Future

Chainlink

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-aims-for-recovery-after-recent-price-drop/" data-wpel-link="internal">Chainlink Aims for Recovery After Recent Price Drop</a> 
<a href="https://coin-turk.com/piyasa-dusus-yasarken-bu-altcoin-yine-yukselise-gecti" data-wpel-link="internal">Chainlink</a> (<a href="https://coin-turk.com/balinalarin-akin-ettigi-bu-altcoin-en-az-yuzde-57-yukselis-potansiyeli-ile-gundemde" data-wpel-link="internal">LINK</a>) confirmed its downward trend in mid-March but is now looking to recover its losses. The altcoin is expected to receive support from investors who have suffered significant losses in the last two days, potentially aiding in its recovery. 
<h2 style="text-align: justify" id="chainlink-comments">Chainlink Comments</h2> 
<a href="https://en.coin-turk.com/chainlink-link-holders-under-strain-an-in-depth-analysis/" data-wpel-link="internal">Chainlink</a>‘s price has seen a 30% fall, and <a href="https://en.coin-turk.com/chainlink-link-surpasses-20-mark-whats-next-for-its-price/" data-wpel-link="internal">LINK</a> investors appear to want to minimize their losses. Their intentions can be associated with sales they initially did not want to make. 
This situation could arise from the classification of investors trading on the network according to their profitability. Profitable addresses only indicate 15% of all participants, while 85% are either at a loss or breaking even. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-340491" src="https://coin-turk.com/wp-content/uploads/2024/04/85-link-coin-turk-com.png" alt="" width="750" height="399"> 
Investors at a loss or breaking even might avoid selling to try to regain their losses. 
In the last four days, nearly 100,000 LINK addresses, which represent about 14% of all investors, have lost their profitability, supporting this situation. More than 50% of LINK investors were at a loss as of the time of writing. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-340492" src="https://coin-turk.com/wp-content/uploads/2024/04/yuzde-50-link-coin-turk-com.png" alt="" width="704" height="449"> 
Due to this situation, these investors might exert pressure on the market for a price recovery, potentially triggering a movement that could once again raise Chainlink’s price to resistance levels. 
<h2 style="text-align: justify" id="the-future-of-link">The Future of LINK</h2> 
Chainlink price dropped to $11.45 today, the lowest in 24 hours, which could be seen as proof of the recurring descending triangle. Additionally, the $17 support line remains a significant resistance level. 
For LINK’s price to continue rising and eventually break out of the descending triangle, it first needs to surpass these levels. As of writing, LINK is trading just below $14, with key resistance levels at $14.62 and $15.69. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-340493" src="https://coin-turk.com/wp-content/uploads/2024/04/15-69-link-coin-turk-com.png" alt="" width="744" height="319"> 
If it can surpass and then convert these levels into support, LINK could see a 17% increase, potentially reaching $17. 
On the other hand, if this price movement does not occur, Chainlink’s price increase could reverse from the $16 level, leading to a decline. Moreover, if the downward trend intensifies and the $14 or $13.55 levels are clearly lost, the bullish thesis could become invalid. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-aims-for-recovery-after-recent-price-drop/" data-wpel-link="internal">Chainlink Aims for Recovery After Recent Price Drop</a></h5>

Chainlink Aims for Recovery After Recent Price Drop

Inhaltsverzeichnis

COINTURK NEWS

Weitere Artikel, die am 16. Apr. 2024 veröffentlicht wurden

Why Did the Bitcoin Price Drop Today? Bulls Gear Up for Recovery Before BTC Halving

Exploring Bitcoin’s Potential for Major Price Movements

New AI Algorithm to Diagnose Diseases with Expert Scientific Knowledge

Bitcoin mining stocks continue to slump ahead of halving

LBank Unveils Its Weekly Listing Report, 15th April 2024

Prospects of Hong Kong’s Ether, Bitcoin ETFs Striving for $500M Success Mark

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!