Chainlink

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-price-increase-reflects-investor-behavior/" data-wpel-link="internal">Chainlink Price Increase Reflects Investor Behavior</a> 
<a href="https://en.coin-turk.com/chainlink-hits-two-year-high-as-link-reaches-20/" data-wpel-link="internal">Chainlink</a>’s recent price increase provided insights into the behavior of its holders. Some quickly capitalized on the rise, while others were less fortunate. Regardless of the process, on-chain analysis shows LINK reaching a level it hadn’t in months, indicating a significant move for the token price. On July 21, Chainlink’s price reached $15 for the first time in over 30 days. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-chainlink">What’s Happening with Chainlink?</h2> 
Following this increase, data from Santiment reveals that the network’s Realized Profit/Loss rose to 106.55 million. Realized Profit/Loss on the network indicates whether <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> are selling at a loss or making gains. The sudden rise to 106.88 million in the positive region, as seen with LINK, shows that many investors are profiting from the increase. 
However, the rise in selling pressure caused the price to trade at $14.36 at the time of writing. Therefore, some holders missed the party, and as of this writing, the network’s Realized Profit/Loss is at -13,000, indicating that realized losses are now dominant. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-373024 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/link.webp" alt="" width="1536" height="520"> 
The decline in realized profits could be a good sign for LINK’s price. This is because the selling pressure decreases, allowing the price to stabilize or enter another upward trend. The increase in new and active addresses on the network also supports potential growth. According to IntoTheBlock data, both metrics have increased over the past seven days. 
This increase indicates that a new group of market participants is adopting LINK and adding the token to their portfolios. Similarly, it means that users are continuously interacting with the Chainlink network. As this continues or develops, LINK’s potential for higher trading increases. However, understanding that price movement is not limited to on-chain activities and that technical conditions also play a role adds more confidence to the prediction. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-373023 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/itb-1.webp" alt="" width="1200" height="800"> 
<h2 class="p1" style="text-align: justify" id="link-chart-analysis">LINK Chart Analysis</h2> 
From a technical perspective, LINK’s price could rise after breaking out of a falling wedge. In non-technical terms, a falling wedge is a formation created by two descending trend lines. The falling wedge is mistakenly thought to be bearish because the trend lines are descending. However, this is not the case, as the selling pressure decreases as the price drops. Therefore, it leads to a reversal and a break of the upper resistance. 
In the chart below, LINK managed to break the $14.15 resistance. After a slight pullback, a strong buy signal emerged. This is also supported by a positive MACD. The positive reading of the MACD implies that the momentum is positive. If this continues, Chainlink could first reach $15.10 before testing $16.06. However, if holders continue to incur losses, LINK’s price may not reach these targets. In such a case, LINK’s next move could be a drop to $14.13. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-373022 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/link-grafik.webp" alt="" width="1536" height="868"> 
<ul class="Summary"> 
 <li>Chainlink’s price recently reached $15 for the first time in over 30 days.</li> 
 <li>Realized Profit/Loss <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data shows</a> many investors profited from the increase.</li> 
 <li>Technical analysis suggests potential for further price rise if selling pressure decreases.</li> 
</ul> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/chainlink-price-increase-reflects-investor-behavior/" data-wpel-link="internal">Chainlink Price Increase Reflects Investor Behavior</a></h5>

Chainlink Price Increase Reflects Investor Behavior

Innholdsfortegnelse

COINTURK NEWS

Andre artikler publisert på 23. juli 2024

Veteran investors are accumulating Apecoin, Galaxy Fox, and Sui

CITI Upgrades Coinbase Shares to Buy Rating Amid Positive Regulatory Shifts

Bitcoin, Dogecoin Dip, Ethereum Outperforms As ETH ETFs Capture 20% of BTC ETF Inflows: 'Was This...

Solana ETF's Explosive Potential and Its Future If Approval Takes Place in 2025

Ethereum Foundation Sells ETH Amid Spot Ether ETF Debut

Why I Don't Consider Trading Pepe Right Now — An Ichimoku Deep Dive Into Pepe 🔍

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!