned plans to monitor its intraday chart closely for potential quick scalp opportunities, particularly if LINK holds above $16.80, which he views as a positive zone.

    A Possible Shift In Chainlink’s Current Bearish Action

    Moving on, CryptoWzrd pointed out that both Chainlink and LINKBTC closed the day with bearish candles, signaling short-term weakness. The downside move came after a period of consolidation, suggesting that traders may be taking profits following recent gains. Despite the pullback, the analyst emphasized that the overall market context still holds potential for recovery.

    He further explained that LINKBTC could experience an upward push if Bitcoin dominance shows positive sentiment tomorrow. A recovery in Bitcoin’s strength often translates to renewed confidence in the broader altcoin market, and LINK could benefit from this correlation. 

    According to CryptoWzrd, LINK’s retest of the $16 daily support level played out exactly as anticipated. This zone now represents a crucial decision point, holding above it could trigger a rebound toward the next major resistance of $20 and beyond if market conditions remain stable.

    However, he cautioned that with the weekend approaching, volatility may rise and market volume could thin out. As a result, CryptoWzrd maintained a balanced stance, noting that it is essential to keep expectations rational and remain alert for any signs of renewed bearish pressure.

    Bullish Breakout Could Ignite A Rally Toward $19.30

    Concluding his analysis, CryptoWzrd noted that Chainlink’s intraday chart displayed notable volatility throughout the day, with rapid price swings keeping traders on edge. Despite the choppy movements, the price is now teasing the $16.80 intraday resistance, a level that could play a pivotal role in determining the next short-term direction.

    He explained that a bullish breakout above $16.80 would likely trigger a wave of renewed buying pressure. Such a move could pave the way for a rally toward the $19.30 target, an area where previous price action has shown a strong reaction and potential for profit-taking. 

    On the other hand, CryptoWzrd cautioned that a rejection from $16.80 or prolonged trading below this resistance could lead to more sideways movement over the weekend. With lower trading volumes expected, this range-bound behavior may continue until a clear catalyst emerges to drive momentum in either direction. 

    He concluded by emphasizing the importance of patience and clarity in the current setup. The market is at a decision point, and waiting for a stronger trade formation could offer a safer entry opportunity.

    Chainlink

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    Godspower Owie

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  • Chainlink Targets $22 As LINKBTC Shows Signs Of Reversal – Is The Next Rally Close?

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    CryptoWzrd noted in a fresh update that Chainlink ended the day on a bullish note, with signs pointing to more upside ahead. The strength in LINKBTC is adding momentum, suggesting further pressure from the bulls. On the intraday chart, the $22 level is emerging as the next key bullish zone, while lower time frames remain the focus for spotting the next scalp opportunity.

    LINKBTC To Trigger A Reversal For Chainlink

    In an elaborate analysis, CryptoWzrd confirmed a strong bullish close for both the price of Chainlink and the LINK/BTC pairing. Notably, the LINK/BTC pair printed a powerful bullish daily candle, an event that coincided with a decrease in Bitcoin’s dominance. This simultaneous action suggests that capital is rotating out of Bitcoin and into altcoins like LINK, providing significant underlying strength.

    The analyst believes that a key confirmation of a major reversal is near. Achieving just one more bullish daily close from the LINK/BTC pair would offer further bullish momentum, which would solidify the reversal. Such a development would significantly aid LINK in becoming more bullish from its present price location.

    Looking at the price structure, the analysis identifies $20 as the primary daily support level for Chainlink. The current setup, driven by the strength in the LINK/BTC pair, suggests that if a second consecutive bullish daily close occurs, it could spur a rapid V-shape recovery. This implies that the recent dip would be quickly and aggressively retraced. Should this V-shape recovery materialize, the immediate outlook points to a rally toward key resistance targets such as $25, followed by the more ambitious target of $30. 

    Holding Key Resistance Zone Could Unlock Fresh Long Opportunities

    CryptoWzrd highlighted that both volatility and a strong underlying bullish bias characterized the intraday chart. A key takeaway is that a move above the $22 resistance level is an indicator of strength. Based on this impending move, the analyst stated his intention to look for a long position.

    The analyst also outlined an alternate entry scenario that could present itself sooner. He suggested that if a bearish pullback were to occur from the current price location, followed immediately by a decisive bullish reversal, this reversal pattern could trigger an early long opportunity. Meanwhile, an immediate downside support level to watch is identified at $19.80. 

