Notable

Chainlink

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlink-sees-remarkable-growth-with-notable-price-increase-and-whale-activity" rel="noopener noreferrer nofollow">Chainlink Sees Remarkable Growth with Notable Price Increase and Whale Activity</a><br></p>
<p style="text-align: justify">Chainlink, holding the twelfth spot among cryptocurrencies, has seen its value soar by 45% in just two weeks, peaking at $19.79 from a previous $13.6. This rise marks a standout performance for the digital asset in February 2024. Despite this sharp increase, Chainlink’s price movement has recently shown signs of leveling out, hinting at potential market stabilization.</p>
<h2 id="chainlink-s-market-movement-analyzed">Chainlink’s Market Movement Analyzed</h2>
<p style="text-align: justify">The price of Chainlink has been demonstrating a horizontal trend lately, possibly suggesting a period of market consolidation following its significant uptick. While <a href="https://en.bitcoinhaber.net/bitcoins-resurgence-a-strong-start-to-2023" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price surged past the $48,000 mark, Chainlink’s price action remained relatively flat. Technical analysis of the 4-hour chart suggests a flag pattern is forming, which is often a continuation sign within an ongoing uptrend. This could hint that Chainlink is gathering strength for another upward move.</p>
<p style="text-align: justify">Diving into Chainlink’s market behavior further, a recent analysis by Intotheblock points to a buildup of Chainlink by significant holders. This accumulation could be a precursor to further price escalations.</p>
<h2 id="whale-transactions-signal-market-confidence">Whale Transactions Signal Market Confidence</h2>
<p style="text-align: justify">A notable event in the Chainlink network involved a cryptocurrency whale transferring an immense volume of Chainlink, equivalent to $83.6 million, from Binance to a set of new wallets. This transfer involved over 4.5 million LINK tokens. Such massive transactions often reflect growing confidence and interest in the cryptocurrency among influential market players.</p>
<p style="text-align: justify">Should Chainlink’s price break through the current sideways trend, there is potential for the price to extend its recovery, possibly reaching new heights of $20.5 and then $23. The actions of the whale, along with the recent price rally and consolidation phase, underscore the heightened activity and speculation surrounding Chainlink’s market trajectory.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/chainlink-sees-remarkable-growth-with-notable-price-increase-and-whale-activity" rel="noopener noreferrer nofollow">Chainlink Sees Remarkable Growth with Notable Price Increase and Whale Activity</a></h5>

Chainlink Sees Remarkable Growth with Notable Price Increase and Whale Activity

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