LINK Surges 11% As Key Data Reveals Day Traders Are Locking Gains
2024年8月23日 - 3:30AM
NEWSBTC
Chainlink (LINK) has surged over 10% in the past few hours, pushing
its price to $11.39 at the time of writing. This significant gain
comes after two weeks of sideways consolidation, signaling a
potential shift in momentum. Related Reading: Chainlink Drops
by 64% In 5 Months, LINK Holders Unfazed: They Are Rapidly
Accumulating As LINK rallies, data from Santiment, a leading crypto
data intelligence platform, reveals that some daily traders are
already taking profits, capitalizing on the recent price increase.
This profit-taking activity highlights investors’ cautious optimism
as LINK’s price gains momentum and reaches technical resistance in
the 4-hour timeframe. LINK’s On-Chain Transaction Volume Showing
Profit-Taking LINK’s daily profit-to-loss transaction volume has
reached its highest level since July 14, with the ratio at 5.986.
This means there are nearly six transactions in profit for every
transaction in loss, signaling that short-term holders are actively
taking profits following the recent move up. Such a high ratio
indicates that investors are capitalizing on a significant price
increase or relief rally, locking in gains as the market tests key
levels. This profit-taking trend reveals the dynamics prevailing
among traders, even as LINK’s price continues to gain momentum in
the market. With the token testing local supply around the $11.40
mark, the market sentiment is one of careful anticipation. Traders
are keenly aware of the delicate balance between further gains and
potential pullbacks. Investors will watch for signs of a sustained
breakout or a potential reversal as LINK approaches this threshold.
The outcome at this level could set the tone for LINK’s price
action in the coming days, making it a critical juncture for
traders and investors alike. Technical Details: LINK Price In
Critical Level LINK is trading at $11.31 after breaking a
local high of $10.83 set on August 8, confirming an uptrend on the
daily time frame. The price rally paused at $11.40, right at the
4-hour (4H) 200 exponential moving average (EMA), underscoring the
significance of this technical indicator in lower time frames. This
indicator acts as a dynamic support or resistance level, often
indicating the trend in lower time frames. For LINK, reclaiming
this level is crucial to confirm bullish momentum. For LINK Bulls
to maintain momentum, the next crucial step is to retake the 4H 200
EMA and aim for $13. Conversely, if LINK fails to consolidate above
this indicator, it could lead to a retest of the previous
resistance at $10.83 and potentially a dip to the higher low around
$9.90. Related Reading: Analyst Says Chainlink Price Could Climb To
$19 — Here’s How Despite some day traders locking in profits, this
activity should be seen as a sign of healthy profit-taking after a
modest rally. The current price action reflects a market in
consolidation, with traders closely watching for the next move. As
LINK hovers near critical levels, the coming days will be pivotal
in determining whether the uptrend continues or if a pullback is on
the horizon. Cover image from Dall-E, Charts from Tradingview
ChainLink Token (COIN:LINKUSD)
過去 株価チャート
から 9 2024 まで 10 2024
ChainLink Token (COIN:LINKUSD)
過去 株価チャート
から 10 2023 まで 10 2024