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Tag: linkusdt

  • 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 To $100? Analyst Says This Breakout Could Be The Trigger

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    An analyst has pointed out how Chainlink could see a major bullish breakout if its price can break past the resistance barrier of this technical analysis (TA) channel.

    Chainlink Is Currently Trading Inside A Triangle

    In a new post on X, analyst Ali Martinez has talked about a level that could trigger a major bull rally for Chainlink. The level in question is the upper line of a Triangle from TA. This pattern appears whenever an asset’s price trades between two converging trendlines. Like any other consolidation channel in TA, the upper line of a Triangle is a source of resistance and lower one that of support.

    Triangles can be classified into different types depending on how the trendlines are oriented. The upper line being parallel to the time-axis results in what’s known as an “Ascending Triangle.” Similarly, the lower level being parallel forms a “Descending Triangle.”

    These two types correspond to consolidation periods in the asset where its range narrows to an upside and downside, respectively. When the range shrinks down with no bias, the resulting channel is called a “Symmetrical Triangle.” In this Triangle, the trendlines approach each other at a roughly equal and opposite slope.

    The Triangle that Chainlink has been following for the last few years doesn’t cleanly fit into any of these classes. Instead, its channel lies somewhere between an Ascending Triangle and a Symmetrical Triangle, as the chart shared by Martinez shows.

    As is visible in the above graph, the 1-day price of Chainlink retested the upper level of the Triangle earlier in the year and found rejection. The coin has since been on the way down.

    The chart also shows that LINK is slowly approaching the end of this multi-year channel. Generally, breakouts become more likely the smaller an asset’s range gets. As the coin is clearly trading inside a narrow region now, a breakout could be coming closer.

    A surge above a Triangle is usually a bullish sign, while a decline under the channel can lead to bearish action. As such, the next retest from Chainlink could be worth keeping an eye on, as a breakout could set the tone for the coin’s upcoming price action.

    It only remains to be seen, however, whether LINK would next retest the upper level or the lower one. In the scenario that the coin can break past the resistance line situated around $25, the analyst thinks its price could see a bull rally.

    For the target, Martinez has referred to the 1.272 Fibonacci Extension level. Fibonacci Extension levels drawn up from the top (considered as the 1 level), based on ratios from the famous Fibonacci series. The 1.272 level indicated by the analyst lies around $100.

    LINK Price

    At the time of writing, Chainlink is floating around $18, down over 2% in the last seven days.

    Chainlink Price Chart

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    Keshav Verma

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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 (LINK) Primed for Another Surge: Major Rally on the Horizon?

    Chainlink (LINK) Primed for Another Surge: Major Rally on the Horizon?

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    Chainlink’s LINK price is gaining bullish momentum above $16.50. The price could continue to move up if it clears the $17.50 resistance zone.

    • Chainlink price is showing bullish signs and eyeing more gains above $17.00 against the US dollar.
    • The price is trading above the $16.50 level and the 100-hourly simple moving average.
    • There was a break above a key bearish trend line with resistance near $16.50 on the hourly chart of the LINK/USD pair (data source from Kraken).
    • The price could start another increase if it clears the $17.50 resistance zone.

    Chainlink Price Eyes Additional Upsides

    In the past few days, Chainlink remained in a positive zone above the $15.00 level, like Bitcoin and Ethereum. There was a move above the $16.50 and $17.00 levels. A high was formed at $17.45 before there was a downside correction.

    The price dipped below $16.50 and tested $15.35. A low was formed at $15.34 and the price recently attempted a fresh increase. There was a move above the $16.50 level. It even jumped above the 50% Fib retracement level of the downward move from the $17.45 swing high to the $15.34 low.

    Besides, there was a break above a key bearish trend line with resistance near $16.50 on the hourly chart of the LINK/USD pair. Chainlink is now trading above the $16.50 level and the 100 simple moving average (4 hours).

    Source: LINKUSD on TradingView.com

    Immediate resistance is near the $16.90 level or the 76.4% Fib retracement level of the downward move from the $17.45 swing high to the $15.34 low. The next major resistance is near the $17.50 zone. A clear break above $17.50 may possibly start a steady increase toward the $18.20 level. The next major resistance is near the $18.80 level, above which the price could test $20.00.