    For the time being, the analyst is in a waiting period, as the current environment is ambiguous in terms of immediate entry. CryptoWzrd concluded that the next course of action is to wait for the market to further develop and produce chart formation that confirms the direction.

    Chainlink

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    Godspower Owie

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  • Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin

    Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin

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    A crypto analyst has highlighted the Chainlink remarkable resilience amidst market volatility, predicting that the cryptocurrency is getting ready to witness a 300% surge against Bitcoin, the world’s largest cryptocurrency. 

    Chainlink Poised For 300% Increase Against Bitcoin

    Chainlink, a decentralized blockchain oracle network has been gaining traction recently, bolstered by the innovative developments within its ecosystem. Popular crypto analyst, Michael van de Poppe has expressed optimism about Chainlink’s native token, LINK, predicting a major bull rally for the cryptocurrency.

    Related Reading

    Sharing a price chart depicting Chainlink (LINK)/ Bitcoin (BTC) price movements from 2021 to 2025, Poppe forecasted in an X (formerly Twitter) post that LINK is on track to witness an exponential increase between 150% to 300% against BTC. 

    Source: X

    As of writing, the price of Bitcoin is trading at $67,623, according to CoinMarketCap. The cryptocurrency has fallen below key support levels of around $70,000 and reflects a slight decline of 1.05% in the last 24 hours. 

    Poppe has revealed that he would not be surprised if Chainlink reaches this price milestone, underscoring his confidence in the cryptocurrency’s price fundamentals and future potential compared to Bitcoin. In the chart analysis, the crypto analyst pinpointed a critical resistance level for LINK/BTC around $0.000448, indicating that this point could trigger strong breakouts upward for Chainlink. 

    In an earlier post, Poppe identified Chainlink’s next resistance zone at $21, predicting that the cryptocurrency could see its price trading between $25 and $30 in the coming months. For this to happen, the crypto analyst explained that Chainlink will have to establish a higher low on the weekly time frame.  

    Poppe’s optimistic outlook on Chainlink comes after the blockchain platform has initiated several strategic partnerships. Chainlink has collaborated with Circle, a peer-to-peer payments company, to expand developer usage of USDC and Euro Coin (EURC). Additionally, the blockchain platform recently allied with SWIFT, an interbank messaging system, to accelerate the adoption of Distributed Ledger Technology (DLT).

    These innovative developments may serve as a catalyst for a potential price increase for the cryptocurrency, driven by enhanced network utility and increased adoption from new users. 

    LINK Price Update

    Amidst broader market conditions, Chainlink has been performing better than expected, experiencing consistent price increases since the beginning of the year. Over the past month, Chainlink has risen by 45.01%, underscoring the cryptocurrency’s growing demand and interest from investors.

    Related Reading

    CoinMarketCap’s data has also shown that Chainlink has surged by 3.32% in the last 24 hours and 7.79% over the past week. This bullish performance can be said to be attributed to Chainlink’s ongoing development initiatives in its ecosystem alongside the recent approval of Spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC). 

    As of writing, the price of Chainlink is trading at $18.53, reflecting a 24-hour increase of 14.86% in its daily trading volume. 

    Chainlink price chart from Tradingview.com
    LINK price fails to breach $20 | Source: LINKUSDT on Tradingview.com

    Featured image created with Dall.E, chart from Tradingview.com

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    Scott Matherson

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  • Chainlink Appetite: Whale Scoops Up $84 Million Worth Of LINK

    Chainlink Appetite: Whale Scoops Up $84 Million Worth Of LINK

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    The cryptocurrency market has been abuzz with excitement as a mysterious Chainlink (LINK) whale embarks on a remarkable shopping spree, accumulating an astonishing volume of LINK tokens. Recent data from Lookonchain reveals that this enigmatic whale wallet has acquired more than 4.5 million LINK tokens over the course of just three days. Based on the current LINK price, this accumulation is valued at a staggering $84 million.

    Chainlink Whales Surge, Holders Optimistic

    This relentless accumulation activity by the Chainlink whale has captured the attention of analysts and investors, generating anticipation for a potential future surge in the LINK price. The market is rife with speculation as traders eagerly await the outcome of this significant accumulation.

    But it’s not just the whale that is showing interest in Chainlink. Santiment’s data indicates a noteworthy increase in the total number of Chainlink holders. Over the past few months, the count of LINK holders has grown by approximately 9,000, reaching a substantial total of 717,000 holders. This surge in holders further fuels the growing optimism surrounding Chainlink’s future prospects.

