Summary
TLDR: Chainlink’s price rallied 20% after Bitcoin’s halving event, but now faces a crucial barrier. Investors may sell to secure profits, potentially driving the price lower. The MVRV ratio suggests profit, prompting sales. If LINK breaks $15.6 resistance, it could rally to $18. Always do your own research before making financial decisions.
Key Points
1. Chainlink’s price felt the bullishness of the Bitcoin halving event more than BTC itself, which was visible in its 20% rally.
2. Chainlink Investors Might Move to Sell as the recent correction brought the total LINK supply in profit down from 84% to 70%, potentially triggering selling to secure gains.
3. LINK Price Prediction: Beating the Barrier – Chainlink’s price rallied by 20% over the weekend, facing a crucial barrier at $15.6. If holders move to sell, a potential decline could test support levels at $14.6 and $13.4.