    Another Decline In LINK?

    If Chainlink’s price fails to climb above the $17.50 resistance level, there could be a fresh decline. Initial support on the downside is near the $16.65 level.

    The next major support is near the $16.20 level, below which the price might test the $15.50 level. Any more losses could lead LINK toward the $15.00 level in the near term.

    Technical Indicators

    Hourly MACD – The MACD for LINK/USD is gaining momentum in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level.

    Major Support Levels – $16.65 and $16.20.

    Major Resistance Levels – $17.00 and $17.50.

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    Aayush Jindal

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  • LINK Price Eyes Recovery If It’s Able to Hold One Crucial Level

    LINK Price Eyes Recovery If It’s Able to Hold One Crucial Level

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    Chainlink’s LINK price retested the $12.00 support zone. The price is now eyeing a recovery wave above the $13.50 and $15.00 resistance levels.

    • Chainlink price is showing bearish signs below the $15.00 resistance against the US dollar.
    • The price is trading below the $14.20 level and the 100 simple moving average (4 hours).
    • There is a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken).
    • The price could start a decent increase if it clears the $15.00 resistance zone.

    Chainlink (LINK) Price Eyes Steady Increase

    In the past few days, Chainlink saw a major decline from well above the $18.00 level. LINK price declined below the $15.00 pivot level to enter a short-term bearish zone, like Bitcoin and Ethereum.

    The price tested the $12.00 support zone. A low was formed at $11.92 and the price is now attempting a recovery wave. There was a move above the $12.50 level. It even jumped above the 23.6% Fib retracement level of the downward move from the $18.66 swing high to the $11.92 low.

    LINK price is still trading below the $14.20 level and the 100 simple moving average (4 hours). Immediate resistance is near the $13.50 level. There is also a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair.

    Source: LINKUSD on TradingView.com

    The next major resistance is near the $15.00 zone. A clear break above $15.00 may possibly start a steady increase toward the $16.00 level or the 61.8% Fib retracement level of the downward move from the $18.66 swing high to the $11.92 low. The next major resistance is near the $18.00 level, above which the price could test $20.00.

    More Losses?

    If Chainlink’s price fails to climb above the $13.50 resistance level, there could be a fresh decline. Initial support on the downside is near the $12.80 level.

    The next major support is near the $12.00 level, below which the price might test the $10.80 level. Any more losses could lead LINK toward the $10.00 level in the near term.

    Technical Indicators

    4 hours MACD – The MACD for LINK/USD is gaining momentum in the bearish zone.

    4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now below the 50 level.

    Major Support Levels – $12.80 and $12.00.

    Major Resistance Levels – $13.50 and $14.00.

    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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    Aayush Jindal

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  • Whale Rapidly Accumulating Chainlink: What’s Going On With LINK?

    Whale Rapidly Accumulating Chainlink: What’s Going On With LINK?

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    A mysterious whale is rapidly accumulating Chainlink (LINK). According to Lookonchain, the unknown entity, possibly an institution, withdrew over 2.2 million LINK (worth $42.38 million) via 47 new wallets from Binance, the world’s largest crypto exchange by trading volume, in two days.

    This sudden block withdrawal now raises questions about what’s driving the whale’s interest and what it could mean for LINK in the coming days.

    Crypto whale accumulating LINK | Source: Lookonchain via X

    Chainlink Is Key In DeFi And NFTs, Gradually Improving 

    Chainlink is a popular project that provides secure middleware services and allows smart contracts to access tamper-proof external data. For this role, the platform has been adopted by multiple protocols offering decentralized finance (defi) services in Ethereum and beyond. 

    Additionally, Chainlink plays a role in non-fungible tokens (NFTs) through its random number generator (RNG). It continues to release new products and enhance its features.

    To illustrate, in November, Chainlink upgraded its staking mechanism, releasing v0.2, which significantly increased the pool size to 45 million LINK. 

    The platform noted that the decision was to attract more investors and, more importantly, bolster its security while concurrently aligning with its broader objective of attaining the “Economics 2.0” plan.

