Chainlink

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-investors-reduce-exchange-activity-as-prices-drop/" data-wpel-link="internal">Chainlink Investors Reduce Exchange Activity as Prices Drop</a><br></p>
<p class="p1" style="text-align: justify">Last month, Chainlink’s (LINK) major shareholders experienced a decline in net flow to exchanges. This means that large altcoin holders sent only a small portion of their assets to exchanges for sale. This process can be related to LINK’s current price performance. At the time of writing, the altcoin was trading at $14.31, and the token value dropped by 21% over the past month.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-link">What’s Happening with LINK?</h2> 
<p class="p1" style="text-align: justify">As LINK’s price dropped, the net flow from whales to <a href="https://en.coin-turk.com/htx-cryptocurrency-exchange-withdraws-application-in-hong-kong/" data-wpel-link="internal">cryptocurrency exchanges</a> also decreased. In the last 30 days, this rate fell by 110%. At the time of writing, the net flow rate of LINK’s major shareholders to exchanges was recorded at -0.06%.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-366140 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/link.webp" alt="" width="1200" height="800"></p> 
<p class="p1" style="text-align: justify">This <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> measures the ratio of cryptocurrency transferred from whales to exchanges to the total net flow of exchanges. A negative value means that only a small portion of large investor assets is sent to exchanges. This can be read as a bullish signal, suggesting that large investors are accumulating and not selling their assets.</p> 
<p class="p1" style="text-align: justify">For LINK holders expecting a rise based on the token’s market value/realized value (MVRV) ratio, now might be a good time to buy. At the time of writing, the MVRV Ratios evaluated over the 30-day and 365-day moving averages were recorded at -3.7% and -1.0%, respectively.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-366141 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/mvrv-1.webp" alt="" width="1536" height="520"></p> 
<p class="p1" style="text-align: justify">This data tracks the ratio between an asset’s current <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market price</a> and the average price of each token obtained for that asset. When its value is negative in this way, the market price of the asset is lower than the average purchase price of all circulating assets. This is seen as a buy signal because it means the asset is trading at a discount based on historical cost.</p> 
<h2 class="p1" style="text-align: justify" id="link-chart-analysis">LINK Chart Analysis</h2> 
<p class="p1" style="text-align: justify">If LINK whales continue to avoid selling and other investors take advantage of the current drop in altcoin value, its price could rise to $15.17. However, if the price decline continues, LINK’s price could fall below $13. On the three-day chart, the $19.25 level acting as resistance caused LINK’s price to face significant selling pressure.</p> 
<p>This process requires LINK to overcome the first resistance level at $15.17, but a three-day close above the EMA 20 average of $15.48 would provide momentum for LINK’s price.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-366139 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/link-yorum.webp" alt="" width="1536" height="748"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/chainlink-investors-reduce-exchange-activity-as-prices-drop/" data-wpel-link="internal">Chainlink Investors Reduce Exchange Activity as Prices Drop</a></h5>

Chainlink Investors Reduce Exchange Activity as Prices Drop

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