Chainlink’s Price Shows Signs of Upside Potential

The rapid changes in the crypto market, especially the fluctuations in the price of Chainlink (LINK), are being laid out with the analyses made. Analysts predict that the price of LINK can reach $20 in the near future. LINK is currently trading around $18.16, indicating its potential for an upward movement. Exchanges and LINK Supply The Exchange Net Position Change, as an indicator of the tokens withdrawn from exchanges, provides signs of a possible increase in LINK price. The latest data, recorded as -5.85 million on March 20, shows that the tokens are being withdrawn from the exchanges, indicating a decrease in selling pressure. LINK Market State and Optimism During a general market downturn, while many cryptocurrencies lost value, LINK experienced a 14.39% decrease last week. However, analysts predict that if the decrease in the token withdrawn from exchanges continues, LINK’s price may stabilize. LINK’s Potential and Liquidation Levels LINK, […]

Chainlink’s Price Shows Signs of Upside Potential

The rapid changes in the crypto market, especially the fluctuations in the price of Chainlink (LINK), are being laid out with the analyses made. Analysts predict that the price of LINK can reach $20 in the near future. LINK is currently trading around $18.16, indicating its potential for an upward movement.

The Exchange Net Position Change, as an indicator of the tokens withdrawn from exchanges, provides signs of a possible increase in LINK price. The latest data, recorded as -5.85 million on March 20, shows that the tokens are being withdrawn from the exchanges, indicating a decrease in selling pressure.

During a general market downturn, while many cryptocurrencies lost value, LINK experienced a 14.39% decrease last week. However, analysts predict that if the decrease in the token withdrawn from exchanges continues, LINK’s price may stabilize.

LINK’s Potential and Liquidation Levels

LINK, one of the altcoins that moves independently of market trends in 2023, seems to have a chance to repeat its rise with the current trend. Liquidation levels, which are price levels that may result in forced position closings for investors, are considered an important indicator to understand LINK’s future price movements.

Analyses of liquidation levels indicate a high risk of liquidation if LINK reaches $18.20. However, the Cumulative Liquidation Levels Delta shows that short positions may be at risk. Analysts like Michael van de Poppe and others view LINK as a long-term buying opportunity at its current state.

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