Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
Chainlink’s soaring rally faces a bearish turn as top bulls retreat. Chainlink (LINK) recently experienced a noteworthy ascent, reaching $16.60, only to subsequently plummet by 15%, hinting at a looming bearish trajectory. This corrective phase is linked to waning bullish activities following a month of relative stability. Particularly influential were the top 150 Chainlink bulls, pivotal in the prior 130% surge, amassing 36.07 million LINK.
Chainlink (LINK) Price Analysis: What’s Behind the Recent Correction?
— Duong (@Duong72871837) November 21, 2023
The Chainlink (LINK) price experienced an epic surge in the past weeks, reaching a yearly high of $16.60 ten days ago. Today, it has dropped by 15%.
LINK bulls have been showing consistent movements. After… pic.twitter.com/eMBm3qwW6a
Yet, their recent divestment of tokens totaling $22 million, coupled with an overall reduction in LINK holdings from 732.37 million to 730.81 million, sparks unease. Traditionally, whale sell-offs during a rally serve as a harbinger of a market downturn, reflecting heightened investor concerns. Furthermore, the decline in active Chainlink holdings from 4,610 to 2,150 amidst the recent price dip underscores potential forthcoming losses for Chainlink.
Key Chainlink Levels To Watch – November 22
The market has been in a bullish trend since the beginning of the year’s third quarter. The propulsive expansion from the $7.110 swing low led the price into an overbought state, according to the RSI (Relative Strength Index).
Recently, the market made a reversal after the formation of a new high at $16.580. The reversal is likely due to the selling pressure in the overbought region. According to the SMA (Simple Moving Average), LINKUSD is in the early stages of its emerging downtrend.
Chainlink Key Levels
Resistance Levels: $18.320, $23.540, $28.710
Support Levels: $9.650, $7.910, $4.930
LINK Metrics
Total Market Capitalization: $1.39T
Chainlink Market Capitalization: $7.86B
Chainlink Volume: $0.89B
Market Rank: #12
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