    Initially, staking began in December 2022. The goal was to incentivize participation by expanding the utility of LINK and allowing stakers to receive rewards. 

    The release of v0.2 in November means more tokens can be locked, helping make LINK scarce, considering the role of the token in the vast Chainlink ecosystem. 

    Trackers show that over 40.8 million LINKs have been locked so far. Chainlink confirms that anyone can earn a variable reward rate of 4.32%.

    LINK staked | Source: Chainlink
    LINK staked | Source: Chainlink

    Beyond staking, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is gaining adoption. To illustrate, the Hong Kong Monetary Authority (HKMA) initiated its first phase of e-Hong Kong Dollar (e-HKD) trials in November, integrating CCIP. 

    As part of this trial, the regulator wanted to illustrate the capabilities of programmable payments enabled by Chainlink via its solution, CCIP. In DeFi, protocols such as Synthetix and Aave have adopted CCIP. 

    Will LINK Breach $20?

    With more protocols and traditional institutions leveraging the technology, the demand for LINK (and prices) will likely increase as the fear of missing out (FOMO) kicks in.

    While the whale’s motives remain unknown, their large-scale LINK accumulation suggests they might be bullish on the token. Notably, it coincides with the sharp expansion of LINK prices in the past 48 hours. 

    Chainlink price trending upward on the daily chart: Source: LINKUSDT on Binance, TradingView
    Chainlink price trending upward on the daily chart: Source: LINKUSDT on Binance, TradingView

    So far, the token is changing hands slightly below the $20 psychological resistance. Any breakout above this level might lift the token to around $35 in Q3 2021.

    Feature image from iStock, 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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    Dalmas Ngetich

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  • Chainlink Price Stalls As $287 Million Worth Of LINK Makes Its Way To Binance

    Chainlink Price Stalls As $287 Million Worth Of LINK Makes Its Way To Binance

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    The price performance of Chainlink is one of the previous week’s biggest narratives, rivaling Bitcoin making its way above $43,000 again. According to data from CoinGecko, the altcoin recorded a significant 25% price increase in the last seven days.

    However, the price of LINK seems to be slowing down, as it keeps struggling to hold above the $18 level. While expectations are that this sluggishness will blow over soon, the question still is – why is the Chainlink price stalling?

    16 Million LINK Tokens Transferred To Binance

    The latest on-chain revelation has offered insight into why the price of LINK is facing some form of bearish pressure. In a post on X, crypto analytics firm SpotOnChain disclosed that 19 million tokens (worth about $341 million) were recently unlocked from three of Chainlink’s non-circulating supply contracts.

    In a more detailed breakdown, the on-chain analytics firm revealed that 15.95 million tokens (valued at $287 million) were moved to Binance, the world’s largest centralized exchange. Meanwhile, the remaining 3.05 million Chainlink (worth $54.3 million) were transferred to multi-sig wallet, 0xD50f.

    According to SpotOnChain, this is not the first time transactions involving Chainlink’s wallets and of this caliber will happen. The analytics platform disclosed that Chainlink has been unlocking and transferring some of the unlocked tokens to Binance as far back as 2022.

    On-chain data shows that Chainlink has unlocked a total of 106 million tokens, with 88.95 million LINK sent to Binance since August 2022. At an average price of $9.06, the entire worth of these transactions stands at $805 million.

    SpotOnChain noted that the last two unlocks have been followed by a slight dip in LINK’s price. The last unlock saw the Chainlink token fall from almost $19 to $17.5 on Saturday, February 3.

    As of this writing, the LINK token is valued at $17.86, reflecting a nearly 1.5% price jump in the past day.

    Chainlink Records Multi-Month High In Transaction Volume

    It appears that the price of LINK will not remain stagnant for very long, as the most recent on-chain data indicates that Chainlink has experienced a notable increase in network activity over the last few days. Positive network fundamentals could be all the altcoin needs to resume its bullish run.

    According to Ali Martinez, the network recently witnessed a significant surge in transaction volume, bringing the metric to its highest in almost two years. Based on IntoTheBlock’s data, more than 72.24 million LINK tokens (equivalent to $1.3 billion) were transacted on Friday, February 4. 

