Despite being one of the most bullish cryptocurrencies from a macro-perspective, Chainlink has seen an intense decline today that has led it to plummet by over 6%.
Today’s downturn marks an extension of that which was first incurred a couple of days ago when LINK tapped highs of nearly $4.00. The strong resistance at this level did prove to be insurmountable and could help fuel further downside in the days ahead.
This comes as one analyst even sets an incredibly low target for the cryptocurrency, suggesting that it could decline as far as $1.00 due to a massive rising wedge pattern that has led it to a high-time-frame resistance region.
Chainlink Shows Signs of Weakness as Analysts Watch Reaction to Key Support
At the time of writing, Chainlink is trading down over 6% at its current price of $3.55, marking a notable decline from daily highs of $3.80 that were set yesterday.
Over a weekly period, the cryptocurrency is showing even greater signs of bearishness, as it has declined from highs of nearly $4.00 that were set just two days ago.
The drop from these highs has led it to severely underperform Bitcoin, as the benchmark crypto is currently trading just a hair below its weekly highs of $7,800.
One popular crypto analyst on Twitter explained that it could soon fall significantly further as it begins pushing below its near-term support.
This downtrend could lead it as low as $2.90 against its USD trading pair, and as low as 40k sats against its BTC trading pair – a regression from its current BTC price of 46k sats.
“LINK: On BTC pair -> broke south, which is not bad after such a move. Levels to hold; 46K Satoshi, holding & test 49K is likely. Losing -> 43 / 40K satoshis are next. On USDT pair -> need to hold $3.45-3.50, otherwise $2.90 is likely,” the analyst noted.
Image Courtesy of Crypto Michael
Could LINK be Poised to Crater to $1.00? This Analyst Thinks So
Another popular analyst recently offered a chart showing a highly bearish path forward for the cryptocurrency, setting a mid-term target at $1.00.
Image Courtesy of il Capo Of Crypto
As seen on the above chart, it does appear that Chainlink is currently trading within a rising wedge that leads it into a high-time-frame resistance zone. A rejection here could be dire, potentially sparking a mid-term downtrend.
This trend could be confirmed if the crypto fails to surmount the resistance within the lower-$4.00 region.
Featured image from Unplash. origin »
WAX, an all-in-one blockchain platform enabling developers to create, sell and trade digital goods, announced today the coming integration of Chainlink’s decentralized oracle network. The integration will allow WAX to securely and reliably access data and resources from outside the EOSIO ecosystem.
Bitcoin's dramatic crash today pulled the collective market cap of the crypto market to a low of $164 billion, even as the king coin's dominance remained intact at 65.8%. This contributed to many altcThe post IOTA, Chainlink, Cardano bleed as Bitcoin's fall torments market appeared first on AMBCrypto.
Nexus Mutual, a peer-to-peer risk sharing mutual built using smart contracts and blockchain technology, announced today it is now using Chainlink’s price reference data contracts for decentralized valuations of its multi-currency capital pool Chainlink’s decentralized oracle network will bring transparent and accurate on-chain valuations to Nexus Mutual’s multi-currency capital pool.
Cryptocurrency prices have slid across the board today, but the market always holds surprises. One leading altcoin in particular has managed to avoid the crash unscathed. Market Downturn Erased 25% Off Altcoins in a Week ChainLink (LINK) not only remained one of the few assets in the green, but actually continued on a small hike as other assets still sank lower.
QANplatform, a quantum-resistant blockchain platform, today announced the planned integration of Chainlink, a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments.
Fresh off expanding the maximum insurance available for crypto assets under its stewardship, Gemini, announced today that clients can now store Chainlink (LINK), Golem (GNT), Numeraire (NMR), Orchid (OXT), and Storj (STORJ) at Gemini Custody, a qualified custodian.
Etherisc, a decentralized insurance protocol, announced today that it has now launched a working decentralized flight insurance Proof Of Concept on Rinkeby, an Ethereum testnet. The demo incorporates reliable data feeds delivered by Chainlink.
Chainlink has announced that it now offers price reference data for more than 25 trading pairs. These kinds of feeds are vital for decentralized finance applications. As of today, Chainlink’s list includes data on 16 Ethereum trading pairs and nine USD trading pairs.
Alkemi, a professional open liquidity network for cryptocurrency, announced today it has integrated with Chainlink to leverage its network of decentralized oracles. Chainlink’s protocol is facilitating trusted marketplaces for obtaining quality oracles, which is quickly becoming the de-facto standard in the Oracle-as-a-Service category.
BetProtocol, a blockchain-powered platform for building betting apps, announced today it will integrate eSports and sports oracles from Chainlink on all of its gaming platforms. Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments.
