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<ul>
 <li>ChainLink (LINK) is at a cycle low, potentially rotating after Ethereum (ETH) finds its low, says analyst Michaël van de Poppe.</li>
 <li>LINK shows potential for a bullish reversal against BTC, with key resistance levels at 0.0004480 BTC, 0.0006721 BTC, and 0.0007950 BTC.</li>
 <li>Over a 24-hour period, LINK and ETH showed similar trends, with ETH peaking at 2% growth and LINK slightly lower before a sharp decline.</li>
</ul>
<p>In recent market activity, ChainLink (LINK) has continued to perform in tandem with Ethereum (ETH). According to crypto analyst <a href="https://x.com/CryptoMichNL" rel="noopener noreferrer nofollow">Michaël van de Poppe</a>, LINK is at a cycle low and may see rotation after Ethereum finds its low.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a> continues to perform weekly, hand-in-hand with <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>.<br><br>It's at a cycle low and I think we'll rotate this right after Ethereum has found its low. <a href="https://t.co/mJ7ULOwkFU" rel="noopener noreferrer nofollow">pic.twitter.com/mJ7ULOwkFU</a></p>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1817168059435716694?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 27, 2024</a>
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<h3 class="wp-block-heading" id="h-link-s-technical-analysis-against-btc"><strong>LINK’s Technical Analysis Against BTC</strong></h3>
<p>The ChainLink (LINK) has shown a <a href="https://cryptonewsland.com/110-link-price-as-chainlink-reveals/" rel="noopener noreferrer nofollow">notable downtrend against Bitcoin</a> from August 2020 to mid-2022. Significant drops marked this period, with some upward movements starting in May 2022.&nbsp;</p>
<p>Currently, LINK is around 0.0001999 BTC, within a major support zone. Key resistance levels are at 0.0004480 BTC, 0.0006721 BTC, and 0.0007950 BTC.</p>
<p><img decoding="async" width="602" height="317" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc464zn2bM3Md5CuiGDTDsyc_Hr1TqlkSF_Pg2gVAE-DJQklWKSL-SVnJP0Um3vWSE2Wx05DdCo5fumimgqr8G2K25yCe-8L16Sdg3d3sDuB6mPeabGv-QkN4gHzoE2udPkzUWkH42j4jk60QhSUYdDbTg?key=DuRc_77RnWWP5nJUE_f4TA"></p>
<p>Source; <a href="https://x.com/CryptoMichNL" rel="noopener noreferrer nofollow">Michaël van de Poppe</a> on X</p>
<p>The Relative Strength Index (RSI) shows periods of overbought and oversold conditions, vital for gauging momentum. Volume bars indicate higher trading activity during significant price movements, which could signal investor interest.</p>
<h3 class="wp-block-heading" id="h-historical-and-projected-price-movements"><strong>Historical and Projected Price Movements</strong></h3>
<p>A long-term view of LINK’s performance against BTC highlights periods of <a href="https://cryptonewsland.com/chainlink-35-link-price-within-reach/" rel="noopener noreferrer nofollow">consolidation and attempted reversals</a>. The chart spans from August 2020 to July 2024, with projections into 2025 and 2026. Recent data shows a 121.93% move from May 2022 to June 2023 and a 155.15% move from June 2023 to a point in 2024.</p>
<p>The recent higher lows are forming a support trend line, while the crucial resistance level at 0.00044880 BTC is pivotal for strong breakouts upwards. The future outlook suggests that LINK needs to break through this resistance to confirm a stronger upward move.</p>
<h3 class="wp-block-heading" id="h-link-vs-eth-short-term-performance"><strong>LINK vs. ETH: Short-Term Performance</strong></h3>
<p>A comparative analysis of LINK and ETH over a 24-hour period reveals key insights. Both cryptocurrencies show volatility, with ETH displaying slightly higher fluctuations. The time frame spans from 9:00 PM on July 27th to 9:00 PM the following day.</p>
<p><img decoding="async" width="602" height="399" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfkDgYPUduUQvmBH13AEpLqGSGQoV53mbl3wERUQCEdT9_YP3S4jvg7V-3OMjRAzjGdUzIasyApxnXHS20V3yKRTSkG7FtBuFHE8hagfJ1WGi5JPUEWhjxHL0unz-dlbWms3dxHjKEQAO29ZRk6K7QT6-e1?key=DuRc_77RnWWP5nJUE_f4TA"></p>
<p>Source; <a href="https://coinmarketcap.com/currencies/chainlink/" rel="noopener noreferrer nofollow">CoinMarketCap</a></p>
<p>Both cryptocurrencies peaked around 6:00 PM, with ETH reaching about 2% growth and LINK slightly lower. After the peak, both experienced a sharp decline, ending the period with a slight positive change from their starting point. Notably, ETH performed marginally better than LINK.</p>
<p>ChainLink’s performance against Bitcoin shows potential signs of a <a href="https://cryptonewsland.com/link-poised-for-triple-digit-breakthrough/" rel="noopener noreferrer nofollow">bullish reversal</a>, while its short-term performance against Ethereum indicates similar market trends with slight variations in volatility.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
<ul class="wp-block-yoast-seo-related-links yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/what-future-awaits-link-predictions-of-surging-over-100/" rel="noopener noreferrer nofollow">What Future Awaits LINK? Predictions of Surging Over $100</a></li>
 <li><a href="https://cryptonewsland.com/link-poised-for-triple-digit-breakthrough/" rel="noopener noreferrer nofollow">ChainLink’s Macro Scale: LINK Poised for Triple-Digit Breakthrough</a></li>
 <li><a href="https://cryptonewsland.com/what-the-2-1-million-liquidation-in-chainlink-means-for-links-future/" rel="noopener noreferrer nofollow">What the $2.1 Million Liquidation in Chainlink Means for LINK’s Future</a></li>
 <li><a href="https://cryptonewsland.com/link-target-price-loads-on-chainlinks-breakout/" rel="noopener noreferrer nofollow">$33 LINK Target Price Loads as Chainlink Prepares for $14.6 Breakout, Next Target $26.5</a></li>
 <li><a href="https://cryptonewsland.com/links-key-signal-points-to-massive-gains/" rel="noopener noreferrer nofollow">Will Chainlink (LINK) Follow ETH’s Parabolic History as Key Signal Points to Massive Gains?</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/link-vs-eth-trends-analyzing-links/" rel="noopener noreferrer nofollow">LINK vs ETH Trends: Analyzing LINK’s Potential Rebound and Key Resistance Levels</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

LINK vs ETH Trends: Analyzing LINK’s Potential Rebound and Key Resistance Levels

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Crypto News Land

Інші статті, опубліковані 27 лип. 2024 р.

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