Chainlink (LINK) Investors Unfazed by Market Instability, Refrain from Selling
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Chainlink’s price was impacted by a broader market downturn, but LINK holders are showing resilience by holding their tokens. Coin Holding Time surged by 293%, suggesting that investors believe in future gains despite current market volatility.
The Bulls and Bears Indicator reveals that the number of bulls outpaces bears, indicating market participants are optimistic. A falling wedge pattern on the daily chart supports the notion of a potential price rebound for LINK.
The Money Flow Index (MFI) also signals increasing liquidity, suggesting that traders are buying the dip. If this buying pressure continues, LINK might hit $10.69 and potentially retest $12.31.
However, if holders start distributing their tokens, the prediction might be invalidated, leading to a price drop towards $8.06.
Fuente: beincrypto.com ↗
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