Loading
Welcome at World Crypto Global. This portal is packed with useful content and resources to built out your own crypto skills. WorldCrypto is a site member of Gabriel Vega Network.
Renowned analytical platform Santiment reported that both Chainlink and Ethereum have reached an all-time low in the 30-day and 365-day average of trading returns. In a recent post on X, the platform highlighted this considerable decrease in return, pointing out the current trends in these large cryptocurrencies. According to Santiment analysis, Chainlink and Ethereum trading […]
Chainlink (LINK) has surged over 10% in the past few hours, pushing its price to $11.39 at the time of writing. This significant gain comes after two weeks of sideways consolidation, signaling a potential shift in momentum. Related Reading: Chainlink Drops by 64% In 5 Months, LINK Holders Unfazed: They Are Rapidly Accumulating As LINK rallies, data from Santiment, a leading crypto data intelligence platform, reveals that some daily traders are already taking profits, capitalizing on the recent price increase. This profit-taking activity highlights investors’ cautious optimism as LINKs price gains momentum and reaches technical resistance in the 4-hour timeframe. LINKs On-Chain Transaction Volume Showing Profit-Taking LINK’s daily profit-to-loss transaction volume has reached its highest level since July 14, with the ratio at 5.986. This means there are nearly six transactions in profit for every transaction in loss, signaling that short-term holders are actively taking profits following the recent move up. Such a high ratio indicates that investors are capitalizing on a significant price increase or relief rally, locking in gains as the market tests key levels. This profit-taking trend reveals the dynamics prevailing among traders, even as LINKs price continues to gain momentum in the market. With the token testing local supply around the $11.40 mark, the market sentiment is one of careful anticipation. Traders are keenly aware of the delicate balance between further gains and potential pullbacks. Investors will watch for signs of a sustained breakout or a potential reversal as LINK approaches this threshold. The outcome at this level could set the tone for LINKs price action in the coming days, making it a critical juncture for traders and investors alike. Technical Details: LINK Price In Critical Level LINK is trading at $11.31 after breaking a local high of $10.83 set on August 8, confirming an uptrend on the daily time frame. The price rally paused at $11.40, right at the 4-hour (4H) 200 exponential moving average (EMA), underscoring the significance of this technical indicator in lower time frames. This indicator acts as a dynamic support or resistance level, often indicating the trend in lower time frames. For LINK, reclaiming this level is crucial to confirm bullish momentum. For LINK Bulls to maintain momentum, the next crucial step is to retake the 4H 200 EMA and aim for $13. Conversely, if LINK fails to consolidate above this indicator, it could lead to a retest of the previous resistance at $10.83 and potentially a dip to the higher low around $9.90. Related Reading: Analyst Says Chainlink Price Could Climb To $19 Heres How Despite some day traders locking in profits, this activity should be seen as a sign of healthy profit-taking after a modest rally. The current price action reflects a market in consolidation, with traders closely watching for the next move. As LINK hovers near critical levels, the coming days will be pivotal in determining whether the uptrend continues or if a pullback is on the horizon. Cover image from Dall-E, Charts from Tradingview
The decentralized oracle network ChainLink and its native token, LINK, have staged a price recovery amid the broader cryptocurrency market’s bounce from a recent significant correction. Despite experiencing a 16% price retracement over the past month, LINK has regained its stronghold, rising 5% to $13 in the past 24 hours after hitting a six-month low of $11 on Friday. Still, cautionary signals have emerged that caught the attention of crypto expert Ali Martinez. Bearish Signals For ChainLink In a recent social media post, Martinez raised concerns about a pattern visible on LINK’s daily chart, suggesting the potential for a substantial price correction ahead. Specifically, the analyst highlighted a possible retest of the neckline of the head-and-shoulders pattern during the recent upswing to $13. Related Reading: Mass Adoption? NEAR Protocol Sees Over 12 Million Unique Addresses In 30 Days According to Martinez, this pattern indicates a continuation of the downtrend until the right shoulder is broken, meaning that the ChainLink price would have to break above the $20 level, the top of the right shoulder, to invalidate this scenario. If this scenario is as predicted, ChainLink could face a 45% correction. Martinez previously highlighted the likelihood of such a correction if LINK were to break below the $12.70 support level. The token’s price might retrace significantly in this bearish scenario, potentially reaching as low as $6.60. Notably, these levels were last witnessed in September 2023, before the commencement of the overall market uptrend that began in November of the same year. Key Levels For LINKs Price