Chainlink could moon to $20 if Bitcoin doesn’t dump

Chainlink could moon to $20 if Bitcoin doesn’t dump
фото показано с : coinjournal.net

2020-7-15 15:24

Chainlink’s price has climbed back above $8.00 and could retest the area around its all-time high of $8.48

Chainlink is trading 12% up today, as it looks to accumulate gains above the $8.00 price level following a brief lull.

As of writing, LINK/USD is trading at around $8.02, with various analysts projecting an upward trend similar to the one that took it to a new all-time high on Monday.

On-chain data supports price growth

The cryptocurrency has amassed over 170% in gains since the start of the year, with its latest surge taking it into the top 10 largest cryptocurrencies by market cap.

Data by CoinMetrics indicates that the number of active addresses has increased significantly to suggest growth in usage, while Sentiment shows that 64% of holders are in profit.

LINK active addresses and number of transactions. Source: CoinMetrics

Chainlink is also benefitting from its use in the DeFi space, with increased demand likely to see the token’s price pump even further.

According to derivatives trader and Phemex.Trade partner, Cantering Clark, the only that will slow Chainlink’s momentum down will be a severe Bitcoin dump hard. In his opinion:

“If Bitcoin does not ruin the party, there is no reason why $LINK does not continue into double digits. It would be conservative even, considering we just broke out of a major range. 20$ + $LINK would not surprise me at all.”

Blackroots.com co-founder, Josh Rager, holds a similar view, stating that LINK/USD needs to hold support above $7.83, to make it possible for a retest of prices around the all-time high area. The support will see bulls rally to $9.00 and bring it closer to double digits.

“As long as Bitcoin holds, I don’t think LINK Marines stop until they get double-digit oracles,” he tweeted and shared the chart below.

LINK/USD price chart and $9.00 target. Source: Josh Rager on Twitter Could a dump be on the way instead?

While many hold a short term bullish sentiment for LINK/USD and LINK/BTC, a section of the market is anticipating a move in the opposite direction.

According to Cole Garner, Chainlink is likely to revisit prices in the $4-5 region. He points to the increased inflow of the token to exchange wallets, potentially a signal that large investors may be preparing for a pump before selling their holdings.

The trader shared the chart below by Glassnode.

Chainlink transfer volume to exchanges has surged over the past few days. Source: Cole Garner on Twitter

The “off the charts” exchange inflows could thus see prices jump to $8.50 before tanking to lows of $6.80 that formed support after the previous rejection above $8. A further decline puts sellers on course for a push to lows of $4.80.

Chainlink is currently the 9th largest cryptocurrency by market cap, surpassing Binance in 10th.

The post Chainlink could moon to $20 if Bitcoin doesn’t dump appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ChainLink (LINK) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $17.68
Капитализация $0 Rank 99999
Цена в час новости $ 8.6642 (-100%)

could chainlink dump doesn bitcoin moon around

Источник: coinjournal.net

could chainlink → Результатов: 49


Фото:

This Key Data Metric Shows One Ultra-Bullish Crypto is About to Plunge

There’s no question that Chainlink has been the most bullish cryptocurrency on the market throughout the past couple of years, posting massive gains throughout 2019 and 2020 These gains allowed it to set fresh all-time highs earlier this year, and it now appears to be navigating back towards these highs Its mounting short-term strength, however, may be plagued by a massive influx of LINK into exchanged over the past day This could suggest that traders […]

2020-6-1 23:00


Фото:

This Crypto Could Soon Invalidate its Multi-Year Bullish Market Structure

Chainlink has seen some immense bullishness throughout the past two years, but its strong market structure dates back even further In spite of the crypto’s ongoing upswing that has led it past $4.00, analysts are still cautious about where it may go next One trader is even noting that he believes it will soon invalidate a key growth curve that has been pivotal to its multi-year uptrend Chainlink’s immense bullishness seen throughout 2019 and 2020 […]

2020-5-21 23:00


Фото:

This Crypto Could See Major Pain as it Risks Breaking Its Macro Uptrend

Tezos has been one of the most bullish cryptos throughout late-2019 and 2020, only seeing momentum rivaled by that seen by Chainlink The cryptocurrency is now at risk of invalidating the technical strength brought about as a result of this uptrend Analysts are noting that it could soon see some serious “pain” as it struggles to hold above a key support level Tezos has seen some serious momentum throughout the past several months that has […]

2020-5-13 23:00


Binance Futures Adding Chainlink Could Spark Major LINK Volatility

The margin trading wing of popular cryptocurrency exchange Binance has announced that they will soon be offering traders access to up to 75x leverage on popular cryptocurrency Chainlink (LINK). The addition of LINK to the platform comes on the heels of the addition of Ethereum Classic (ETC), and just a couple months after they added... The post appeared first on NewsBTC.

2020-1-17 00:00


Chainlink Price Analysis LINK / USD: Bucking The Trend

Chainlink is bullish over both the short and the medium-term  The four-hour time is showing that a bullish inverted head and shoulders pattern has formed The daily time frame is showing that a large inverted head and shoulders patterns with double-digit potential could start to form Chainlink is holding onto recent trading gains as the […] The post Chainlink Price Analysis LINK / USD: Bucking The Trend appeared first on Crypto Briefing.

2019-10-24 17:17


ChainLink (LINK) Price Prediction 2019 – This Could be The Year of The Oracle (Late April Update)

April Update: Technicals LINKBTC daily chart doesn’t bode well for Chainlink. The price action is bearish and it appears Link is heading to the December/January support zone at 7647 sats. It has fallen through the weekly, long-lasting uptrend line (black line on the chart) which is a further confirmation of a intermediate bear trend for […] The post ChainLink (LINK) Price Prediction 2019 – This Could be The Year of The Oracle (Late April Update) appeared first on CaptainAltcoin.

2019-4-25 20:05


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Examining the odds of LINK's price breaching $12 to hit new high

LINK, at press time, was showing signs of a potential breakout, supported by bullish technical indicators Exchange reserves dropped, while long liquidations highlighted strong bullish sentimentThe post Examining the odds of LINK's price breaching $12 to hit new high appeared first on AMBCrypto.

Chainlink nears breakout: Is LINK's surge to $50 coming?

Chainlink preparing for a breakout. Whales are accumulating LINK as end of year nears. Chainlink [LINK] neared a potential breakout as it approached a critical point in the market. At preThe post Chainlink nears breakout: Is LINK's surge to $50 coming? appeared first on AMBCrypto.

Chainlink on the rise: Can LINK break $19 after latest milestone?

LINK showed the potential for upward momentum with growing market interest and strong trading volumes. Network activity increasing, while declining exchange reserves suggested a bullish outlookThe post Chainlink on the rise: Can LINK break $19 after latest milestone? appeared first on AMBCrypto.

Chainlink: How 3 updates may help LINK push past $13 resistance

LINK was gaining momentum, with technical indicators pointing to a possible breakout above $13. Market sentiment has improved, supported by rising network activity and decreasing exchange reserThe post Chainlink: How 3 updates may help LINK push past $13 resistance appeared first on AMBCrypto.