Reasons to trust
Strict editing policy focusing on accuracy, relevance and fairness
Created by industry experts and meticulously reviewed
The highest standard for reporting and publishing
Strict editing policy focusing on accuracy, relevance and fairness
The soccer price for the Lion and Player is soft. I hate each of the arcu lorem, ultricy kids, or ullamcorper football.
This article is also available in Spanish.
The last month of the market cycle is usually characterized by an exhilarating execution with various assets in the Altcoin market. This is a famous period known as the “Altcoin season.” Unfortunately, the market cycle appears to have peaked, but the cryptocurrency stories in this category were the opposite.
Specifically, chainlink prices have fallen by more than 50% over the past three months, highlighting the weakening climate of the crypto market. However, the future may not be all bleak as the latest price outlook suggests a promising future for Link Tokens.
Are ChainLink priced gears 100% moving?
In a recent post on the X platform, Crypto analysts with the pseudonym Satoshi Flipper shared an exciting analysis of ChainLink prices. Crypto Pundit has predicted the link to reach $31 in the coming weeks, referring to the current layout of its daily price chart.
Related readings
This bullish analysis is based on the appearance of the falling wedge pattern on the chain link price chart. The falling wedge pattern is a technical analysis formation that features two descending and converging trend lines. The upper line connecting the high value at the bottom and the underline connecting the underline at the bottom.
Wedge formations that can rise or fall are considered continuation or inverted patterns depending on whether the price collapses or breaks. In a falling wedge, a trend reversal is identified if the price breaks above the upper boundary as it narrows to the downward line.
This scenario appears to be rolling out on the Daily ChainLink price chart as AltCoin continues to last in the current downtrend. However, breaks above the upper trendline indicate a shift towards an upward trend.
As shown in the chart above, the price of the link appears to have already tested the cap. Satoshi Flipper expects the altcoin to reach $31 if a successful closure occurs outside the falling wedge.
At the time of writing, the link value is hovering around the $14 mark, reflecting a leap of over 2% over the last 24 hours. Chain Link prices move to $31, representing a surge of over 100% from current points.
640,000 link tokens flow from central exchange
According to Crypto Pundit Ali Martinez, most link investors move tokens from centralized exchanges. Recent data from Santiment shows that over 640,000 links have ended their crypto exchanges in the last 24 hours.
The magnitude of this exchange outflow supports the current bullish prognosis of chain link prices. Because there are fewer tokens available to be sold in the open market, Altcoin prices will result in less sales pressure.
However, it is worth mentioning that this important exchange spill could potentially connect to unlocking ChainLink’s quarterly tokens, which was seen to be released on Friday, March 15th.
Related readings
ISTOCK featured images, TradingView chart
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