Recovery Another analyst, Crypto Ambrosio, presents similar downward scenarios for the ChainLink price in a recent analysis of key indicators. The analyst suggests that if the 20-week exponential moving average (EMA), depicted by the yellow line in the chart above, remains above the current price action, it would serve as a notable bearish signal for the token. However, breaking above this indicator situated at $14.75 would invalidate this bearish outlook. Additionally, Crypto Ambrosio noted a downtrend pattern in the Relative Strength Index (RSI), further supporting the notion of a new downtrend for ChainLink. To counter these bearish signals, it is crucial for LINK to hold the $12 support level, as noted by the analyst. Ambrosio also believes that if ChainLink forms a Falling Wedge pattern and breaks the resistance at $15, it could signal a bullish reversal and pave the way for further price recoveries toward its yearly high of $22.89, reached in March. Related Reading: Bitcoin Starts July On A Bearish Note, Will CPI Data Change The Narrative This Week? The token must overcome key upper resistance levels while trading at $13.28 to initiate a potential price recovery. Upon analyzing the LINK/USD daily chart, the token will likely encounter its first significant challenge at the $13.52 price level, which has acted as a resistance for the past two months. Moreover, to invalidate the extension of the bearish scenario and surpass the 20-week exponential average, the ChainLink price would need to surpass and consolidate above the $14.38 resistance level. Featured image from DALL-E, chart from TradingView.com
In recent months, the Chainlink price hasn’t quite been able to replicate the bullish strength it showed at the start of the year. And the past week was a prime example of the coins recent struggles, as the bulls failed to completely stamp control over the last seven-day period. However, it appears that the LINK price inconsistencies might be coming to an end soon, as a popular crypto analyst has identified a bullish pattern on the tokens price chart. How LINK Price Could Soar 48% To Reach $19 Prominent crypto analyst Ali Martinez has shared via a post on X an exciting prognosis on the future trajectory of the Chainlink price. According to the crypto pundit, the cryptocurrency, which has largely struggled, could be set for a price turnaround over the next few weeks. Related Reading: Analyst Says XRP Remains Strongest Compared To Bitcoin And Ethereum, Heres Why The rationale behind this bullish projection is the formation of an inverse head and shoulders pattern on the LINK four-hour price chart. The inverse head and shoulders formation is a technical analysis indicator that features a head (a lower low) in between two shoulders (usually a lower low and a higher low). This chart formation whether in the normal or inverse form is a significant indicator for identifying trend reversals. Specifically, the inverse head and shoulder pattern suggests a shift from a bearish to a bullish trend when the price breaks the neckline, an imaginary line that runs through the peaks of the troughs. Martinez noted in his post on X that the price of Chainlink could make a run towards the $19 mark over the next coming days. However, the cryptocurrency must break above the neckline around the $15 level, as shown in the chart above. A rally to the $19 mark would represent an almost 50% price leap from the current price. And a return to this price level would be most welcomed by the altcoin’s investors, having spent the last two months beneath it. Chainlink Price At A Glance As of this writing, the Chainlink price has jumped slightly above $13.5, reflecting a 3.6% increase in the last 24 hours. However, this price gain is not significant enough to wipe the tokens loss over the past seven days. Related Reading: Toncoin Under Pressure As TON Price Falls Below 100-Day SMA, $6 Looms According to data from CoinGecko, the LINK token experienced a 3% decline in value in the past week. Nevertheless, the cryptocurrency still ranks among the top 20 largest assets in the sector, with a market cap of more than $8.2 billion. Featured image from Unsplash, chart from TradingView
Chainlink (LINK), th dcntrlizd orcl ntwork powring smrt contrcts, finds itslf t criticl junctur. A rcnt nlysis by crypto trdr WHALES_CRYPTOx highlights potntil bullish brkout, whil currnt mrkt sntimnt lns towrds brish continution. On th $LINK chrt, WHALES_CRYPTOx idntifid bull flg pttrn forming just blow crucil rsistnc zon round $17.4. […]
