Will LINK Correction Slip Under $10 By June End?
The post Will LINK Correction Slip Under $10 By June End? appeared on BitcoinEthereumNews.com.
Chainlink Price Prediction: The weekends are quite stable for the cryptocurrency market as Bitcoin price is struggling hard to sustain above $64000. However, the bearish momentum is still active of several major altcoins including Chainlink projecting a continued downward trajectory. The LINK price falling for three consecutive days recorded an 8.3% loss and was dumped to $13.57. Will this correction extend if BTC plunges to the $60000 mark? 21M $LINK Unlocked from Chainlink Noncirculating Supply Contracts Chainlink Price Prediction| Tradingview Amid the current market correction, the Chainlink price shows a V-top reversal from the $19.2 mark. This first lower high formation after a notable uptrend indicates an initial sign of traders’ sentiment changing in the LINK token. The bearish turnaround has tumbled the asset 29% down to trade at $13.62, while the market cap fell to $8.281 Billion. If the selling pressure persists, the LINK price could fall another 9-10% before hitting multi-month support of $12.26. The support coinciding close with the 200-weekly EMA and an ascending trendline creates a strong confluence point for buyers to counterattack. Furthermore, Chainlink has recently unlocked 21 million LINK tokens, valued at $295 million, from its noncirculating supply contracts, according to Spot On Chain. This includes: 18.25 million $LINK ($264 million) to Binance. 2.25 million $LINK ($31.3 million) to a multisig wallet. Since August 2022, Chainlink has unlocked 127 million $LINK and sent 107.7 million $LINK to Binance, maintaining an average price of $9.89. Currently, 391.5 million $LINK tokens ($5.4 billion) remain in 24 contracts. 21M $LINK ($295M) was unlocked from @chainlink Noncirculating supply contracts ~3hrs ago, including: • 18.25M $LINK ($264M) to #Binance• 2.25M $LINK ($31.3M) to Multisig 0xD50f Notably:– Chainlink has unlocked 127M $LINK and sent 107.7M $LINK to Binance at ~$9.89 since Aug… https://t.co/bVUDTMDFgZ pic.twitter.com/jxaO5Glxjb — Spot On Chain (@spotonchain) June…
Filed under: News - @ June 23, 2024 6:08 pm