Bitcoin ETF

Resistance

Optimism

Chainlink

Coin

<ul class="news-points">
 <li>Chainlink surges 61% weekly, riding the wave of positive crypto market sentiment.</li>
 <li>Bitcoin ETF anticipation boosts LINK’s market cap, but trading volume dips.</li>
 <li>LINK faces resistance at $11.4 and $12.00 after failing to break $11.26, while MFI signals potential selling pressure.</li>
</ul>
In the recent week, the <a href="https://coinedition.com/tag/Chainlink-LINK/" rel="noopener noreferrer nofollow">Chainlink (LINK)</a> market has shown bullish dominance, gaining more than 61% from an intra-week low of $7.54 to a high of $11.8 before seeing a modest retracement.
The current price increase in Chainlink may be linked to the general optimistic feeling in the crypto market over the past week, fueled by the expectation of Bitcoin ETFs hitting the market soon.
This event has resulted in a significant boost in the price of Bitcoin, which has benefited the broader market. Furthermore, the market capitalization of LINK increased by 1.73% to $6,178,888,812, but the 24-hour trading volume decreased by 3.61% to $768,131,501. Profit-taking by certain investors who have experienced substantial profits in the recent price spike might explain the drop in trading activity.
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><img decoding="async" width="743" height="640" src="https://coinedition.com/wp-content/uploads/2023/10/link-454.png" alt="" class="wp-image-346201" style="aspect-ratio:1.1609375;width: 100%;height:auto" srcset="https://coinedition.com/wp-content/uploads/2023/10/link-454.png 743w, https://coinedition.com/wp-content/uploads/2023/10/link-454-300x258.png 300w, https://coinedition.com/wp-content/uploads/2023/10/link-454-380x327.png 380w, https://coinedition.com/wp-content/uploads/2023/10/link-454-103x89.png 103w, https://coinedition.com/wp-content/uploads/2023/10/link-454-517x445.png 517w, https://coinedition.com/wp-content/uploads/2023/10/link-454-287x247.png 287w, https://coinedition.com/wp-content/uploads/2023/10/link-454-279x240.png 279w, https://coinedition.com/wp-content/uploads/2023/10/link-454-192x165.png 192w, https://coinedition.com/wp-content/uploads/2023/10/link-454-245x211.png 245w, https://coinedition.com/wp-content/uploads/2023/10/link-454-81x70.png 81w, https://coinedition.com/wp-content/uploads/2023/10/link-454-87x75.png 87w" sizes="(max-width: 743px) 100vw, 743px">
 <figcaption class="wp-element-caption">LINK/USD 24-hour price chart (source: <a href="https://coinstats.app/coins/chainlink/" target="_blank" rel="noopener noreferrer nofollow">CoinStats</a>)
 </figcaption>
 </figure>
</div>
However, positive momentum has waned in the previou…
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/chainlink-link-bulls-face-resistance-as-optimism-fades/">Chainlink (LINK) Bulls Face Resistance as Optimism Fades</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Chainlink (LINK) Bulls Face Resistance as Optimism Fades

Coin Edition

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