Senator McCormick Invests $1M in Bitcoin ETF Just Before Trump’s Strategic Reserve Plan

The post Despite a 15% Upswing, Bearish Clouds Continue to Hover Over the Chainlink (LINK) Price Rally—Here’s Why! appeared first on Coinpedia Fintech News

Ever since Trump’s tariff war was reinstigated, the crypto markets have shaken a bit. The star token Bitcoin price faced massive upward pressure, dragging the levels below $79,000. Besides, the Chainlink price also plunged from the local highs at $17 to $13, while the bulls quickly triggered a strong rebound. This may suggest a rise from a bearish influence, but in the wider perspective, bearish clouds continue to hover over the LINK price rally as the token has yet to enter the demand zone. 

Does this suggest Chainlink may validate a fakeout? Will the LINK price drop below $10? 

The LINK price gained immense attention ever since it broke out from the prolonged consolidation in 2023. Since then, the price has maintained a healthy ascending trend and marked interim highs above $30. However, the bullish dominance over the rally faded, causing the price to plunge close to $13. Currently, the price has triggered a rebound from the lows, but a couple of factors suggest the price is still under massive bearish pressure.  

Data from Santiment suggests the whales have halted accumulating LINK, which raises concerns over the next price action. 

The above chart shows that the supply held by the top LINK addresses has halted accumulating the tokens since mid-December. Before this, the whales had been constantly accumulating the tokens and a sudden halt in the accumulation suggests the decrease in the confidence of the whales. Currently, the top 5 wallets are holding nearly 18.15% of the entire supply, worth nearly $2.93 billion. Meanwhile, it may also be considered as the whales stacking the tokens, aiming to prepare for a big move. 

Will LINK Price Rise Above $20 or Drop Below $10?

The LINK price has been forming constant lower highs and lows, indicating the rising strength of the bears. Although the bulls have triggered a bullish rebound, the price continues to remain under bearish influence until the token does not clear a pivotal resistance zone. The price rose above $16.5 in the early trading hours but quickly faced a 5% pullback, suggesting a strong presence of the bears. 

The price has triggered a strong rebound but is expected to trade within a consolidated zone. The DMI is preparing for a bullish crossover, but the ADX is preparing for a bearish divergence. Besides, the RSI remains elevated, hinting towards the growing strength of the rally. On the other hand, the volume remains restricted below the average levels, hinting towards a drop in the volatility. Therefore, the Chainlink (LINK) price is believed to accumulate within a narrow range for a while and may trigger a bullish rebound once the buying pressure increases. 

Although the bullish potential remains lower, the LINK price is not subjected to dropping to $10 as the market sentiments have not turned completely bearish. Therefore, after choppy behaviour, the Chainlink price is believed to trigger a huge breakout to $20. 

The post Despite a 15% Upswing, Bearish Clouds Continue to Hover Over the Chainlink (LINK) Price Rally—Here’s Why! appeared first on Coinpedia Fintech News
Ever since Trump’s tariff war was reinstigated, the crypto markets have shaken a bit. The star token Bitcoin price faced massive upward pressure, dragging the levels below $79,000. Besides, the Chainlink price also plunged from the local highs at $17 to $13, while the bulls quickly triggered a strong rebound. This may suggest a rise …

Jelly-My-Jelly (JELLY JELLY) has spiked by over 100% over the last hour but the surge in value is triggering a wave of anxiety for Hyperliquid Vault. The automated market maker is in the middle of a short squeeze and could lose a fortune if the Solana memecoin continues to surge.

Solana Memecoin Threatens Hyperliquid Vault’s Holdings

According to a post by Wu Blockchain, Hyperliquid Vault is facing the possibility of a grim liquidation of its position. The decentralized exchange is in the middle of a short squeeze of JELLY JELLY after taking up the short position from a trader who voluntarily liquidated his position.

At the moment, Hyperliquid Vault is grappling with an unrealized loss of over $9 billion since betting against the Solana memecoin. Hyperliquid will lose over $230 million to the Solana memecoin short squeeze should prices spike to over 1 cent.

“If jellyjelly reaches $0.15374, Hyperliquid Vault will lose its entire $230 million in funds,” said Wu Blockchain.

JELLY JELLY has risen by over 200% at press time and currently trades at $0.04281. Meanwhile, transaction volume has surged by 412% in hours as the battle between the short sellers and long buyers continues to rage. For Hyperliquid, things are even grimmer given the frenetic pace of the Solana memecoin short-squeeze.

Report of the short

The post How Hyperliquid Vault Risks Losing $230M Following This Solana Meme Coin’s Surge appeared first on CoinGape.

The post Chainlink (LINK) Poised for 22% Price Decline, Here’s Why  appeared first on Coinpedia Fintech News

Amid the ongoing confusion in the cryptocurrency market, Chainlink’s native token LINK has shown bearish price action and is poised for a decline. However, the current market sentiment remains bearish, with top assets like Bitcoin (BTC), Ethereum (ETH), and XRP also experiencing notable price declines.

This downturn is potentially influencing overall market sentiment.

Chainlink (LINK) Technical Analysis and Upcoming Levels 

According to expert technical analysis, LINK appears to be forming a bearish double-top pattern on the four-hour timeframe. While this pattern is yet to be complete, the chart also shows a bearish divergence, further supporting this negative outlook.

Based on historical price momentum, if the asset closes below the $16.15 level, there is a strong possibility of a 22% decline, bringing it down to $12.75 in the coming days. A bearish divergence occurs when the Relative Strength Index (RSI) and the double-top pattern align, specifically when the pattern’s tops are parallel while the RSI’s tops decline.

Current Price Momentum

Following the formation of the pattern, the asset has begun moving downward. LINK is currently trading near $16.31 and has dropped 4.5% in the past 24 hours. Meanwhile, its trading volume has surged by 12%, indicating increased participation from traders and investors compared to the previous day.

Traders Lean Bearish

With the ongoing price decline and bearish price action, intraday traders seem to be following the current market sentiment, strongly betting on the bearish side, as reported by the on-chain analytics firm Coinglass.

Data reveals that traders are currently over-leveraged, with key levels at $16 on the lower side and $17.50 on the upper side for both bulls and bears. At these levels, they have built $4 million worth of long positions and $10 million worth of short positions, indicating that bears are currently dominating and could push LINK’s price even lower.

The post Chainlink (LINK) Poised for 22% Price Decline, Here’s Why  appeared first on Coinpedia Fintech News
Amid the ongoing confusion in the cryptocurrency market, Chainlink’s native token LINK has shown bearish price action and is poised for a decline. However, the current market sentiment remains bearish, with top assets like Bitcoin (BTC), Ethereum (ETH), and XRP also experiencing notable price declines. This downturn is potentially influencing overall market sentiment. Chainlink (LINK) …