Kevin

Rekt

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 <p>Chain<a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> was one of the first few altcoins to start rallying even before ‘Uptober’ could commence. From a low of around $5.7, <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> rose by more than 40% to $8.2. However, it applied brakes right after. As chalked out below, <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> is currently at critical juncture from the technical perspective. Over the past year, the $8.3 threshold has acted like a strong resistance, and has rejected <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> from rising further more than a handful of times. Last week, <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> yet again attempted to break through this level, but was unsuccessful in doing so. It has been consolidating around $7.3 ever since.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="519" src="https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp" alt class="wp-image-115354" srcset="https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 1024w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 300w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 768w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 1536w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 380w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 550w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 800w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 1160w, https://cdn.thebittimes.com/images/2023/10/09/01982a91a4666fb2d2009eb7881be53c.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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   LINK/USDT by TradingView
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 <p><strong>Also Read: Crypto: When is the ‘Perfect’ Buying Opportunity?</strong></p>
 <h3 class="wp-block-heading" id="h-link-buy-bias-starts-fading">LINK Buy Bias Starts Fading</h3>
 <p>Data from IntoTheBlock revealed that <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> has been facing hurdles from the on-chain perspective. Over the past week, the new addresses and and the active addresses on the network have shrunk by 27% and 3% respectively. This is indicative of reduced activity of market participants. Among the ones participating, the buy-bias has slowly been fading. At press time, the large holders’ net flow metric had been hovering around in the negative territory. It flashed a value of -142.84k <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a>, indicating that whale sell orders have been surpassing the buy orders lately.</p>
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  <figure class="aligncenter size-full is-resized"><img decoding="async" src="https://cdn.thebittimes.com/images/2023/10/09/7764c7e40f55db7594d1ab041d41e84e.webp" alt class="wp-image-115356" style="width: 100%;height:86px" width="391" height="86" srcset="https://cdn.thebittimes.com/images/2023/10/09/7764c7e40f55db7594d1ab041d41e84e.webp 728w, https://cdn.thebittimes.com/images/2023/10/09/7764c7e40f55db7594d1ab041d41e84e.webp 300w, https://cdn.thebittimes.com/images/2023/10/09/7764c7e40f55db7594d1ab041d41e84e.webp 380w, https://cdn.thebittimes.com/images/2023/10/09/7764c7e40f55db7594d1ab041d41e84e.webp 550w" sizes="(max-width: 391px) 100vw, 391px">
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    Source: IntoTheBlock
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 <p><strong>Also Read: Crypto: XRP, Solana, MATIC Options to Debut on Deribit in 2024</strong></p>
 <p>On the weekly chart, <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a>’s macro downtrend has concluded. However, it is yet to secure a successful retest to fully confirm the breakout. Pointing out another box that is yet to be checked for a macro uptrend to commence, pseudonymous analyst Rekt Capital recently noted on X [formerly Twitter],</p>
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 <p><strong>“Macro Downtrend is broken, but the Accumulation Range High hasn’t been broken yet. Both are needed for a new Macro Uptrend.”</strong></p>
 <p>Thus, until buyers are back into the market, and the accumulation high is not breached, <a rel="noopener noreferrer nofollow" title="LINK" href="https://thebittimes.com/tag/link.html">LINK</a> would find it challenging to renew its up-streak and march past the rejection juncture.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="725" src="https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp" alt class="wp-image-115360" srcset="https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 1024w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 300w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 768w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 1536w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 380w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 550w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 800w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 1160w, https://cdn.thebittimes.com/images/2023/10/09/98551462846d5f9e210c66fe018fea33.webp 1786w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: X
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 <p><strong>Also Read: Crypto: Abu Dhabi is the New ‘Capital of Capital’ Says Kevin O’Leary</strong></p>
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<div class="cs-entry__tags">
 <ul>
  <li>chainlink</li>
  <li>LINK</li>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/chainlink-despite-40-rally-link-at-rejection-juncture-tbt65648.html">https://thebittimes.com/chainlink-despite-40-rally-link-at-rejection-juncture-tbt65648.html</a></p>

Chainlink: Despite 40% Rally, LINK at 'Rejection' Juncture

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