Synthetix, a platform that enables the creation of on-chain synthetic assets (Synths) on Ethereum, announced today that its integration with oracle service Chainlink is now live. The integration provides decentralized price feeds for a select group of Synthetix’s FX and commodity Synths.
Ontology, a network of public blockchains and distributed collaboration platform with integrated support for ledger accounts and smart contracts, announced today a partnership with Chainlink to integrate its oracle solution for building data-driven smart contracts.
Limechain, a blockchain development and solutions provider, announced today a new developer product that leverages Etherlime, its development framework based on ethers. js and Chainlink, a decentralized oracle provides external off-chain data to smart contracts.
The entire crypto market has turned red today, with Bitcoin (BTC) triggering a slide across most altcoins. But there are two curious exceptions – Chainlink (LINK) and Basic Attention Token (BAT).
The Bitcoin price volatility has returned to remarkably low levels. The leading cryptocurrency remains at almost exactly the same level as yesterday, and altcoins offer a similar scenery. Notable outliers today are Chainlink (5.
The weekend unexpectedly brought some life to Bitcoin, as it jumped by 300$ to stabilize at $8,200 today. Altcoins are generally in the green as well, with surprising gains coming from Bitcoin Cash and Bitcoin SV, up 7% and 15% respectively.
Amberdata crypto APIs now accessible through Chainlink - CryptoNinjas
Amberdata, a crypto/blockchain data API provider, today announced a partnership with Chainlink, the decentralized oracle network providing off-chain data to the multi-blockchain ecosystem.
The cryptocurrency market has found a direction today, and it’s not up. Bitcoin fell below $8,000, losing 3% over 24 hours. Many altcoins are in an even worse shape, rolling back their hard fought gains of the previous days.
The cryptocurrency markets are seeing a small retracement today. Bitcoin continues its low-volatility trading around the $8,400-8,500 level, while altcoins are still pulling back from their previous gains.
ChainLink (LINK) is having an altcoin season of its own – all over again. LINK has been known to move against the trend, staging a similar rally in the second quarter. LINK has now grown more than 49% in a single week, touching $2.
Today Bitcoin has recovered slightly, but the struggle continues. Altcoins are looking much better, as XRP, TRON, ADA and LINK post sharp gains. A full commentary on Bitcoin is below. SEC officially states that Bitcoin is not a security – yes, we know.
Cryptocurrency are flat today, with Bitcoin and most altcoins showing little sign of movement. The most notable exceptions are Chainlink, which is continuing its week of gains, and Tezos. Can exchange supply flows explain price movements? A report published by TokenAnalyst used blockchain analysis to study the effects of coin supplies on prices.
Bitcoin seems to be on its way towards recovery, after a promising start today. The leading cryptocurrency has gained approximately 3%, which puts it well above the $8000 price level. Altcoins are largely following suit, with Tezos and Chainlink gaining above +8%.
Today was a weird day for the crypto markets. For the first time in seeming months, altcoins dramatically outperformed Bitcoin — managing to gain multiple percent on the market leader. While Bitcoin has gained 2.
Chainlink Price Analysis (LINK/USD) Yesterday decline continues today as the market of LINK/USD pair records a down surge. LINK seemed to have succumbed to the selling pressure that has formed a strong bearish trend line over the last 24hrs.
Litecoin (LTC/USD) In today’s cryptocurrencies market performance, most altcoins have succumbed on the bears. One of the world strongest cryptocurrency is today giving out a shaky scenario. LTC/USD pair has recorded a tremendously bearish outlook with a price fall of over 4.
The short and medium-term outlook is in a bullish trend. Traders may consider buying at pullback area. LINK/USD Medium-term Trend: Bullish Supply zone: $4. 00, $4. 50, $5. 00 Demand zone: $2. 00, $1.
QuarkChain integrates Chainlink to improve smart contract experience » CryptoNinjas
QuarkChain, a blockchain-based on sharding technology, announced today it is integrating Chainlink’s oracle technology to create a better smart contract development experience for enterprises and developers.
The short and medium-term outlook is in the bearish trend. Traders may look to take sell positions at pullback areas. LINK/USD Medium-term Trend: Bearish Supply zone: $4. 00, $4. 50, $5. 00 Demand zone: $2.
The short-term is in a bearish trend while the medium-term outlook is in a bullish trend. Traders should look to buy at pullback areas. LINK/USD Medium-term Trend: Bullish Supply zone: $4. 00, $4. 50, $5.
Coinspeaker Chainlink Started Live Trading on Coinbase, LINK Price SkyrocketsCoinbase began trading Chainlink today. LINK is available to trade with the U. S. dollar (LINK/USD) and with Ether (ETH) (LINK/ETH).
