Criptomoeda Chainlink dá sinais de recuperação após queda de 40%; O que vem a seguir para LINK?

• Chainlink signs of recovery.
• Chainlink Bull Run Coming Soon?
• Whales hoard LINK.

LINK, the native cryptocurrency of the decentralized oracle network Chainlink, has been catching investors’ attention, especially after a nearly 40% drop in the past month. This price correction, which coincides with a network contraction, raises questions about LINK’s future and whether a recovery is on the horizon.

Cryptocurrency market expert Ali Martinez has observed recent movements on the LINK network, suggesting potential upward price action in the near future.

Grid Slowdown and MVRV at Exhaustion Point

Recent data shared by renowned crypto analyst Ali Martinez reveals that the Chainlink network has been experiencing a slowdown since late November, which is reflected in the contraction in the number of transactions and a decrease in overall activity. This slowdown is an important factor to consider as it could indicate a decrease in demand for the LINK token and, consequently, influence its price. “The Chainlink network has been contracting since November 30th, indicating a slowdown in activity!” he noted.

Another indicator worth noting is MVRV (Market Value to Realized Value), which tracks traders’ profitability. Chainlink’s MVRV is currently at levels that have historically marked selling exhaustion points, suggesting that selling pressure may be coming to an end.

“This drawdown is also reflected in the MVRV Ratio, which tracks trader profitability. Currently, those who have bought LINK in the last 30 days are sitting on an average loss of -16%. This is a level that has historically marked points of exhaustion for selloffs.”

Martinez highlighted in his analysis that the Chainlink cryptocurrency has historically rallied when MVRV has fallen below -16%, with previous gains of 312%, 64%, 61%, 25%, and 52% suggesting a potential upside on the horizon.

Despite the recent price drop, one encouraging sign for Chainlink investors is the movement of whales, large holders of cryptocurrencies who can influence the market with their actions. According to data shared by Martinez, whales have accumulated over $24 million worth of Chainlink in the last 20 hours, which could indicate an increase in confidence in the cryptocurrency and a possible recovery in the future.

Key Levels and Next Steps

For Chainlink to confirm a recovery, it is crucial that it breaks above the $19 resistance and then aims to reach the $23,70 mark, as per the analysis. These resistance levels are important as they represent barriers that the price needs to overcome to start a new uptrend.

On the other hand, investors should keep an eye on the support at $15,50. Losing this support level could invalidate the bullish outlook and trigger a sharper correction, taking the Chainlink price to even lower levels.

“The most critical support level for Chainlink $LINK is at $15,50, while the key resistance levels to watch are $19 and $23,70. A breakout or breakdown of these zones could define the trend!” Martinez wrote.

At the time of publication, Chainlink price was listed at $18,08, down 0.7% in the last 24 hours.