WBC247 【보증업체】 가입코드 이벤트 쿠폰

Sebastian Villafuerte — Sat, 05 Oct 2024 23:30:28 +0000

Chainlink is currently trading in a bullish pattern that has been developing for at least seven months, capturing the attention of analysts and investors alike. Many are eagerly anticipating Chainlink to surge during this cycle and finally reclaim new all-time highs. The extended consolidation phase has kept traders on edge, as they await a significant breakout. Renowned crypto analyst Lucky has shared an insightful prediction regarding Chainlink’s potential trajectory. According to Lucky, the key lies in LINK breaking above its current consolidation range, which would set the stage for a strong upward move. He suggests that once this breakout occurs, Chainlink could quickly surge toward a short-term target of $15. With bullish sentiment building around this major resistance level, Chainlink’s price action in the coming days could be crucial in determining its direction. Investors are closely monitoring the market, watching for signals that LINK is ready to break free from its long-standing range and enter a new phase of growth.

Chainlink Price Action Turning Bullish

Chainlink’s price action has been largely bearish since hitting its yearly high in March, with the asset now stuck in a prolonged consolidation phase. However, many analysts believe this consolidation could be nearing its end. One top analyst, Lucky, has recently shared a bullish technical analysis on X, offering an optimistic outlook for Chainlink.

Lucky’s analysis reveals that LINK is trading within a falling wedge pattern, a formation often associated with potential bullish reversals. According to his chart, Chainlink has touched the lower boundary of this wedge three times, signaling strong support, and now appears to be gearing up for a breakout from its yearly consolidation range. He predicts that this breakout could happen as early as October, potentially triggering a surge in LINK’s price. Lucky has set several bullish price targets once Chainlink breaks out of this consolidation phase. The first target is $15, followed by more ambitious targets at $19 and $22. These price levels would represent significant gains from Chainlink’s current price and mark a strong recovery from the bearish trend that has dominated most of 2024. With bullish patterns emerging, investors are closely watching for Chainlink’s next move, anticipating that a major breakout could propel LINK toward these optimistic price targets.

Technical Analysis: Key Prices To Watch

Chainlink (LINK) is currently trading at $11.09 and is testing a key resistance level, the 4-hour 200 moving average (MA) at $11.10, after a 7% surge since Thursday. This level has become a significant hurdle for bulls, as the price has struggled to break above the indicator. For the bullish momentum to continue, LINK must push past this indicator and aim for higher supply zones around $13. However, the current price action suggests that bulls are finding it difficult to gain strength at this critical level. Should LINK fail to break above $11.10 and reclaim the higher resistance, a correction may follow. In that scenario, the price could dip to a lower demand zone, with the next key support level at $9.2. The coming days will likely determine whether LINK can maintain its upward trajectory or see a pullback in price. A successful breakout above the 4-hour 200 MA could signal further gains, while failing to do so may result in a bearish correction.

Featured image from Dall-E, chart from TradingView

도라에몽토토 【보증업체】 가입코드 이벤트 쿠폰

Scott Matherson — Wed, 25 Sep 2024 14:30:40 +0000

Chainlink whales are once again on the move in what seems to be a general reawakening. Large transactions on the blockchain network have ballooned recently, alongside a drastic increase in active addresses, hinting at a notable development. Therefore, in this report, we take a look at the significant increase in whale transactions and active addresses, as well as what could have triggered this burst of interest on the previously muted blockchain.

Chainlink Whale Volumes Rises 295.93%

According to data from the IntoTheBlock website, Chainlink whales are getting active again after a previous drop in activity. This time around, whale transactions consisting of LINK tokens with values of at least $100,000 and above, have seen a notable increase.

On September 22, the number of large Chainlink transactions recorded was only 65, but by September 23, this number had risen to 130. This translates to a 100% increase in the number of transactions. In the same vein, the amount of tokens transacted also surged, but to a larger degree.

Data shows that only 1.86 million LINK tokens were moved by Chainlink whales on September 22. However, this figure rose to 7.28 million tokens by September 23. In dollar terms, Chainlink whales moved $20.71 million on September 22 and $82.01 million on September 23. The total growth during this time came out to 295.93%.

Daily active addresses also saw a significant increase on the network, although to a lesser degree compared to the whale volumes. Active addresses rose from 1,810 addresses to 2,070 addresses, representing a 14.72% increase. This rise in active addressees, coupled with the increase in whale transactions, suggests that attention is, once again, turning to the Chainlink network.

What’s Driving The Recovery?

So far, one notable development seems to be the driving force behind the Chainlink recovery and it has to do with the 21.co Bitcoin wrapper. The company announced that it was adopting the Chainlink Proof of Reserves mechanism for its 21BTC token, which is a wrapped version of Bitcoin that was made available on the Solana blockchain in May 2024.

This move was to enable the company ensure completely transparency with 21BTC, while also tapping into the decentralization, programmability, and investor confidence that already exists in the Chainlink Proof of Reserves program. This will span across the 21BTC offering on both the Solana and Ethereum blockchains.