The short and medium-term outlook is in a bullish trend. Traders may consider buying at key areas after bearish exhaustion. LINK/USD Medium-term Trend: Bullish Supply zone: $4. 00, $4. 50, $5. 00 Demand zone: $2.
Today’s ChainLink (Link) News The future is automation. It may be banal. Reiterated, it is becoming obvious. But this is the path for efficiency. Ethereum and several clones promise to do the same.
Since entering the crypto space, the Ethereum (ETH) based Chainlink (LINK) has been one of the most hyped projects in the ecosystem. Today, the cries of the cryptocurrency’s community got even louder, with news that technology powerhouse Google is looking to work with the platform in some capacity.
GoChain, a blockchain network protocol, announced today it is teaming up with Chainlink to integrate its oracle services capable of bringing real-world data onto the GoChain blockchain. Smart contracts that offer provably secure access to data feeds, APIs and payments are a critical component in providing enterprise blockchain solutions that are compatible with legacy infrastructure. Chainlink […]
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Today, Hedera Hashgraph and Chainlink announced they will collaborate to integrate Chainlink’s decentralized oracle network with Hedera’s enterprise-grade distributed public ledger.
The creators of Hedera Hashgraph (HBAR) believe their newly announced collaboration with Chainlink (LINK) has the potential to overhaul smart contract writing and herald the next generation of autonomous contracts that can be adopted by mainstream businesses.
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Ocean Protocol, a decentralized data exchange protocol to unlock data for AI, today announced it will be integrating Chainlink, a decentralized oracle network that enables smart contracts to securely access off-chain data feeds.
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Synthetix, a decentralized synthetic asset exchange, today announced that it is working with Chainlink, a leading oracle network, to enable decentralized price feeds across the Synthetix trading platform.
Celer, an off-chain protocol for scaling blockchains, announced today the formation of a strategic partnership with Chainlink in order to bring real-world information to its layer-2 scaling platform.
ChainLink has recently been performing really well in the market, so much so that it managed to briefly break into top 30 of the Coinmarketcap’s list of most valuable cryptocurrencies today. This positive price action which lasted ever since the beginning of last year’s December is showing no signs of stopping, as the token currently […]
The post Chainlink (LINK) surging: Don’t rush into buying, the pump phase is soon over appeared first on CaptainAltcoin.
Today, Wednesday the 9th of January 2019, found several of the top 100 cryptocurrencies in the green as reported by Coinmarketcap. com. The King of Crypto – Bitcoin (BTC) – is currently trading at $4,059 and up 1% in the last 24 hours.
Brave 0. 58 update released Crypto-focused browser Brave was updated to a version 0. 58. 16 today. The latest update brought several new features, including: The ability to import search settings from muon.
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Brave New Coin (BNC), a provider of high-value cryptocurrency market data, has announced today a partnership with Chainlink, a decentralized oracle network that connects smart contracts with real-world data.
The world of financial transactions has had a great shift from the implementation of blockchains technology. Today, this digital economy woke up to the news of a partnership between Wanchain and Chainlink, one that is set to revolutionize the digital space.
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Chainlink, a network provider for reliable, tamper-proof inputs and outputs for complex smart contracts on any blockchain announced today that it has acquired Town Crier, the first working approach for.
Smart contract platform OpenLaw aims to recreate traditional legal agreements on the blockchain. Earlier today, the startup posted online with an explanation of how it was bridging the fiat-crypto divide using decentralized oracle service Chainlink.
FOMO Moments Markets are flat this Sunday; Altcoins still climbing include Bitcoin Gold, VeChain, ChainLink and TenX. Another pullback has occurred as markets failed to hold the $300 billion level.
Chainlink (LINK), the oracle network powering smart contracts across the crypto landscape, is making waves with a recent surge in whale activity. Data reveals $216 million worth of LINK tokens withdrawn from the Binance exchange by a staggering 83 separate wallets, sending the token price on a parabolic trajectory.
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.
Chainlink has registered some drawdown and has recently retested the $14 level. Here’s what might happen if support holds at this mark. On-Chain Data Suggests Resistance Is Thin At Higher Chainlink Levels As pointed out by analyst Ali in a new post on X, Chainlink is currently in a critical on-chain demand zone.
An analyst has pointed out how Chainlink might be breaking out of a bull flag right now, which could suggest a rally toward $20. Chainlink Is Escaping Out Of A Bull Flag Pattern Currently In a new post on X, analyst Ali pointed out a breakout that may be forming in the LINK price chart.
The Chainlink rally has slowed down recently; here’s what the various LINK on-chain metrics look like to see if the surge has hope of a restart. Chainlink Has Registered Some Drawdown In The Past 24 Hours Just during the weekend, Chainlink had been floating above the $16 mark, but winds seem to have shifted for the coin in the past couple of days, as it has registered some drawdown.