    Whale LINK accumulation. Source: Lookonchain

    Adding to the intrigue, Chainlink holders are actively withdrawing their LINK holdings from exchanges. A closer look at the supply on exchanges reveals a recent trend where holders are moving their LINK away from these platforms. Currently, the supply on exchanges represents only about 21.5% of the total supply, indicating a strong belief among holders that a potential future price rally is on the horizon.

    Despite experiencing some fluctuations in recent days, the overall price trend for Chainlink remains robust. On the daily timeframe, the LINK price has been oscillating within the $18 price range for several days following a surge into this range on February 1st.

    Chainlink currently trading at $20.5330 on the daily chart: TradingView.com

    Chainlink Price: Bullish Momentum

    As of now, the price sits at around $20.40, reflecting a 12% and 16% increase in the last 24 hours and seven days, with a Relative Strength Index (RSI) remaining above 60, indicating a resilient bullish trend.

    These developments within the Chainlink ecosystem have created an atmosphere of eager anticipation among investors and enthusiasts. The whale’s accumulation, the growth in LINK holders, and the withdrawal of LINK from exchanges all contribute to the mounting excitement surrounding a potential future surge in price.

    Source: Coinglass

    Meanwhile, LINK’s positive funding rate signals a prevailing bullish sentiment, indicating a higher demand for long positions among traders. The simultaneous increase in LINK’s Open Interest further suggests that market participants are leveraging their positions to go long.

    This confluence of factors reflects a collective confidence in LINK’s upward potential, with traders expressing optimism through both funding decisions and larger leveraged positions, potentially fueling continued bullish momentum in the market.

    Featured image from Adobe Stock, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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    Christian Encila

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  • Chainlink (LINK) Price Breaks Out Of Bullish Flag Pole, Here’s The Next Target

    Chainlink (LINK) Price Breaks Out Of Bullish Flag Pole, Here’s The Next Target

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    The Chainlink (LINK) price has been on an impressive rally over the last week that has brought its price to new yearly highs. As LINK bulls continue to hold firmly above the $18 support, the emergence of this bullish rally has continued to signal that the price surge is far from over.

    Crypto Analyst Says Chainlink Bullish Flag Has Been Broken

    In an analysis posted on the TradingView website, crypto analyst CobraVanguard explains why the Chainlink price is currently very bullish. According to the analyst, despite the altcoin showing very bullish signs, a lot of traders are failing to realize that this is the case.

    They identified a flag pole that was created in the chart, and in this case, the flag for the LINK price was actually bullish. Even more interesting is the fact that the analyst revealed that the Chainlink price had successfully broken this flag, which they say is bullish for the price.

    Source: Tradingview.com

    “LINKUSDT is in a Bullish flag Patter,” the analyst said. “We can expect a bullish movement as much as the Measured Price movement (flag pole) to happen!” This further solidifies LINK’s entrance into its most bullish phase so far in 2024.

    Another major factor that the analyst identifies for the LINK price at this level is that the price was testing the major supply zone at $18. At the time, the LINK price had not cleared this level. But at the time of writing, LINk has broken clean off this major supply zone and is now trending toward $19. “The Flag Is Broken,” the crypto analyst declared.

    What Are The Targets For The LINK Price?

    In the chart shared in the analysis, the crypto analyst identifies two major points of interest in the Chainlink chart and these are the Supply Zone and the Target Price. The first, which is the Supply Zone, is at $18.3, and the LINK price has already broken above this level.

    Given this, the next major point of interest is the Target Price, and CobraVanguard puts this at the $27 price level. However, there is no straight shot toward this level as the analyst’s chart also shows a correction below the $13 support before rallying onto its target.

    If this analysis holds over the coming days/weeks, then the LINK price could see a sharp 20% correction as the first sign. Then from there, a complete 100% move upward to bring the price to the $27 price target.

    At the time of writing, LINK bulls continue to show dominance after a sharp 7% move in the last day. On the broader chart, the LINK price is up 27% in the last week, bringing its market cap to $10.9 billion.

    LINK price chart from Tradingview.com (LINK Crypto analyst)

    LINK bulls push price above $19 | Source: LINKUSDT on Tradingview.com

    Featured image from Changelly, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Scott Matherson

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  • Chainlink Gets Whale Backing: Eyes $20 Mark after Market Dip

    Chainlink Gets Whale Backing: Eyes $20 Mark after Market Dip

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    In the midst of the recent turbulence within the cryptocurrency market, Chainlink (LINK) has emerged as a notable outlier, demonstrating resilience against the sweeping downturn that has left major altcoins crumbling.

