Chainlink became quite popular among the whales Chainlink’s much awaited staking v0.1 Early Access went live on Ethereum mainnet Chainlink [LINK] recently gained quite some attention from the whales, which led LINK to make headlines. As per Whalestats, a crypto whale tracking Twitter handle, it was revealed that LINK was among the top 10 cryptos […]
A look at LINK’s on-chain metrics shed some light on what was going on and whether a change is imminent.revealed that a few of the metrics were working in LINK’s favor. For instance, LINK’s exchange reserve was declining, which indicated less selling pressure.’s exchange outflow also registered spikes over the last week. This was by and large is a bullish signal, suggesting a possible uptrend in the coming days.
However, the Market Value to Realized Value Ratio supported the bears as it went down over the last week. This could be an indication of increased chances of a continued price plummet.Surprisingly, LINK’s daily chart revealed that the bulls and the bears were struggling to beat each other. This was because the Exponential Moving Average Ribbon revealed that the 20-day EMA and the 55-day EMA were in an attempt to flip each other.
The Chaikin Money Flow was resting well above the neutral position, which was bullish. However, the Relative Strength Index registered a slight downtick, suggesting that the bears might as well win the battle.Subscribe to get it daily in your inbox.
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