    The Chainlink price continues to hover around the $18 level on the daily timeframe | Source: LINKUSDT chart on TradingView

    Featured image from iStock, 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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    Opeyemi Sule

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  • LINK Price Rallies Over 5%, A New Uptrend In Making For Chainlink?

    LINK Price Rallies Over 5%, A New Uptrend In Making For Chainlink?

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    Chainlink’s LINK price is moving higher above the $15.00 resistance. The price is now up over 5% and might aim for a move toward the $18.00 resistance.

    • Chainlink price is showing positive signs above $14.50 against the US dollar.
    • The price is trading above the $15.00 level and the 100 simple moving average (4 hours).
    • There was a break above a key bearish trend line with resistance near $14.85 on the 4-hour chart of the LINK/USD pair (data source from Kraken).
    • The price could rally further if it clears the $16.40 resistance zone.

    Chainlink (LINK) Price Eyes More Upsides

    In the past few sessions, Chainlink bulls were able to send the price above a few key hurdles at $14.50. Earlier, LINK price formed a base above the $12.50 and started a fresh increase.

    There was a break above a key bearish trend line with resistance near $14.85 on the 4-hour chart of the LINK/USD pair. The bulls pumped the pair above the 50% Fib retracement level of the downward move from the $17.59 swing high to the $12.50 low.

    LINK is now trading above the $15.00 level and the 100 simple moving average (4 hours). The price is up over 5% and outpacing both Bitcoin and Ethereum. If the bulls remain in action, the price could rise further. Immediate resistance is near the 61.8% Fib retracement level of the downward move from the $17.59 swing high to the $12.50 low at $15.65.

    Source: LINKUSD on TradingView.com

    The next major resistance is near the $16.40 zone. A clear break above $16.40 may possibly start a steady increase toward the $17.50 and $18.00 levels. The next major resistance is near the $18.80 level, above which the price could test $20.00.

    Are Dips Limited?

    If Chainlink’s price fails to climb above the $15.65 resistance level, there could be a downside correction. Initial support on the downside is near the $14.50 level.

    The next major support is near the $13.70 level, below which the price might test the $13.00 level. Any more losses could lead LINK toward the $12.50 level in the near term.

    Technical Indicators

    4 hours MACD – The MACD for LINK/USD is gaining momentum in the bullish zone.

    4 hours RSI (Relative Strength Index) – The RSI for LINK/USD is now above the 50 level.

    Major Support Levels – $15.00 and $14.50.

    Major Resistance Levels – $15.65 and $16.50.

    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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    Aayush Jindal

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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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  • XRP Price To Go Parabolic, Here’s When

    XRP Price To Go Parabolic, Here’s When

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    On Wednesday, October 25, a prominent cryptocurrency analyst Dark Defender revealed that the price of XRP will go parabolic in the future, highlighting how it is going to happen and when it is expected to happen. 

    Crypto Analyst’s XRP Price Projection

    The XRP analyst recently took to X (formerly Twitter) to share his predictions and optimism on the XRP price going parabolic and how it is going to happen.

    In the Dark Defender X post, there are two crucial support levels and three resistance levels for the digital asset, which include $0.52 and $0.46 for the support levels, while the resistance levels are $0.66, $1.88, and $5.85. 

    According to him, the XRP price could be on its way to surpass the $1 mark if it manages to break through the $0.66 resistance level. And when this happens, the next resistance level will be $1.88. 

    The analyst’s recent projection presents a 210.64% price surge if the XRP price breaks through the $1.88 resistance level, which will see the cryptocurrency potentially heading toward the coveted $6 mark.

    One interesting thing about the analyst projections is the fact that his projections are based on an examination of the XRP’s weekly market trajectory over the past two years.

    According to the chart posted by Dark Defender, the trends that were evident prior to the July surge seem to be resurfacing, suggesting a potential bullish run for XRP between 2024 and 2025.

    So far, the XRP analyst is not the only one who believes in a potential price for XRP. Several other experts have shown increased credence about the XRP’s potential price surge this year.