    Surprisingly, LINK has steadfastly clung to the $16 mark, showcasing a 14% rally in the last seven days and defying the prevailing market trends. However, investors are left to ponder whether this is a promising sign for Chainlink’s future or merely a momentary blip in the radar.

    Source: Coingecko

    Massive Chainlink Whale Purchase

    This positive signal coincides with a notable $8.9 million whale purchase, injecting a substantial dose of confidence into the market. Yet, beneath the surface, murmurs of a whale exodus are causing concern.

    This purchase also dampens some worries especially following a recent selling spree by Chainlink investors, who offloaded a significant 2.3 million tokens since January 12th.

    The positive signal also comes after recent concerns in the absence of a noteworthy uptick in fundamental growth metrics such as network usage. Without substantial real-world adoption, the coveted $20 price point for Chainlink might remain an elusive mirage.

    LINK market cap currently at $9.044 billion. Chart: TradingView.com

    Chainlink’s Strengths Persist Amid Market Uncertainty

    Meanwhile, IntoTheBlock’s global in/out of the money (GIOM) chart uses the historical entry prices of the current LINK holders to highlight critical levels of support and resistance.

    Source: IntoTheBlock

    In the near term, investors may opt for short-covering maneuvers to prevent falling into a net-loss position, a strategy that could lead to the consolidation of Chainlink’s (LINK) price just below the $15 threshold in the upcoming days.

    Conversely, bullish market participants could potentially counter this bearish scenario by successfully pushing the price beyond the $20 territory. However, a potential hurdle arises from the fact that over 94,000 holders have accumulated 51 million LINK at a minimum price of $18.8.

    This sizable accumulation suggests the possibility of bears establishing a formidable sell-wall in that price range, potentially triggering a retreat in LINK’s value.

    The interplay of these dynamics underscores the delicate balance between short-term tactical moves and broader market sentiment that currently characterizes the trajectory of Chainlink’s price.

    Despite the prevailing turbulence, the core strengths of Chainlink should not be overlooked. Its established role as a leading oracle provider within the blockchain ecosystem remains undiminished.

    If the broader crypto market stages a recovery and fundamental growth aligns, a resurgence for Chainlink is not out of the realm of possibility.

    Featured image from Freepik

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Chainlink Rises 17% – Is LINK On Course To Hit $20 This Week?

    Chainlink Rises 17% – Is LINK On Course To Hit $20 This Week?

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    Traders in the crypto realm are watching Chainlink (LINK) with bated breath as the price coils up near the $16 mark, hinting at a possible break out towards $17, or even $20 given the right conditions this week.

    Since November, LINK has been consolidating between $13.00 and $17.00, exhibiting classic market cycle behavior that presents prime opportunities for savvy traders.

    Technical analysts are buzzing with potential bullish scenarios, with many pointing to the current price action as the telltale sign of an “accumulation phase.” As per the renowned Wyckoff method, this phase sees sellers exiting, prices stabilizing, and indecision ruling the market.

    Will Chainlink Hit The Vaunted $20 Mark?

    Following accumulation comes the much-anticipated “markup phase,” characterized by surging buying pressure, rapid price increases, and heightened activity.

    And that’s precisely what the charts seem to be foreshadowing for LINK. Indicators like the Awesome Oscillator and MACD are flashing green and pushing towards bullish territory, suggesting growing confidence and impending upward momentum.

    Chainlink currently trading at $15.57682 on the daily chart: TradingView.com

    The Relative Strength Index (RSI) also leans north, potentially primed to cross its signal line and add fuel to the bullish fire.

    Further bolstering the optimistic outlook are the Simple Moving Averages (SMAs). Both the 100- and 200-day SMAs are pointing north, with the latter currently nestled comfortably at $9.994. This upward trajectory indicates the path of least resistance lies in ascending territory for LINK.

    Source: TradingView

    Should buying pressure build steam above current levels, analysts predict a potential leapfrog over the 50-day SMA at $16.95, paving the way for a psychological $17 price point. In a highly bullish scenario, LINK could even tap into its full $20 potential, marking a 20% surge from its current position.

    LINK price up nearly 17% in the weekly timeframe. Source: Coingecko

    17% Rally Ignites More Optimism For LINK

    But a fresh spark ignites the conversation – Chainlink just surged 17% today, propelling it closer to the long-held $17 barrier. Could this recent rally be the catalyst that sends LINK rocketing past its immediate target and into uncharted territory?

