cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

New Chainlink Addresses Hit Highest Levels Since January – LINK Network Growth Accelerates

-

by

cryptd.in
in

Chainlink is trading at crucial demand levels after days of consolidation below the $20 mark, struggling to reclaim momentum amid broader market uncertainty. The entire crypto market has faced heightened volatility and instability following weeks of selling pressure. Investors remain on edge after Friday’s Bybit hack, which saw $1.5 billion worth of ETH stolen, further fueling market-wide fear and caution.

Despite the uncertainty, Chainlink is showing signs of strength. Key data from Glassnode reveals that Chainlink network growth is accelerating, with the number of new $LINK addresses surging to 2,298—its highest level since January. This spike in network activity suggests increasing adoption and renewed interest from investors, potentially signaling a shift in sentiment for the oracle-based cryptocurrency.

As Chainlink continues to consolidate at key demand levels, traders are watching closely for a potential breakout. A strong recovery in network growth could translate into higher buying pressure, helping LINK reclaim critical resistance levels and break out of its current range. However, if bearish sentiment persists, LINK could struggle to maintain support, leading to further downside. With the market at a pivotal point, the coming days will be crucial in determining whether Chainlink can capitalize on its growing network activity and push higher.

Chainlink Grows Amid Uncertainty

Chainlink has continued to expand despite the broader market uncertainty and volatility, demonstrating resilience even as prices struggle to break above key resistance levels. While many altcoins have faced extreme selling pressure in recent weeks, LINK has held strong above crucial demand zones, maintaining its position as a top-performing project in the Oracle sector.

One of the key drivers of Chainlink’s strength is its continued strategic partnerships, including its collaboration with XRP, which highlights the growing demand for reliable decentralized data solutions in the blockchain space.

As the market looks ahead, Chainlink investors remain optimistic about the project’s potential in 2024. Many analysts expect LINK to have a bullish year, with increasing adoption fueling further price appreciation. Top analyst Ali Martinez shared Glassnode data on X, revealing that Chainlink network growth is accelerating significantly.

Chainlink New Addresses Count | Source: Ali Martinez on X

The number of new LINK addresses has surged to 2,298, its highest level since January. This surge in network activity suggests growing investor interest and adoption, both of which are typically bullish indicators for price action.

With this increasing momentum, Chainlink appears to be positioning itself as one of the most promising projects in the crypto industry. If this trend continues, LINK could see a breakout rally in the coming months, solidifying its role as a critical infrastructure component for decentralized applications and smart contracts.

Price Action Details: Testing Crucial Demand

Chainlink (LINK) is currently trading at $17 after multiple attempts to reclaim the 200-day exponential moving average (EMA) around the $18 level. Bulls are facing a critical moment as LINK consolidates below key resistance, struggling to gain enough momentum for a breakout. If buyers step in and reclaim the $18 level, the next major hurdle will be the psychological $20 mark. A strong push above this level could trigger an aggressive rally into higher price targets, setting the stage for a bullish continuation.

LINK testing crucial liquidity | Source: LINKUSDT chart on TradingView

However, if LINK fails to hold the $17 support level, the price could face renewed selling pressure, leading to a potential drop into lower demand zones. Given the current market uncertainty, investors are closely monitoring these levels to determine the next directional move. The recent increase in new Chainlink addresses, as reported by Glassnode, suggests growing investor interest, which could provide the necessary fuel for an uptrend.

In the coming days, all eyes will be on whether LINK can establish strength above the 200-day EMA and reclaim the $20 mark. A decisive breakout would confirm bullish momentum, while further downside could indicate prolonged consolidation or a potential retest of lower support levels.

Featured image from Dall-E, chart from TradingView

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (378) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (66) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (64) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (5) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (3) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (5) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.