Chainlink (LINK) Could Drop To $8 If It Loses Current Support: On-Chain Data Reveals

Quick Summary:

Related Reading: Ethereum (ETH) Eyes $3,000: Data Suggests Imminent Breakout The lack of network activity to support the current price level raises concerns.

Related Reading: LINK Surges 11% As Key Data Reveals Day Traders Are Locking Gains The importance of this level is further emphasized by on-chain data from Santiment, which shows that demand for LINK is cooling off.

If LINK sustains this support, the price could enter a period of sideways consolidation, setting the stage for a potential push toward local highs in the coming week.

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Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: LINKUSD Chainlink news Chainlink Link Chainlink Active Addresses Chainlink analysis Chainlink Chainlink Decline Chainlink price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 11:00:09 (3 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 469 words

Reading Time: 3 minutes read

Sentences: 64 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22296765

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 2 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 9 hours ago

Coverage Areas: United Kingdom

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