    It’s still too early to definitively say. While the technical indicators remain encouraging, external factors and market sentiment can shift rapidly. However, one thing is certain: Chainlink’s latest surge adds another layer of intrigue to its already captivating price action.

    Whether it coils upward for a glorious breakout or succumbs to profit-taking, the next few days promise to be a thrilling ride for LINK holders and a fascinating case study for technical analysis enthusiasts alike.

    Featured image from iStock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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    Christian Encila

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  • Chainlink Signal Resurfaces: Is Another 31% Rally Coming?

    Chainlink Signal Resurfaces: Is Another 31% Rally Coming?

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    On-chain data shows that a Chainlink signal that last preceded a 31% rally for the asset’s price has just reversed.

    Chainlink Age Consumed Metric Has Observed A Sharp Spike Recently

    According to data from the on-chain analytics firm Santiment, LINK has recently seen a significant movement from old coins. The relevant indicator here is the “Age Consumed,” which tells us whether the dormant Chainlink tokens are on the move or not right now.

    When the indicator’s value registers a large spike, it’s a sign that the blockchain is currently observing the transfer of a significant number of old coins. Such dormant tokens belong to a cohort called the “long-term holders” (LTHs), made up of the relentless hands of the sector.

    As such, this metric surging can be something to watch out for, as it means that these LTHs, who usually remain quiet no matter what’s going on in the wider market, have decided to break their dormancy.

    Now, here is a chart that shows the trend in the Chainlink Age Consumed over the last few months:

    The value of the metric appears to have shot up recently | Source: Santiment on X

    As displayed in the above graph, the Chainlink Age Consumed indicator has observed a sharp rise recently, implying that the LTHs have been making transactions.

    At the peak of this latest spike, the metric’s value touched 4.28 billion, which is the highest level seen since the middle of September. Back then, the indicator registered a spike almost double in scale, and interestingly, what followed in the next couple of weeks was a 31% rally as LINK went from $6.36 to $8.22.

    It’s hard to say if a similar pattern would repeat for Chainlink this time since the LTHs could have broken their silence for several reasons, including for selling.

    An analyst has pointed out that yesterday (which was about the same time as this spike in the Age Consumed), the whales made many transactions, as the chart below shows.

    Chainlink Whale Transactions

    Looks like the metric has spiked up | Source: @ali_charts on X

    In total, the Chainlink network observed 2,600 transactions valued over $100,000 yesterday. The spike would confirm that the LTHs who broke their dormancy weren’t just ordinary investors but the whales.

    In isolation, it’s hard to say why these two indicators recently observed a spike. Still, when looking at the latest LINK news, perhaps the most likely explanation becomes apparent.

    Yesterday, Chainlink staking v0.2 went live on the Ethereum blockchain, allowing the v0.1 stakers to migrate toward the new network. Thus, given the close timing of the spikes in the Age Consumed and Whale Transaction Count, it would appear quite probable that these LTHs were making transfers toward the new staking pools.

    LINK Price

    Chainlink had observed some drawdown towards the $13.7 mark just recently, but it would seem like the asset has already recovered as it’s now trading around $14.7.

    Chainlink Price Chart

    LINK has already recovered from its recent lows | Source: LINKUSD on TradingView

    Featured image from iStock.com, charts from TradingView.com, Santiment.net

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    Keshav Verma

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  • Chainlink Forms Sell Signal, Analyst Predicts Pullback To This Level

    Chainlink Forms Sell Signal, Analyst Predicts Pullback To This Level

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    An analyst has pointed out how Chainlink is forming a TD Sequential sell signal right now, which could lead to a retracement to this level.

    Chainlink Could Decline To $12.50 Following The Sell Signal

    As explained by analyst Ali in a new post on X, LINK could be heading toward a correction based on what the TD Sequential signal says. The “Tom Demark (TD) Sequential” is a popular indicator in technical analysis that is used to pinpoint reversals in the price of any asset (which, in the current discussion, is naturally Chainlink).

    The metric gives a signal whenever the asset has seen nine candles following a reversal in its price. The signal is a sell one if the candles are green, while it’s a buy one if the candles are red.

    This phase is called the “setup phase.” Once the setup is done, a 13-candle long countdown phase kicks off. At the end of these 13 candles, the price could be believed to have hit another probable bottom or top (depending on whether the phase started with a sell or buy signal).

