Bitcoin

Chainlink

<p><em><strong>The Chainlink price forecast suggests that despite a period of consolidation, there’s been a notable increase in whale accumulation. This indicates that the LINK price might be gearing up for a significant recovery in the near future.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><p>A bullish breakout from the cup and pattern suggests a significant change in the market. Whale accumulation during a period of consolidation suggests that the LINK price may soon experience another upward movement. The intraday <a href="https://cryptosheadlines.com/binance-witnesses-surge-in-pepecoin-trading-volume-as-crypto-whales-amass-millions/" rel="noopener noreferrer nofollow">trading volume for LINK is $411.5 million</a>, signaling a 29% decrease.</p><h3 id="chainlink-price-prediction-analyzing-recent-trends">Chainlink Price Prediction: Analyzing Recent Trends</h3><p>Chainlink’s native cryptocurrency, LINK, has shown slower recovery compared to the broader market. Despite attempting a breakout from the $20.8 resistance level on Monday, the price failed, suggesting ongoing resistance from sellers. As a result, the price dropped by 7.7% over the week to $19.8. The question remains: Will <a href="https://cryptosheadlines.com/binance-backs-bitcoin-ordinals-potential-launch-imminent/" rel="noopener noreferrer nofollow">Bitcoin’s potential breakout from $70,000 push LINK back</a> into a recovery trend?</p><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/03/cryptosheadlines004-5.png?resize&#61;640%2C307&amp;ssl&#61;1" /></p><p>Chainlink Price Prediction| Tradingview</p><p>A closer look at the daily chart reveals a bullish cup and handle pattern forming amidst the recent recovery. This pattern typically indicates a transition from a downtrend to an uptrend, resembling a U-shaped recovery. On February 2nd, LINK broke out bullishly from the <a href="https://cryptosheadlines.com/analyzing-polygon-matic-prices-and-resistance-patterns/" rel="noopener noreferrer nofollow">pattern’s neckline resistance</a>, breaking free from a nearly two-year sideways trend. This breakout surged the LINK price by 23.7% to $21.6, a level not seen since January 2022.</p><p>Despite the breakout, supply pressure at $20.8 has halted the recovery trend, leading to sideways movement. This suggests a period of post-rally consolidation. On March 5th, LINK exhibited a long-wick rejection candle at the $17.5 support level, indicating buyer accumulation that helped stabilize the market during the dip.</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Binance-labs.png?fit&#61;850%2C480&amp;ssl&#61;1" /></p><h3 id="whale-interest-in-chainlink-signals-potential-price-surge">Whale Interest in Chainlink Signals Potential Price Surge</h3><p>Lookonchain, a prominent Onchain data tracker, recently revealed that eight new wallets withdrew a substantial amount of <a href="https://cryptosheadlines.com/binance-halts-deposits-for-bridging-tokens-linked-to-multichain/" rel="noopener noreferrer nofollow">LINK tokens</a>, totaling 831,160 LINK, valued at around $16.72 million, from Binance within just two days. This significant movement suggests that large investors, known as whales, are increasingly interested in Chainlink, hinting at a <a href="https://cryptosheadlines.com/dogecoins-bullish-outlook-and-potential-integration-with-xs-payment-app/" rel="noopener noreferrer nofollow">potentially bullish outlook</a> for the cryptocurrency.</p><blockquote>It seems that whales are buying <a href="https://twitter.com/search?q&#61;%24LINK&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a>!We noticed that 8 fresh wallets withdrew 831,160 <a href="https://twitter.com/search?q&#61;%24LINK&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a>($16.72M) from <a href="https://twitter.com/hashtag/Binance?src&#61;hash&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> in the past 2 days.Address:<a href="https://t.co/bkikjTpUty" rel="noopener noreferrer nofollow">https://t.co/bkikjTpUty</a><a href="https://t.co/DaBt99fo8O" rel="noopener noreferrer nofollow">https://t.co/DaBt99fo8O</a><a href="https://t.co/h8fjMdXiU4" rel="noopener noreferrer nofollow">https://t.co/h8fjMdXiU4</a><a href="https://t.co/vcBkwRMUJM" rel="noopener noreferrer nofollow">https://t.co/vcBkwRMUJM</a><a href="https://t.co/sD9YDQd4Sj" rel="noopener noreferrer nofollow">https://t.co/sD9YDQd4Sj</a>… <a href="https://t.co/77Y9RqF3t6" rel="noopener noreferrer nofollow">pic.twitter.com/77Y9RqF3t6</a>— Lookonchain (&#64;lookonchain) <a href="https://twitter.com/lookonchain/status/1766516226065629563?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">March 9, 2024</a></blockquote><p>Despite a recent slowdown in the recovery <a href="https://cryptosheadlines.com/altcoin-frenzy-bnb-ada-link-prices-shine-in-bullish-trends/" rel="noopener noreferrer nofollow">trend of LINK’s price</a>, these sizable transactions indicate strategic asset accumulation by whales. This accumulation strategy suggests a strong likelihood of a renewed <a href="https://cryptosheadlines.com/upward-trends-predicted-for-sol-ada-near-link-cryptos/" rel="noopener noreferrer nofollow">upward trend in the LINK</a> price. With sustained buying pressure, LINK’s price could aim to reach the theoretical target of $30, signaling a potential growth of 52%.</p><p><a href="https://cryptosheadlines.com/flokis-price-prediction-amid-uphold-partnership/" rel="noopener noreferrer nofollow">Also Read:   FLOKI&#39;s Price Prediction Amid Uphold Partnership</a></p><h3 id="technical-indicators-point-to-potential-resistance-levels">Technical Indicators Point to Potential Resistance Levels</h3><p><strong>Pivot Levels</strong>: According to traditional pivot levels, LINK’s price may encounter overhead supply pressure at $21.7, $24.15, and $27.4.</p><p><strong>Moving Average Convergence Divergence (MACD)</strong>: A bearish crossover observed between the MACD and the signal line suggests that sellers are currently driving the price movement, indicating a potential downward pressure on the price in the short term.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Chainlink Price Forecast: Whale Accumulation Points to Potential Rally to $30

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