- Chainlink is playing a high-stakes game of musical chairs, and the $18 level is the dance floor.
- The ‘at the money’ percentage is like a secret handshake – if you know the code, you’ll know the future.
As we speak, Chainlink [LINK] is testing the Bull Market Support Band at $18, and it’s like a big, shiny coin that’s about to be flipped.
Historically, holding above this level has been like winning a prize at a carnival – it means you’re in for a wild ride to higher and higher levels.
But, if LINK drops below this level, it’s like getting a punch in the gut – it could trigger selling pressure, and we’re talking bearish, bearish, bearish.
And if that happens, LINK could be headed for a retest of lower supports near and below $14, which is like a big, scary rollercoaster ride.
So, we’re watching the weekly close around this level like hawks, waiting to see which way the coin will land.
LINK’s ‘long tail’ tests key level
Now, let’s take a gander at LINK’s price action, shall we? It’s like a big, messy puzzle, but we think we see a shift in momentum.
LINK is staying above $18, which is like a big, fat thumbs-up from the market, confirming a bullish bias.
This support was tested critically by the long tail on LINK’s daily chart, and it’s like a big, shiny sword that’s been rejected – increasing buyer interest, and key resistance levels at $22 and $25.
But, failure to hold $18 as support could lead to a trend reversal toward $16.80, which is like a big, scary nightmare.
The MACD indicator is like a magic 8-ball – it’s showing rising bullish momentum, and the MACD line crossing above the signal line near $18 is like a big, fat checkmark.
However, volume is like a sleeping giant – it’s relatively low, indicating a need for stronger follow-through buying pressure to sustain the breakout.
So, if volume increases, it could be like a big, fat wake-up call, reinforcing LINK’s bullish trend and pushing it toward higher price targets.
Conversely, if the MACD histogram starts declining, it’s like a big, scary warning sign, signaling a slowdown in momentum and increasing the risk of a pullback to $17 and possibly $15.
But, if buyers sustain control above BMSB, LINK could continue its uptrend, and it’s like a big, shiny trophy – a confirmation of a strong bullish trend.
Profitability of global holders
Lastly, LINK trading at $18 showed that 76.79% of addresses were ‘in the money,’ which is like a big, fat pat on the back from the market, indicating strong support at the level.
Conversely, 15.73% of addresses were ‘out of the money’ at this level, which is like a big, scary warning sign, suggesting potential resistance if LINK fails to sustain above it.
Read Chainlink’s [LINK] Price Prediction 2025–2026
The ‘at the money’ percentage, around 7.47%, highlighted a transitional zone around $20.00—a critical pivot for future price direction.
If LINK maintains above BMSB, it could be like a big, shiny key, unlocking a bullish sentiment strengthening and potentially targeting upper levels.
Conversely, dropping below could see further drops for the altcoin, and it’s like a big, scary trap – you don’t want to fall in.
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2025-02-11 05:16