A naukri.com initiative
TronWeekly
3w
237
Image Credit: TronWeekly
Chainlink Comeback Possible? LINK Eyes Recovery Toward 0.0001576 BTC
- Chainlink's BTC ratio fell 25% from 0.0001576 BTC to 0.0001194 BTC in two months.
- LINK surged 5.39% in 24 hours to $11.91, raising the market cap to $8.11 billion.
- Analysts eye $12–$13 resistance; breakout may spark bullish momentum and reverse recent underperformance.
- Criticism emerged over Chainlink's underperformance against Bitcoin, with concerns raised about the decline in LINK's BTC ratio.
- Technical analyst CRYPTOWZRD suggests a potential rebound for LINKBTC, highlighting $12.50 as a crucial support level.
- CRYPTOWZRD warns of Bitcoin's weekend volatility impacting LINK's movements and identifies $16 and $19.50 as key resistance levels.
- Chainlink's recent surge puts it at $11.91 with a market cap of $8.11 billion, showing increased investor interest.
- LINK's healthy volume-to-market cap ratio and stable token economics suggest minimal short-term dilution risk.
- Analysts focus on $12-$13 as key resistance levels for Chainlink, potentially boosting long-term confidence.
- Discussion continues regarding Chainlink's role in providing decentralized oracle services for DeFi and enterprise applications.
Read Full Article
14 Likes
For uninterrupted reading, download the app