The price of Chainlink has mostly struggled in the past few weeks, mirroring the stagnant condition of the general market. Interestingly, investors seem motivated to keep faith in the altcoin rather than be discouraged by the sluggish price action observed in recent weeks. According to the latest on-chain revelation, investors appear to be shifting to a long-term holding strategy, with a focus on the future promise of the Chainlink token. This leaves the question could the LINK price be primed for a rally? $110 Million Worth Of LINK Leave Centralized Exchanges According to the latest on-chain observation, the Chainlink token appears to be undergoing an accumulation trend, with investors moving their assets from centralized exchanges. Latest data from IntoTheBlock shows that approximately 8.7 Million LINK tokens (worth about $110 million) have been withdrawn from exchanges in the last two weeks. Related Reading: Analyst Predicts 2,750% Celestia (TIA) Price Explosion To $188, Heres The Roadmap This observation is based on the Netflows metric, which tracks the difference between the amount of tokens that are transferred in and out of centralized exchanges. When the value of this metric is negative, it implies that more assets are leaving than entering crypto exchanges. Conversely, a positive value of the Netflows metric indicates that more assets are flowing in than out of exchanges. While it is difficult to unravel the rationale behind the increased outflow of Chainlink tokens from exchanges, the exodus of massive LINK amounts signals a shift in investor sentiment. Specifically, the direction of the funds movement suggests an increase in investor confidence, as they appear to be moving their tokens away from trading platforms. IntoTheBlock said in the post: Such activity is typically associated with an accumulation phase, indicating that investors are moving $LINK off exchanges and into long-term holdings. A corroborating data point came from another blockchain firm, signaling major accumulation by major Chainlink stakeholders. According to Santiments data, investors holding between 10,000 – 1,000,000 coins have added 9.2 Million LINK since June 24. This brings the holdings of this investor cohort to 207.29 million coins, an 8-month high. Chainlink Price At A Glance As of this writing, the price of LINK stands around $12.94, reflecting a 3.4% increase in the past 24 hours. According to CoinGecko data, the Chainlink token is up by 2.5% in the past week. However, this recent show of strength hasn’t been to reverse Chainlinks almost 10% decline in the past two weeks. On a positive note, though, the declining supply of LINK tokens on centralized exchanges could set the stage for a bullish rally for the altcoin. Related Reading: Bitcoin Price Trajectory Remains Bearish, $49,000 Liquidity Zone Looms As Next Downside Target Featured image from Binance Academy, chart from TradingView
Well-known cryptocurrency analyst Crypto WZRD has shared his new evaluation of market trends and trajectories, with a particular emphasis on the Chainlink (LINK) token. In a recent X post, the analyst provided a comprehensive daily technical perspective, revealing the current bearish bar for LINK. The current trend of LINK shows a bearish movement that may […]
The cryptocurrency market witnessed severe bearish pressure over the past week, and the price of Chainlink (LINK) wasn’t an exception. The altcoin has continued to struggle with its torrid form, losing nearly 10% of its value in the last seven days. Interestingly, the bears seem to still be in control at the moment, with the latest on-chain revelation suggesting that there might be further downside for the LINK price over the next few days. Are Chainlink Investors Offloading Their Assets? Popular crypto analyst Ali Martinez revealed in a post on the X platform that huge amounts of the Chainlink token have made their way to centralized exchanges in the past day. This on-chain observation is based on Santiments Supply on Exchanges metric, which tracks the amount of a particular cryptocurrency being held on centralized exchanges. Related Reading: Little-Known But Important Dogecoin Indicator Goes Off, How High Can It Drive Price? When this metrics value increases, it implies that investors are making more deposits than withdrawals of a cryptocurrency (Chainlink, in this case) into centralized exchanges. A decrease in the metrics value, on the other hand, indicates that holders are moving their coins out of the trading platforms. According to data from Santiment, more than 18.77 million LINK (worth roughly $256.2 million) were transferred to cryptocurrency exchanges in the past day. This substantial transfer represents one of the largest single-day movements for the Chainlink token in recent months. Interestingly, a report from SpotOnChain revealed that 21 million tokens were unlocked from Chainlinks non-circulating supply contracts on Friday, June 21. Specifically, the contract transferred 2.25 LINK tokens were sent to the multi-sig wallet 0xD50f More notably, 18.25 million LINK tokens were sent to Binance, the worlds largest cryptocurrency exchange. This significant token unlock presents a case of supply inflation, which can impact the value of the token especially if a sell-off occurs. Moreover, these fund movements can precipitate an increase in market volatility and possibly lead to price fluctuations. Given the magnitude and destination of these transfers, there is a greater likelihood of increased selling pressure, which can drive down the price of LINK. Is A Return To $12 On The Cards? As of this writing, the price of Chainlink is barely holding above $13.6, having declined by more than 3% in the past day. Meanwhile, the altcoin slumped 9% from about $15 to $13.5 over the past week, according to data from CoinGecko. If the recent selling pressure continues, then further decline might be on the horizon for LINKs price. This could see the cryptocurrency make a return to around the $12 price zone for the first time in more than a month. Related Reading: Toncoin Transfer Volume Hits $10 Billion, Social Appeal Soars Nevertheless, the Chainlink token ranks amongst the top 20 largest cryptocurrencies in the sector, with a market capitalization of over $8.27 billion. Featured image from Binance Academy, chart from TradingView
