Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»ALTCOIN NEWS»According to Crypto Trader, Chainlink is facing a make-or-break moment as LINK approaches a bearish setup.
ALTCOIN NEWS

According to Crypto Trader, Chainlink is facing a make-or-break moment as LINK approaches a bearish setup.

By Crypto FlexsJanuary 10, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
According to Crypto Trader, Chainlink is facing a make-or-break moment as LINK approaches a bearish setup.
Share
Facebook Twitter LinkedIn Pinterest Email

A widely respected cryptocurrency analyst has said that the Ethereum-based (ETH) altcoin is dangerously close to a bearish reversal.

Pseudonym: Cryptocurrency strategist Rekt Capital says It has 385,900 followers on social media platform

“Chainlink has confirmed a breakout on the daily time frame but is trying to retest the red box bottom. Here, the make-or-break moment of a failed retest would set up a week for bearish bias, with the red box changing from old support to new resistance.”

Source: Rekt Capital/X

LINK is trading at $13.53 at the time of this writing and has fallen slightly over the past 24 hours.

Looking at Bitcoin, traders say that based on past price patterns, BTC could see a retracement of up to 40% ahead of the April halving event, when miners’ rewards are scheduled to be cut in half.

“There is a possibility that Bitcoin could fall by up to 40% around the halving. We’ve seen it in the past. So now we need to focus on these few steps. (There) There are now 42 days left until the rally before the halving. Pre-halving rallies tend to occur after Bitcoin’s price action retraces, and there is plenty of upside after that. A few weeks after a halving event we tend to see a pre-halving retracement, and if we see the record repeating itself we can see that a negative 40% halving retracement could occur in the future.

In 2020, we saw a 20% pre-halving retracement. And since we saw such a big drop in the period before the halving, it could be argued that this retracement was only 20%. So if we get a deep retracement over the next 40 days, does that mean we’ll get a shallower retracement around the halving event itself? And if we see a shallow retracement, does that mean we will have a deeper retracement during the retracement period before the halving?”

Bitcoin is trading at $46,804 at the time of writing, up nearly 4% in the last 24 hours.

Don’t miss a beat – subscribe to get email alerts delivered straight to your inbox

Check Price Action

follow us TwitterFacebook, Telegram

Daily Hodl Mix Surfing

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Featured image: Shutterstock/Sergey Nivens

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Keepsolid launches KS COIN: Loyalty encryption through actual utility token benefits

August 14, 2025

XRP struggles for $ 3: Do Whale Offroads attract it lower?

August 7, 2025

Tethers we target the Stablecoin market and quote the path of genius behavior.

July 31, 2025
Add A Comment

Comments are closed.

Recent Posts

Since the leakage is not over, the price of Stellar (XLM) is faced with a fall.

August 21, 2025

2025-26 discussions about which coins will be ranked first in Memecoin Cycle

August 21, 2025

Buyback And Burn Of $MBG Unveiled As MultiBank Group Posts $209M H1 Revenue

August 20, 2025

Cointel Raises $7.4M In Strategic Round Led By Avalanche And Sugafam Inc.

August 20, 2025

Inspired By Pepe – Ethereum L2 Layer Brett Hits $700K In Presale

August 20, 2025

Resupplyfi Nuclear Analysis -Ackee Blockchain

August 20, 2025

MetaWin Announces $1.3 Million NFT Holder Exclusive Giveaway

August 20, 2025

OpenServ Names Joey Kheireddine Head Of Blockchain, Joining From Eliza Labs (formerly AI16z)

August 20, 2025

Ethereum-Based Project Pepeto Surpasses $6.3M In Presale As Ecosystem Development Advances

August 20, 2025

Bossjob’s Twin Engine Strategy Revolutionizes Talent Acquisition At Tokyo WebX Summit

August 20, 2025

1inch Pioneers Solana Cross-chain Swaps, Unlocking Seamless Interoperability

August 19, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Since the leakage is not over, the price of Stellar (XLM) is faced with a fall.

August 21, 2025

2025-26 discussions about which coins will be ranked first in Memecoin Cycle

August 21, 2025

Buyback And Burn Of $MBG Unveiled As MultiBank Group Posts $209M H1 Revenue

August 20, 2025
Most Popular

Vitalik Buterin reveals the worst thing happening on the Ethereum network.

January 2, 2024

Mt. Gox moves 2,500 Bitcoin as the price approaches $89,000.

November 12, 2024

Chainlink (LINK) Founder Sergey Nazarov Says Real Assets (RWA) Are the Next Big Trend in Blockchain

July 15, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.