Chainlink has been leading the headlines thus far this year after scoring a series of partnerships that have helped it solidify the utility of its native token, LINK. The constant announcements of new startups using its technology have played an important role in the price of this altcoin.
The decentralized oracle token rose by nearly 200% between the first three months of 2020 to hit a new all-time high of $5. But as COVID-19 began causing havoc in the global financial markets, LINK took a massive nosedive all the way down to $1.5.
The downturn did not stop retail investors from trying to get a piece of this cryptocurrency. Demand for Chainlink continued rising allowing its price to recover all the losses incurred during March’s Black Thursday.
Chainlink’s Price Action Has Been Extremely Volatile. (Source: TradingView)
Now, a prominent analyst believes that LINK could be preparing to retest the recent all-time highs.
Chainlink Seems Poised for a Bullish Impulse
Michael van de Poppe, a full-time trader based in Amsterdam, explained that Chainlink is sitting at a pivotal point in its trend that would likely determine where it is headed next. The decentralized oracle token is trading within a narrow range that is defined by the $3.40 support and the $3.75 resistance level.
An increase in the buying pressure behind LINK that allows it to break above resistance may be followed by a move towards $4.10. But if the demand continues rising, van de Poppe believes that this altcoin could possibly test the next resistance barrier that sits between $4.60 and $4.80.
Chainlink Sits Between Two Major Barriers. (Source: Twitter)
Nonetheless, the renowned analyst affirmed that a downward impulse below the $3.40 support level could put in jeopardy the bullish outlook. Under such circumstances, the sell orders behind LINK may pile up pushing its price down to the next demand wall at $2.90
Strong Support and Resistance
IntoTheBlock’s “In/Out of the Money Around Price” (IOMAP) model adds credence to the importance that Van de Poppe puts into the $3.40 support and the $3.75 resistance level.
This fundamental index estimates that the bulls may face strong resistance around $3.78 where roughly 11,800 addresses bought more than 11.65 million LINK.
On the flip side, the IOMAP shows that around $3.45 is also an important level to watch out for. More than 4,230 addresses are holding almost 17.3 million LINK around this price level.
Such a massive supply barrier could make it difficult for the bears to take control of Chainlink’s price action.
Chainlink’s In/Out of the Money Around Price. (Source: IntoTheBlock)
Given the significance of the trading range between $3.40 and $3.75, this area can be considered a reasonable no-trade zone due to the inability to determine in which direction the trend will result.
Once a break of support or resistance is confirmed, one could take into consideration Van de Poppe’s targets.
Chart from Unsplash origin »
A low-cost multichain token is gaining ground in the crypto world, challenging well-known platforms like Chainlink and Avalanche. Despite its modest price under $0. 045, this token shows promising potential to outperform its competitors.
The crypto sphere is abuzz as pivotal tokens make headline-worthy moves. Chainlink has just released 18. 75 million $LINK tokens, yet its price holds steady, a testament to the token’s enduring resilience.
The crypto landscape is teeming with excitement as pivotal tokens make striking moves. Chainlink has just liberated 18. 75 million $LINK tokens, yet its market price remains unwavering, underscoring the token’s robustness.
After reaching an all-time high of $19. 20 on August 14, the Chainlink token now trades lower after losing more than 50% in value in just over a month. The token, which briefly overtook Bitcoin Cash as the fifth-ranked crypto in market capitalisation terms, was ranked 9th on Markets.
Криптовалюта Chainlink (LINK) продолжает двигаться по восходящей траектории. Несколько дней назад токен смог обойти Bitcoin Cash по капитализации и пробился в первую пятерку крупнейших цифровых валют.
Chainlink’s native LINK token pushed above $14 this week, as the token’s volume surpassed that of BTC on Coinbase. The rally is believed to have been a massive short squeeze...
Chainlink has had a good year so far. The digital coin’s performance this year has been so immense that, many crypto experts have called it one of the most profitable assets in the cryptocurrency market alongside Bitcoin, the biggest digital coin.
Chainlink has made quite a stir in the cryptocurrency world. Its native token, LINK, has been one of the best performing crypto-assets in 2020. In fact, LINK hit an all-time high on 4 March after the The post Chainlink's retail investors gain traction as whale concentration falls appeared first on AMBCrypto.
Chainlink stole the cryptocurrency market spotlight after the wild price action it has gone through so far this year. The decentralized oracle token surged nearly 200 percent since the beginning of 2020 to hit a new all-time high of $5 in early-March.
Chainlink has beaten bitcoin while emerging as one of the most profitable assets in the cryptocurrency, as well as the traditional market, in 2020. Demand for Chainlink’s LINK token has gone up after a US-based venture capital firm has backed its use to offer collateral to dwindling stablecoin DAI.
Fundamental Indicators for the LINK token such as Github dev activity and Google Trends have trended strongly upwards over the past several months. Technicals, however, have flipped bearish with the price of the token falling ~50% in the last month.
Chainlink’s native token LINK was among the biggest gainers as a majority of assets in the crypto market plunged deeply earlier this week. The eleventh-largest cryptocurrency beat the bearish odds to grow by more than 40 percent since February 26.
Set Protocol, a DeFi-native investment platform, has added a new token set that rebalances between Chainlink’s LINK token and stablecoin USDC depending on the former’s daily Relative Strength Index (RSI).
On-chain metrics for the LINK token, Github dev activity, and Google Trends all show a strong or continuous uptick in activity over the past several months, which supports the on-going bullish rally.
In this article we will discuss about ChainLink’s partnerships, and their impact on its native token – LINK’s price growth. ChainLink is the company behind LINK cryptocurrency which recently made new all time high on all exchanges.