    Chainlink has recently been enjoying some very rapid growth, which has led to the asset’s price hitting heights not seen since April of last year. This run, however, may be going toward at least a temporary setback, as according to Ali, a TD Sequential setup phase seems to have finished for the cryptocurrency recently. The signal has in fact appeared on not just one, but three of the coin’s price charts: daily, 3-day, and weekly.

    Here are the charts as shared by the analyst:

    LINK appears to have completed a TD-9 setup | Source: @ali_charts on X

    As displayed in the above graph, the Chainlink TD Sequential setup phase has finished with green candles on all of these LINK charts, implying a reversal towards the bearish side may be imminent for the cryptocurrency.

    Ali anticipates that the retracement would be towards the $12.50 level, which would mean a drawdown of more than 18% from the current price level of the asset. “Failing to hold above this critical support area could extend the losses to $10.50,” the analyst further adds.

    Such a decline all the way to $10.50 would suggest a decrease of over 31% for Chainlink, but even if such a steep drop happens, LINK still wouldn’t have fully undone the recovery it has made since the last third of October, showing just how sharp the asset’s bullish momentum has been recently.

    It now remains to be seen what trajectory the asset takes from here considering this bearish signal. So far, chances are not looking in the favor of the coin, as it has seen two red candles already since the pattern has formed, implying that the countdown phase might have begun.

    LINK Price

    Chainlink had risen above the $16.5 mark during the weekend, but the coin has taken a hit in the past day as it’s now close to the $15 level.

    Chainlink Price Chart

    LINK has more than doubled during the past month | Source: LINKUSD on TradingView

    Featured image from Shutterstock.com, charts from TradingView.com

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    Keshav Verma

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  • Analyst Forecasts Chainlink (LINK) To Fall Below $10 Following Massive Price Surge

    Analyst Forecasts Chainlink (LINK) To Fall Below $10 Following Massive Price Surge

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    Chainlink (LINK) has emerged as one of the top cryptocurrencies in the last week following an impressive market performance which saw the token gain by 46.49% in the past seven days.

    Even amidst whale movements, which suggest that investors are taking profit, LINK has managed to maintain its bullish momentum, gaining by 6.10% in the last day to above the $11 mark.

    However, despite the positive sentiment that has currently overwhelmed the LINK market, some analysts believe the token may be due for a major retracement. 

    LINK To Fall Below $10: Is The Bullish Run Over?

    In a post on X on Friday, crypto analyst Altcoin Sherpa shared a prediction that LINK may soon experience a price dip, falling as low as $9.50. 

    However, Altcoin Sherpa notes that this potential price loss may not spell the end of LINK’s bullish phase. In fact, the analyst describes the token’s price coming down as “healthy.” 

    According to Sherpa’s prediction, LINK’s slide below $10 could simply be a price recorrection before the token resumes its upward trajectory. If this forecast proves true, many traders could view this $9.50 region as a great entry zone.

    Interestingly, Cryptonary, another analyst on X, has recently shared a similar price prediction.

    In a post on Thursday, Cryptonary called for much caution in the LINK market, stating the crypto asset may not sustain its current high price levels for long. 

    To back up this forecast, the analyst states the Relative Strength Index (RSI) shows that Chainlink is currently in the overbought zone, which indicates a price pullback lies on the horizon.

    Although many traders have opened long positions on LINK as indicated by the market’s positive funding rates, Cryptonary has advised investors against “joining the crowd”

    Similar to Altcoin Sherpa, the analyst predicts LINK’s price to fall to $9.67 for a short-term retracement. However, with strong selling pressure, Cryptonary states that LINK could trade as low as $8. 

    At the time of writing, LINK trades around $11.54 with a 0.25% gain on the last day. Meanwhile, the token’s trading volume is up by 8.01% and valued at $824.92 million. 

    Chainlink Records Partnership Streak

    In other news, Chainlink recently shared with the crypto community its streak of collaborations with major traditional brands in promoting the adoption of blockchain technology.

    In a thread posted on X on Friday, the blockchain highlighted its partnership with the Swift payment company aimed at facilitating the seamless transfer of tokenized assets across multiple chains using Chainlink’s Cross Chain Interoperability Protocol  (CCIP). 

    In addition to Swift, Chainlink also discussed its partnership with the Depository Trust and Clearing Corporation, the Australia and New Zealand Banking Group Limited, and Vodafone Digital Asset Breaker (DAB).

    LINK trading at $11.569 on the daily chart | Source: LINKUSDT chart on Tradingview.com

    Featured image from iStock, chart from Tradingview

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    Semilore Faleti

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