ICOCalendar.Today

  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍
  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍

Chainlink (LINK) Just Crossed Above $8: What Analysts Say Comes Next

7/12/2020

Comments

 

Shocking many traders, Chainlink (LINK) continued to rocket higher after our last update on the cryptocurrency. Published about two hours ago, the altcoin had passed above $7.00 for the first time ever.

Now, LINK is trading at $8.21 — touching $8.50 just minutes ago as the asset has truly gone parabolic.

Chart of LINK's price action over the past two days from TradingView.com

This means that over the past 24 hours, the asset is up by more than 35%. And over the past two days alone, it is up by around 40%.

A Surge Built on LINK Shorts

Partially fueling this rally seems to be a surge in liquidations of traders that were holding a LINK short.

A cryptocurrency trader shared the graph below in the midst of the ongoing upswing. It shows that over the past month, there have been dozens of millions of dollars worth of Chainlink short positions liquidated. The biggest liquidation ever took place today.

Image

Graph of LINK short position liquidations shared by trader "Hsaka" (@HsakaTrades on Twitter).

What’s Next For Chainlink? 

Investors are trying to digest what comes next for LINK. After rallying dozens of percent in a few days and hundreds of percent in a few months, there’s much to think about.

On-chain analyst Cole Garner shared the chart below just an hour ago. He noted that LINK closed “its first candle above the log trendline in a full year.”

The last time this happened, the asset temporarily went exponential, then suffered a strong retracement once the buying volume subsided.

$LINK closed its first candle above the log trendline in a full year.

Last time that happened it went parabolic. Is this a repeat? pic.twitter.com/Hac2hemFTl

— Cole Garner (@ColeGarnerBTC) July 13, 2020

Should history repeat, Chainlink will continue to rally in the days ahead.

Garner’s comment comes a few days after he shared that there are clear on-chain and exchange metrics indicating LINK will continue higher. Some of those are as follows:

  • LINK’s “mean dollar invested age” is curling down, suggesting an influx of new money. Every time this metric has done so, the asset has proceeded to rocket higher.
  • The number of LINK held on exchanges is dropping, meaning there is less potential sell pressure.
  • On-chain Chainlink volume is not even close to previous historical highs.
  • And more. 

As of this article’s publishing, LINK is trading for $8.02. This means that there has been a slight retracement since the all-time high established just minutes ago.

Featured Image from Shutterstock
Price tags: linkusd, linkbtc
Charts from TradingView.com
Chainlink (LINK) Just Crossed Above $8 — Why Some Say the Rally Isn't Over


Via https://www.newsbtc.com/2020/07/13/chainlink-link-just-crossed-above-8/?utm_source=rss&utm_medium=rss&utm_campaign=chainlink-link-just-crossed-above-8
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.