LINK is one of the TOP 20 cryptocurrency by market cap, listed on all major exchanges including Binance and Coinbase. LINK is the native token of ChainLink – A reference data solution provider for smart contract implementation in real businesses and events.
In the latest DeFi launch, money market protocol Aave will gather off-chain pricing data via the decentralized oracle services of Chainlink. LINK token holders will also be able to earn interest with Aave.
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).
Some $600 million worth of paper value Link tokens have vanished amid what appears to be continuous selling by the Chainlink team. The 2017 ICO-ed Chainlink token, which back then...
The post Half a Billion Wiped Out as Chainlink Devs Dump appeared first on Trustnodes.
Litecoin halving is only a day away and the Litecoin Foundation is getting ready for the big event. One significant mark that was expected as the halving approaches is a significant rise in the price of LTC, the organization’s native token.
The cryptocurrency markets went into freefall as Bitcoin dropped from $13,063 to $11,497, an 11. 6 percent drop over the course of 19 hours. The altcoin market saw even greater damage, with the average altcoin losing 12.
Coinbase Announces Chainlink (LINK) Chainlink (LINK) got major public attention when Coinbase made its first announcement regarding the token on Wednesday, June 26, 2019. Coinbase had mentioned in that announcement that the token will be listed on one of Coinbase’s products, the Coinbase Pro.
In a blog post published on June 26, 2019, cryptocurrency exchange Coinbase Pro announced that it had added support for Chainlink (LINK) digital token. Coinbase Pro Welcomes LINK Coinbase Pro users will now be able to trade LINK cryptocurrency, the U.
The bitcoin price is up 234 percent since January, even despite Wednesday’s drop. But while mainstream media scramble to explain bitcoin’s rise, one cryptocurrency has quietly outperformed every digital asset in the top 25.
Link prices surge, up 38. 4 percent The involvement of Google may cement ChainLink’s position Google’s interest is enough to propel Link’s prices to new highs. Consequently, ChainLink may end up dominating the Oracle market.
Chainlink (LINK), a decentralized oracle service that connects smart contracts with data from the real world is doing a roaring trade from the past seven days. Chainlink is trading at $1. 32 USD with 18.
BitTorrent Price Analysis: BitTorrent token recorded significant drops last week moving away from the $0. 00073 level. Although BTT’s price started this week by continuing with drops like seen last week, its price action has since begun to recover indicating that price may have found a point of buying pressure.
BitTorrent Token Price Analysis BitTorrent Token, BTT, is currently recording its seventh consecutive day of price declines. BTT has reached its most oversold levels on the daily RSI since its launch in January indicating that selling pressure is high.
BitTorrent Token (BTT), continues its weak performance as it trades above support at $0. 000736. After numerous tests, trading last week resulted in the price dropping below the level. Numerous tests of a support level serve to weaken the level with fewer buyers to hold the level on each consecutive test.
BitTorrent Token, BTT, has vastly underperformed amid the recent price spike which took place across the cryptocurrency market. After volatile price movements upon listing, BTT has recently started trading in a range, as traders become more comfortable applying valuations to the token.
BitTorrent Token, BTT, had a strong finish to last week increasing from an area of consolidation to above a key resistance point before quickly falling back below it. BTT had been consolidating between $0.
When leaked pictures of Samsung’s latest smartphone went viral, the crypto sphere lost its mind over a singular feature: a built-in cryptocurrency wallet. Samsung would quickly deny rumors that the S10 contained a baked-in hardware wallet.
Seven cryptocurrencies performed way better than Bitcoin during January’s market volatility. HOT, the native token of Holochain project, surprised the cryptocurrency community with a 178% price surge.
ChainLink (LINK) is one of the few tokens to have actually gained in value over the past six months, making it one of the best performing cryptocurrencies. Statistics collected by CryptoCompare, a cryptocurrency price site, show that LINK’s market value increased by 136% from $0.
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.
Most people have started gaining interest in ChainLink`s (LINK) dominance in the market with partnership booming around it. LINK is one of the best Oracle service providers that aims at providing a secure connectivity between smart contracts and real-world business data.
Although Bitcoin (BTC) managed to recover most of its losses over the weekend after tumbling as low as $78,258 on February 28, the premier cryptocurrency has created a massive new Chicago Mercantile Exchange (CME) gap, raising concerns that the digital asset may witness another pullback to the low $80,000 level. Bitcoin Not Out Of The […]
Ethereum (ETH) hit a new yearly low of $2,076 earlier today, further weakening sentiment around the second-largest cryptocurrency by market cap. If Ethereum falls below $2,000, it could trigger additional losses for investors.
The crypto market trended lower last week as US tariffs rocked the market, causing investors to flee to safe-haven assets like Gold. Crypto prices which recovered slightly on Monday and Tuesday continued trending downward as uncertainty looms.
Bitcoin fell 4. 72% over the weekend and another 3. 50% during Monday’s Asian session as tensions driven by Trump’s tariffs have investors derisking their positions. Over the weekend, China responded to Trump’s tariffs by indicating interest in imposing tariffs on US goods, while Canada imposed a 25% tariff on CA$155 billion worth of US goods.
2025 has not started on a strong note for Ethereum (ETH), as the second-largest digital asset by market cap continues to trade below its yearly open. Recent on-chain movements also suggest that crypto whales might be losing confidence in ETH’s potential to deliver outsized returns.
The crypto market trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data The Fed expressed caution around inflation, especially as President-elect Donald Trump’s policies will kick in after his inauguration on January 20 Meanwhile, spot crypto exchange-traded funds (ETFs) logged outflows from Wednesday, January 8 Bitcoin […]
The post Weekly price analysis: prices decline on risk-off sentiments appeared first on CoinJournal.
Cryptos trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data. The Fed expressed caution around inflation, especially as Trump’s policies will kick in after his inauguration on Jan.
