Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Chainlink (LINK) Bucks Market Downtrend to Hit 11%
EXCHANGE NEWS

Chainlink (LINK) Bucks Market Downtrend to Hit 11%

By Crypto FlexsNovember 26, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Chainlink (LINK) Bucks Market Downtrend to Hit 11%
Share
Facebook Twitter LinkedIn Pinterest Email

Chainlink has remained strong despite bearish pressure from the broader cryptocurrency market. The cryptocurrency showed strength yesterday, September 26, at $7.4, up more than 7%.

LINK remains strong, with its price up 11% in 7 days and over 2% in the last 24 hours. However, while the token price continues to rise, data shows that trading volume has decreased by 17% in the last 24 hours. What is the reason for this contradiction?

Chainlink price continues to surge

In an X post on September 24th, the Chainlink network announced: We have recorded several integrations. Across 6 blockchains. These include Arbitrum, Ethereum, Optimism, Avalanche, Polygon, and BNB Chain.

And yesterday, September 26th, the gaming platform BetSwirl presentation We have integrated Chainlink’s CCIP across Ethereum, Polygon, Avalanche, and Arbitrum. According to this post: CCIP integration “enables BetSwirl for seamless, secure and reliable cross-chain token transfers.”

Related Read: XRP Price Analysis: 4-Month Chart Dynamics Interpreted by Crypto Analysts

Chainlink’s user base has expanded as adoption grows across multiple chains. This is a plausible factor supporting LINK’s resilience amid the prevailing bear market.

LINK briefly fell from the $7.5 level to $7.3 yesterday, but has since regained momentum. Considering the continued movement, the cryptocurrency asset may break the $7.8 resistance and hit higher highs soon.

Meanwhile, Chainlink (LINK) ranks third among the top weekly gainers, behind CRV and PEPE. It also earned a spot on the daily top gainers chart.

Although price growth is strong, trading volume has decreased by 17%, raising concerns about whether LINK can maintain its upward trend. This indicates a decrease in trading activity and may be a sign that buyers have reached saturation point and are pausing to gauge their next move.

This setup bodes poorly for LINK as it signals the entry of sellers and could put downward pressure on the token price.

The price of LINK is currently sitting at $7.64 on the daily chart. | Source: LINKUSD price chart from TradingView.com

Chainlink (LINK) supply suspended on cryptocurrency exchanges due to price surge

According to Santiment: report As of September 24, Chainlink remains one of the best-performing cryptocurrencies in September. Unlike most assets, LINK’s price often records an initial rise when holders move their tokens on exchanges, he explained.

Santiment noted that asset prices increased 23% in two weeks as exchange supply flowed back into cold wallets. The analytics platform also reported that LINK exchange supply increased 17.2%, hitting a 2023 high on September 14.

However, 10 days later, on September 24, the token supply on exchanges fell to 16.4%. This observation is a plausible reason for Chainlink’s declining trading volume.

Meanwhile, as of this writing, LINK is trading at $7.64, up 2.88% in price over the past 24 hours. The token is trading above the simple moving average of $6.494 and $6.719 and two key support levels.

LINK is approaching overbought territory and is forming a bullish candle as buyers race to conquer the $7.823 resistance level.

Featured image from Pixabay and chart from TradingView.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investors are the main level of support of the eyes.

June 6, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The price is farther, and the investor of EDGE

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 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

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025
Most Popular

Ethereum L2s will be interoperable ‘within months’: Complete guide

February 5, 2025

FX Source Miner Scam Cryptocurrency Trading and Mining Platform

December 7, 2023

dogwifhat: How WIF is risking a deeper correction amid a bullish pattern

December 22, 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.