Token

Cryptocurrency

Chainlink

On-Chain Dynamics

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/chainlinks-link-token-holds-steady-as-cryptocurrency-market-bounces-back" rel="noopener noreferrer nofollow">Chainlink’s LINK Token Holds Steady as Cryptocurrency Market Bounces Back</a><br></p>
<p style="text-align: justify">The Chainlink network’s native token, LINK, has maintained a comparatively stable performance during the recent cryptocurrency market upswing. The token experienced a minor price dip from its resistance high, with a current trading value slightly below $20.</p>
<h2 id="testing-resistance-and-potential-correction">Testing Resistance and Potential Correction</h2>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-clings-to-48k-as-market-anticipates-us-economic-indicators" rel="noopener noreferrer nofollow">Bitcoin</a>‘s movement towards a possible correction from its $52,000 level has put the spotlight on LINK’s ability to hold above its $17 support. Earlier, Chainlink’s token enjoyed a substantial recovery, surging 53% in one month from its lower support level to a high resistance point. Yet, encountering resistance led to a slight price regression, coinciding with a key Fibonacci retracement mark.</p>
<h2 id="on-chain-dynamics-and-link-s-market-position">On-Chain Dynamics and LINK’s Market Position</h2>
<p style="text-align: justify">An observed flag pattern on LINK’s 4-hour chart suggests a potential consolidation period could be underway, as buyers gather momentum. Notably, on-chain analysis by Lookonchain indicates a significant withdrawal of LINK tokens from Binance, hinting at possible strategic moves by a single entity or group.</p>
<p style="text-align: justify">As Chainlink’s token navigates the market, any substantial breakout above its current consolidation pattern could signal a robust recovery. Market specialists project that surpassing this barrier might propel LINK’s price upward by 15%. Despite facing resistance-induced setbacks, Chainlink still exhibits notable resilience, with experts watching for signs of an impending price uptick.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/chainlinks-link-token-holds-steady-as-cryptocurrency-market-bounces-back" rel="noopener noreferrer nofollow">Chainlink’s LINK Token Holds Steady as Cryptocurrency Market Bounces Back</a></h5>

Chainlink’s LINK Token Holds Steady as Cryptocurrency Market Bounces Back

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