Chainlink (LINK) Shows Potential for $20 Climb Amid Strong Demand

Share on Facebook Share on Twitter

Chainlink, also known as LINK, has been trading within a range for the past two months. This range extended from 13.3 to 16.6 dollars. The highs of this range have so far proven to be an insurmountable barrier. However, the bulls can realistically expect that LINK will reach 20 dollars.

A network-wide accumulation of LINK has been observed. The selling pressure was not strong, but the bulls were also not yet ready for a breakout. A recent post by Ali showed that the zone from 14.8 to 15.2 dollars was a strong demand zone for LINK. Using data from IntoTheBlock, he found that 85.13 million LINK were purchased in this zone. He also observed that resistance above was weak. But is another LINK rally possible given such a large proportion of winners?

Weak Selling Pressure and Strong HODLer Sentiment

An analysis of Santiment data showed that a network-wide accumulation of LINK was underway. The average coin age metric has shown an upward trend since December 15th. At the same time, there have been few notable spikes in dormant circulation in the last two weeks. This suggests a lack of selling pressure and a tendency of investors to hold LINK.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

The MVRV ratio (Market Value to Realized Value) has shown a downward trend since mid-November and was just above zero at the time of press. This suggests that the token is not overvalued. Combined with the accumulation trend, it can be concluded that LINK likely still has room for a rally.

A look at the distribution of supply shows that whales (large investors) are accumulating LINK. Addresses with 1 million or more LINK jumped higher on December 7th, while the number of LINK holders between 10 and 1 million fell. This suggests that many holders have sold at a profit. But even before this event, this group of addresses had shown a downward trend, indicating selling activity. After December 7th, however, their holdings increased again as a percentage, meaning they began to accumulate again.

The Importance of the 15-Dollar Mark

The technical analysis of LINK shows that the midpoint of the mentioned range (purple) is at 15 dollars. This is also an important level on a higher timeframe. In the last two months, it has served as both support and resistance. Therefore, both buyers and sellers are evenly positioned in the spot market. At the same time, the amount of LINK purchased in the window from 14.8 to 15.2 dollars means that the bulls would fight fiercely should sellers try to lower prices.

Sources:
– Akashnath S Journalist, AMBCrypto
– Ali, IntoTheBlock
– Santiment
– TradingView

Casinos: 11
Profile Chainlink
Symbol LINK
Coin type Alt Coin
Transaction Speed Medium
Pros
  • Completely decentralized and much more anonymous than Bitcoin, for example
  • Deposits and withdrawals in seconds
Cons
  • Small selection of Chainlink casinos
Price 12,70 €
Percent Change 24h -4,44 %
Percent Change 7d -3,72 %
Percent Change 30d 2,00 %
Percent Change 60d -20,47 %
Percent Change 1y 73,06 %
Market Cap 7.725.534.796,00 €
Max. Supply 1.000.000.000
Official Links
Socials Reddit | X
Best 3 Chainlink casinos
Jackbit Casino – Read Review | Go to casino
Share on Facebook Share on Twitter

The 3 best crypto casinos

100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (21)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Bonk Coin Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Pepe Coin Logo
  • Pepe Coin Logo
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Logo des Tamadoge Coins
  • Tether (USDT) Logo
  • Toncoin Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 14 days for deposit bonus
7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Abby Richards on 15. July 2024
Anjuan Gaming
Anjouan
Licence
Curaçao License
Curaçao
Licence
Up to 1 BTC + 100 Free Spins
Welcome bonus
BETSFTD
Cryptocurrencies (27)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Bonk Coin Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • Toncoin Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x deposit + bonus
40x free spins winnings
Minimum deposit 0.00034 BTC or equivalent
Maximum bet 0.00003 BTC or equivalent
Bonus validity 30 days to claim
14 days to wager
  • Minimum deposit: 0.048 BCH • 0.0068 ETH • 0.26 LTC • 154 DOGE • 20 USDT • 40 XRP • 180 TRX • 48 ADA • 0.04 BNB • 20 BUSD • 20 USDC.
  • Maximum bet per round: 0.005 BCH • 0.0007 ETH • 0.03 LTC • 15 DOGE • 2 USDT • 4 XRP • 19 TRX • 4.8 ADA • 0.004 BNB • 2 BUSD • 2 USDC.
  • Free spins are credited on “Max Miner” by Gamebeat, 20/25 free spins per a day.
How did we rate this casino

Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.

Author & Responsibility: Steven Harper
Last update by Isabella Brown on 19. June 2024
Anjuan Gaming
Anjouan
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Michael Schmitz on 14. June 2024
Curaçao License
Curaçao
Licence

Latest News

Created by

As a bit of a nerd and travel fan, I get to combine many things at KC. As a member of the team, I can ensure that our readers play in reputable casinos and at the same time contribute to the technical development. I do that from Germany or Spain, my adopted country.

Last update: 24. June 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.

Compare Casinos Choose up to 3 casinos to compare