The popular cryptocurrency analyst Crypto WZRD shared his insight and framework on the current market situation and the outlook on LINK. In a recent post on X, the analyst highlighted that LINK is portrayed to have been trading in a state of confusion, as suggested by the indecisive candle. Thus requiring clearer market signals for […]
Chainlink (LINK) is attracting significant attention from analysts and investors as it teeters on the edge of a potential breakout. Despite experiencing a recent dip, with LINK down nearly 6% in the last week, the token has showcased resilience with a 9% gain over the past 30 days, reflecting a complex interplay of market dynamics. […]
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 worlds 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 [...]
The post Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin appeared first on Crypto Breaking News.
Chainlink (LINK) continues to showcase resilience, holding firm within a well-established uptrend as the price consolidates near a critical support level at $15.29. This zone, which has previously acted as a launchpad for bullish momentum, is once again drawing attention as bulls defend it with determination. The current price action suggests that the market is taking a breather, potentially setting the stage for a fresh leg higher. With bullish sentiment gradually building and support holding steady, speculations are whether LINK can capitalize on this consolidation and ignite its next rally toward higher resistance zones. Why Chainlink Bulls Are Still In Control The current price action reveals that Chainlink has resumed its upward movement following a brief and healthy pullback. After testing the immediate support zone and holding firm above the $15.29 level, the bulls have stepped back in with renewed confidence. LINKs rebound suggests that the temporary pause in momentum was likely a consolidation phase rather than a full-fledged reversal, allowing the market to reset before continuing its ascent. Related Reading: Chainlink (LINK) Targets Rebound To $19 But Only If This Key Support Holds One of the standout bullish signals is LINKs recent break above the 100-day Simple Moving Average (SMA). This moving average often acts as a dynamic resistance in downtrends, and a successful close above it suggests a potential trend reversal or continuation of bullish momentum. Such a move typically garners the attention of technical traders, increasing the likelihood of follow-through buying pressure. Further confirmation comes from the MACD (Moving Average Convergence Divergence) indicator, which has now made a bullish crossover and climbed above the zero line. This momentum shift reflects a strengthening buying trend and hints that LINK could be gearing up for a broader breakout. If the current setup holds, LINK may soon challenge higher resistance zones, opening the door for a sustained rally. What Could Derail The Uptrend? While Chainlink shows promising signs of continuing its uptrend, the bullish momentum is still at risk. A failure to hold above the immediate support at $15.29 could invite increased selling pressure and signal a potential shift in sentiment. If bears push the price below this level, a deeper retracement toward the next major support zones is probable. Related Reading: Chainlink Shake-Up: Investors Pull $120 Million From Exchanges Additionally, overbought signals from momentum indicators such as the RSI might suggest exhaustion among buyers if they begin to flash warning signs. A bearish crossover or weakening in the MACD could further confirm waning strength. Traders should also be cautious of broader market volatility or negative macroeconomic developments, which can weigh heavily on sentiment even for technically strong assets like LINK. Keeping an eye on volume and price reaction at key levels will be critical to assess whether the uptrend remains intact or is at risk of faltering. Featured image from Pixabay, chart from Tradingview.com
Chainlink (LINK) ended the volatile week of trading on a clear bearish bias, falling below the $14 level as bearish sentiment controlled the market. LINK found it difficult to hold its ground in the face of general market volatility. The token started the week trading higher at prices around $15 but soon came under intense […]
Chainlink (LINK) is riding high within an uptrend move after bouncing from a new support area, a move that has followed the important breach above the critical barrier level. Soon after LINK managed to break past this resistance, it performed a detailed retest of the level, thereby confirming it as a solid support level. This […]
As the Consensys 2024 conference commences this week in Austin, Texas, the LINK community is abuzz with anticipation over a potential pivotal announcement from Chainlink in collaboration with SWIFT. Speculations are rife that this announcement, set for May 30 during a session on tokenization, could significantly influence LINKs market performance. Chainlink And Swift Partnership Going [...]