    In September, Wells Fargo manager Shannon Thorp predicted the price of XRP could go as high as $500, presenting a bullish concept for the cryptocurrency.

    XRP traded at $0.55 | Source: Tradingview.com

    Another prominent figure in the crypto space who has expressed his optimism about the XRP price potential is CryptoInsight, drawing comparisons to the Bitcoin fractal from 2017. This is because the question that has been swelling among the crypto community is whether XRP will mirror the 2017 Bitcoin fractal in the coming weeks.

    Leaving the result open-ended, he speculated that there is a possibility that XRP will outperform following a five-year period of consolidation.

    According to CryptoInsight, this is because most of the cryptocurrencies now basically began their bull market after surpassing their previous peak, but the XRP seems to have plummeted due to the SEC’s lawsuit on Ripple being dropped. 

    However, a recent rally has shown a significant 13% surge in the price of XRP over the past week, with a trading volume of $2.3 billion. The cryptocurrency is currently trading at $0.55 as of the time of writing.

    With XRP’s recent growth, the cryptocurrency seems to have surpassed some of the leading altcoins in the crypto market, such as Solana (SOL) and Chainlink (LINK).

    Featured image from AltcoinsBOX, chart by Tradingview.com

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    Godspower Owie

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  • Chainlink (LINK) Price Hits New Highs With 22% Surge In A Single Day

    Chainlink (LINK) Price Hits New Highs With 22% Surge In A Single Day

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    Following a week dominated by Bitcoin and its positive performance, Chainlink (LINK) has emerged as one of the best performers in the crypto market this weekend. This comes after a long period of relative silence and sideways movement for the token’s price. The abrupt and significant surge in Chainlink price may have surprised many investors, but it only further highlights the volatile nature of the crypto market.

    Chainlink Price Soars 22% In One Day – What’s Next?

    According to data from CoinGecko, the price of Chainlink is up by more than 22% in the last 24 hours. Over the past day, LINK’s double-digit price explosion has seen the altcoin surpass the $9 mark, resulting in a multi-month high. LINK’s performance appears to be even more notable on the weekly chart, with a nearly 30% increase in the last seven days. 

    Although Chainlink maintains a substantial percentage of its gain, the token’s price seems to be facing significant resistance at the $9.5 zone. This reflects the uncertain sentiment of investors who seem unsure whether the current rally is a fluke or a bullish hint. Nevertheless, a crypto analyst expects LINK to build on this positive momentum.

    In a post on X (formerly Twitter), crypto trader Mags noted that the Chainlink price has just broken out of a consolidation wedge spanning more than a year. The analyst postulates that a close above $8.2 on the weekly timeframe will see the LINK price rise to $12.54. This represents a significant 30% projection from the current price point.

    As of this writing, the Chainlink token is valued at $9.36. According to CoinGecko data, LINK is enjoying a 468% surge in its trading volume over the past 24 hours.

    What Is Behind The Multi-Month High?

    A dive into the Chainlink network activity can help understand the driving force behind the latest resurgence in LINK’s price. Interestingly, a recent report from the on-chain analytics platform Santiment offers insight into the activity levels of the network.

    Santiment’s data report posted on X highlighted that Chainlink has been experiencing increased activity over the past few days. Specifically, the network witnessed significant growth – reaching three-month highs – in terms of whale transactions, active addresses, and trading volume this weekend.

    Chainlink network activity surges to three-month highs | Source: Santiment on X

    As the highlighted chart shows, LINK saw more than 220 whale transactions above the $100,000 mark on Saturday, October 22, while nearly 5,000 unique addresses interacted with the altcoin on the same day. Furthermore, Chainlink recorded more than 800 million in LINK trading volume on Saturday.

    While these data points don’t exactly indicate whether buying transactions are the prevailing activity on Chainlink, the ensuing LINK price rally suggests a possible accumulation trend.

    Chainlink

    Chainlink price on an upward trajectory on the daily timeframe | Source: LINKUSDT chart on TradingView

    Featured image from Shutterstock, chart from TradingView

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    Opeyemi Sule

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