Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»TRADING NEWS»Is a Chainlink (LINK) price correction imminent?
TRADING NEWS

Is a Chainlink (LINK) price correction imminent?

By Crypto FlexsMarch 14, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Is a Chainlink (LINK) price correction imminent?
Share
Facebook Twitter LinkedIn Pinterest Email

Chainlink price has been trending upward for the past few weeks and the momentum appears to be slowing over the past 48 hours.

But what’s more interesting is that the whales have been signaling for a long time already an impending adjustment that may arrive soon.

Chainlink Whales Could Be Bearish

Chainlink price recently hit a 25-month high by hitting a resistance level of $21.69. The Oracle token was down 5.66% as of today, before correcting soon after. At the time of this writing, we see LINK trading at $20.47.

From the looks of it, a decline is likely coming, and investors may see the same behavior. In particular, whale investors have been predicting a downtrend for some time. Addresses holding 10,000 to 100,000 LINKs have been selling steadily since early February. In just a month and a half, supply was reduced by nearly 2 million LINK units, worth over $40 million.

Chainlink Whale Supply. Source: Santiment

These whale addresses have historically proven to be a sure sign of a trend reversal. This is because the price increase was followed by an accumulation of whale addresses, followed by a correction due to selling. This makes their recent sales an indicator of things to come.

Read more: Chainlink (LINK) price prediction for 2024/2025/2030

Whales also have a significant impact on LINK’s price action, especially since this group’s wallets account for approximately 69% of the total LINK circulating supply. The remaining 31% of the supply is divided between fish and small wallet holders.

Chainlink supply distribution.
Chainlink supply distribution. Source: IntoTheBlock

A price drop is now expected, but it hasn’t arrived yet as sales are not as significant and sudden as they were in the past. This has resulted in a bearish divergence, which will be corrected once LINK records a downward trend.

LINK Price Prediction: All Is in Favor of Whales

While the price of Chainlink is slowly rising, we can see the altcoin losing its bullish momentum in a shorter period of time. This is further evidenced by the negative signal presented by the Moving Average Convergence Divergence (MACD) indicator.

MACD tracks the relationship between two moving averages of security prices. It measures the difference between short-term (indicator lines) and long-term moving averages (signal lines) to help identify trend direction, momentum, and potential buy or sell signals.

At the time of writing, the indicator records a bearish crossover with a red candle registered on the histogram. The 50-day exponential moving average (red) is also currently above the candle. This is considered a near-term bearish signal, suggesting that LINK could fall to $20.12.

LINK/USDT 4-hour chart.
LINK/USDT 4-hour chart. Source: TradingView

If bearish sentiment has a significant impact on Chainlink’s price, it may fall further to test the $19.22 support level.

Read more: What is Chainlink (LINK)?

However, the 100-day EMA (green) is acting as support for LINK. Oracle tokens can stay above $20.12 if they avoid a significant decline. Additional support from retail investors could reverse a potential downturn. This would nullify the bearish argument by pushing the altcoin above $21.

disclaimer

In accordance with Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decisions. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

Why I am still optimistic despite noise

June 26, 2025

Like the initial Cardano, a way to reach $ 300 for Loy tokens more than $ 450K

June 25, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 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

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

Crypto Titan Digital Currency Group Opposes Genesis’ Restructuring Plan That Favors Some Creditors

February 7, 2024

Analysts predicted an altcoin price boom with Ethereum’s ‘Tencoon’ upgrade and revealed the top picks.

February 23, 2024

How long will Shiba Inu (SHIB) prices continue to fall?

February 3, 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.