The post Chainlink-SWIFT Partnership Update Looms: LINK Is Set To Skyrocket appeared first on Crypto Breaking News.
LINKs double-digit rally is backed by increasing network activity and a bullish technical setup.
Chainlink (LINK) is showing renewed strength as its price moves higher within a well-defined rising channel pattern. After a period of consolidation, LINK has entered a rally mode, forming the channel, a classic signal of sustained upward movement. This technical setup suggests that the bulls are firmly in control, and unless a major shift in sentiment occurs, the uptrend could continue in the short to mid-term. Chainlink Breaks Above 200 MA: Bullish Momentum Builds On M30 In an X post, crypto analyst Thomas Anderson highlighted that Chainlink is exhibiting notable bullish momentum on the 30-minute (M30) timeframe. According to Anderson, LINK has successfully broken above the 200-day moving average (marked in red on the chart), a significant technical milestone that often signals a shift in market sentiment. At the time of his post, LINK was trading around $15.560 and was actively forming an ascending channel, a bullish price pattern characterized by consistently higher lows and higher highs. Related Reading: Chainlink Holds Strong At $15.29 Support Is A New Breakout Imminent? Anderson noted that the current price structure reflects sustained buying interest, with the Relative Strength Index (RSI) sitting comfortably at 64.23 just below overbought territory, indicating healthy momentum. Additionally, the MACD (Moving Average Convergence Divergence) indicator is in positive territory, further reinforcing the strength of the ongoing uptrend. However, he cautioned traders to remain vigilant as the price approaches the upper boundary of the ascending channel. This zone could act as a short-term resistance level, triggering a pullback or consolidation phase before further upside. Overall, the outlook for Chainlink on the M30 chart remains bullish. LINK Flips Bearish Structure On Daily Timeframe A crypto analyst @Whales_Crypto_Trading shared a bullish outlook on LINK, noting that the asset is currently breaking out of a descending channel on the daily timeframe. This long-standing pattern had previously kept LINK locked in a downward trajectory, but the recent price action suggests that momentum is shifting in favor of the bulls. A breakout from this structure is typically seen as a strong technical signal, indicating the potential for a significant trend reversal. Related Reading: Chainlink Flashes Daily Buy Signal Breakout Next? According to the analyst, a complete descending channel pattern suggests that Chainlink is no longer confined in a bearish trend and may now be positioned for a substantial upside move. With market sentiment showing early signs of turning positive, the breakout could mark the beginning of a new bullish phase for LINK, supported by improved technical indicators and increasing volume. He concluded by stating that this breakout sets the stage for a massive rally, with $28 identified as the next major target. Reaching this level would represent a strong recovery and a clear signal that bulls have regained control. Featured image from Freepik, chart from Tradingview.com
Crypto analyst CrediBULL Crypto recently warned that Chainlink (LINK) could experience a 50% to 60% drop in its price. However, based on his explanation, LINK holders may not have cause to worry as such a price drop is part of the crypto tokens growth. Why Chainlink Will Experience A Price Drop CrediBULL Crypto explained in an X (formerly Twitter) post that a 50-60% drawdown is normal, natural, and healthy given that Chainlink has experienced ten months of up only and a 4x rally. The analyst expects this price drawdown to last about two to three months and suggested that Chainlink could see brief price surges, but that doesnt invalidate the current bearish trend. Related Reading: Crypto Analysts Reveal Sub-$1 Altcoins Set To Outperform In The Bull Run In a video posted on his YouTube channel, CrediBULL Crypto further explained why he is so confident in shorting Chainlink. He alluded to the rise in the crypto tokens open interest and claimed that many levered players entered Chainlink on the pump to a major resistance level. He expects that those investors who opened longs will likely begin to close their positions as soon as Bitcoin experiences a pullback and the crypto market starts bleeding again. The crypto analyst added that these investors will capitulate at the lows, which will bring Chainlinks price to the range lows. CrediBULL Crypto claimed that this move will bring LINK back down to $11.96, about a 30% drop from its current price levels. Based on this, he revealed that he will be looking to short Chainlink around $16, which is the likely level for rejection. Same Expectations For Meme Coins CrediBULL Crypto also expects meme coins to experience a significant price drawdown, given the parabolic rally they have enjoyed since the beginning of the year. Meme coins Dogwifhat (WIF) and Pepe (PEPE) have been the most significant year-to-date (YTD) gainers among the top 50 crypto tokens, with price gains of over 1,400% and 500%, respectively. The crypto analyst warned that some major meme coins have already seen their tops and will likely experience significant declines. In the YouTube video he posted, he also gave insights into how low Dogecoin, WIF, and Pepe could drop. Related Reading: Crypto Expert Willy Woo Predicts Bitcoin Has Room To Run Here Are The Drivers For Dogecoin, he predicts that the foremost meme coin could drop to as low as $0.10. However, CrediBULL Crypto noted that he cant short Dogecoin yet because he expects a relief pump to $0.18, the range he is looking to open a short position. Meanwhile, he predicts that WIF could drop to as low as $1.6, revealing that he will be looking to short it at $3.90 because he expects the meme coin to enjoy one last push to the upside before dropping to the downside. CrediBULL also predicts a significant price decline for PEPE. He claims the meme coin could experience a drawdown of as much as 60% since it recently hit a new all-time high (ATH). Featured image created using Dall.E, chart from Tradingview.com
After weeks of consistent buying pressure and bullish sentiment, Chainlink (LINK) is now facing a critical moment. The price failed to reclaim the $18 resistance level and has since dropped more than 16%, showing signs of weakening momentum. This recent rejection has sparked concerns among investors and traders, as downside risk intensifies in the short term. Related Reading: Cardano Whale Activity Spikes 80 Million ADA Added In 48 Hours Top crypto analyst Ali Martinez shared a technical analysis pointing to a potential retracement toward lower demand levels. According to Martinez, the recent failure to break above key resistance may trigger further selling pressure, especially if broader market conditions remain uncertain. He suggests that LINK appears to be losing its bullish structure and could be preparing to revisit lower support levels before any meaningful rebound. Chainlinks current position highlights a shift in sentiment, as bulls struggle to hold key zones. While the broader market remains relatively stable, LINK’s inability to maintain higher levels could signal an early sign of deeper correction if volume and momentum do not pick up. With volatility returning to the altcoin space, the coming days will be decisive for Chainlink. Holding above interim supports will be key if bulls want to regain control and avoid further losses. Chainlink Struggles As Momentum Fades: Downside Risks Grow Chainlink (LINK) is showing signs of exhaustion after weeks of upward movement, now trading under mounting pressure as the market grapples with renewed volatility and global financial uncertainty. Bulls remain active, defending key demand zones and continuing to call for a breakout, but fading momentum and growing fear are starting to weigh on sentiment. The failure to breach the $18 resistance level marked a turning point. Since then, Chainlink has slipped over 16%, losing critical support zones and entering a vulnerable technical position. According to Martinez, this rejection could be the start of a deeper correction. Martinezs analysis suggests that LINK is now poised to revisit the $10 level a psychological and structural support that aligns with historical price behavior. The next few trading sessions will be crucial. If bulls cant reclaim higher levels or at least stabilize price action above $14, the selling pressure could accelerate. Adding to the uncertainty is a broader lack of clarity in global markets, with investors closely watching central banks, inflation data, and geopolitical developments for guidance. While some traders are still positioning for a bounce, the current structure points to caution. Chainlinks performance in the coming days could either confirm a local top or offer a high-risk, high-reward entry point if support holds and momentum returns. Either way, the $10$12 range may soon be tested, and how LINK responds there will define its next major trend. Related Reading: XRP Flashes Bullish Signal Technical Indicator Hints At Imminent Rebound LINK Faces Pullback As Buy Pressure Weakens Chainlink (LINK) is under pressure after failing to hold above the $17.50$18 resistance zone. The daily chart shows a sharp rejection near the 200-day SMA (currently at $17.79), followed by a 16% drop that pushed LINK below the 200-day EMA ($16). This move confirms a breakdown of bullish momentum and highlights growing downside risk as traders reassess short-term expectations. Volume has picked up during the recent pullback, suggesting active profit-taking or renewed selling interest. The current support zone lies around $14.80$15.00, a region previously tested in late April and early May. If bulls fail to hold this level, the next major support rests closer to $13.20, potentially opening the door for a deeper correction toward the $10 markan area cited by analyst Ali Martinez. Related Reading: Ethereum Faces Resistance Against Bitcoin ETH/BTC Bullish Structure In Question To regain momentum, LINK must first reclaim the $16 zone and flip the 200 EMA back into support. A daily close above both the 200 EMA and SMA would shift sentiment and restore the bullish structure. Until then, traders should watch for continuation signals or further weakness, especially if broader market volatility persists. LINK is in a make-or-break phase, with the next few days likely to set the tone for its short-term trajectory. Featured image from Dall-E, chart from TradingView
Chainlink (LINK) has enjoyed a sharp surge of more than 21% over the past 24 hours. Here’s what data suggests could be behind this rally. Chainlink Has Surprised Crypto Market With Breakout In The Past Day While most cryptocurrency sectors have seen flat or small green returns over the last 24 hours, Chainlink has shown a decoupling as it has observed some sharp bullish momentum in this window. Related Reading: Bitcoin Still Has A Lot Of Room To Run Before Reversal, Says Top Analyst Here is a chart that displays how LINK’s recent performance has looked like: With this sudden burst, Chainlink has touched the $16.7 mark for the first time since the crash during the first half of April. While the asset has now retraced a major part of this plunge, it still hasn’t made a full recovery. Should LINK’s bullish momentum continue, though, it may not be too long before the cryptocurrency can reclaim the $17.8 level it was trading at just before the crash. As for where Chainlink stands in the wider market, the table below shows that, based on market cap, it’s currently the 15th largest coin. LINK isn’t too far off from Polkadot (DOT) now, so it’s possible that if the price rise continues, the coin will dethrone DOT and take over the 14th spot on the list. Now, what could be the reason for Chainlink’s sudden decoupling from the rest of the market? Data from the on-chain analytics firm Santiment may perhaps provide some hints. The Total Number Of LINK Whales Is At A 6-Month High Now As pointed out by Santiment in a post on X, Chainlink investors holding 100,000 tokens or more of the asset in their balance have recently seen their address count increase. This cutoff is equivalent to around $1.67 million at the current LINK exchange rate. Investors with holdings this large are popularly referred to as whales. Whales can be influential entities in the market because they can move a large amount of volume in a short span of time. As such, their behavior may be worth monitoring. From the graph, it’s visible that Chainlink’s total number of whale addresses has hit 564 after the latest rise, which is the highest the metric has been since October of last year. This increase in the number of whales on the network may be partially behind the surge that LINK has just seen. In the same chart, the analytics firm has also attached the data for another indicator: social dominance. This metric tells us about the share of cryptocurrency-related social media discussions that LINK occupies right now. Related Reading: XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? This indicator has shot up alongside this rally, implying the interest around the coin has spiked. Historically, such a rise in attention has been a bearish sign for the asset, so it remains to be seen if these high values will be maintained. “If social dominance calms and FOMO doesn’t take over, bullish conditions are ahead,” notes Santiment. Featured image from iStock.com, CoinMarketCap.com, Santiment.net, chart from TradingView.com
World Crypto Global opens the door to digital freedom for everyone.
Manage your free WCG Coins securely—where simplicity meets global accessibility.
FREE CRYPTO COINS
AVAILABLE FOR RESERVATION
ALREADY ALLOCATED
No fees. No catch. Your crypto journey starts here.
World Crypto Global
