Altcoins News
By Julie Binoche
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Technical Setup: Inverse Head-and-Shoulders Pattern and EMA Crossover. One of the most promising technical setups for Chainlink is the formation of an inverse…
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Exchange Metrics: Mixed Signals but Caution in the Short Term. Looking at exchange data, the signals are somewhat mixed.
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On-Chain Activity: Healthy Growth Amid Consolidation. Chainlink’s on-chain metrics are also showing positive signs, supporting the case for a breakout.
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SuperTrend Buy Signal: A Positive Confirmation. Another bullish confirmation is the recent buy signal from the SuperTrend indicator on Chainlink’s…
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Conclusion: The Path to $17. Chainlink is in a strong position to confirm a breakout above the $15.
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Chainlink (LINK) is showing strong signs of potential growth as it gradually builds momentum after a period of sideways movement. Trading at $15.
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One of the most promising technical setups for Chainlink is the formation of an inverse head-and-shoulders pattern on its 4-hour chart, with the neckline sitting at $15.30.
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However, for this technical setup to be fully validated, Chainlink must break and hold above the $15.30 resistance level.
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Looking at exchange data, the signals are somewhat mixed. Over the past week, exchange reserves have decreased by 1.
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Chainlink’s on-chain metrics are also showing positive signs, supporting the case for a breakout. Over the last 24 hours, transfer volume has increased by 73.
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In the derivatives market, the funding rate for LINK remains relatively low at 0.0090%, indicating that while long positions dominate, there is no excessive speculation or…
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Chainlink is in a strong position to confirm a breakout above the $15.30 neckline, thanks to the alignment of several bullish technical and on-chain indicators.
The Currency Analytics
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