{"id":12480,"date":"2022-11-22T04:52:42","date_gmt":"2022-11-22T08:52:42","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12480"},"modified":"2022-11-22T04:52:42","modified_gmt":"2022-11-22T08:52:42","slug":"chainlink-rally-in-social-activity-hits-ath-of-44173-will-link-price-climb-as-well","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/22\/chainlink-rally-in-social-activity-hits-ath-of-44173-will-link-price-climb-as-well\/","title":{"rendered":"Chainlink Rally In Social Activity Hits ATH Of 44,173 \u2013 Will LINK Price Climb As Well?"},"content":{"rendered":"

There has been an expected uptick in the Chainlink protocol\u2019s optimism recently. This is due to the fact that the BUILD program is a part of Chainlink\u2019s next protocol upgrade, Chainlink Economics 2.0.<\/a><\/p>\n

The initial 10\u00a0BUILD<\/a> program projects were announced on Chainlink\u2019s official Twitter account. This clearly increased the amount of online discussion on the project.<\/p>\n

Chainlink\u2019s native token LINK\u2019s social activity has increased from 35,540 yesterday to 44,173, and it\u2019s likely to continue rising<\/a> in the days ahead.<\/p>\n

Give a welcome to the first 10 #Chainlink<\/a> BUILD projects:@SpaceandTimeDB<\/a>@truflation<\/a>@bitsCrunch<\/a>@KryptonProtocol<\/a>@InterestDeFi<\/a>@Galaxisxyz<\/a>@mycelium_xyz<\/a>@Dolomite_io<\/a>@caskprotocol<\/a>@chainml_<\/a><\/p>\n

Building the future of Web3? Take your dApp to the next level: https:\/\/t.co\/uIUNQltMbO<\/a> pic.twitter.com\/29oCUSQFVP<\/a><\/p>\n

\u2014 Chainlink (@chainlink) November 18, 2022<\/a><\/p>\n

Connecting the Dots<\/strong><\/h2>\n

Unfortunately, the price of LINK has not reflected the company\u2019s strong social performance. CoinGecko statistics shows that LINK is still giving off critical sell signals. The token\u2019s current price of $5.70\u00a0doesn\u2019t help, either.<\/p>\n

According to data compiled by CryptoQuant<\/a>, however, the amount of tokens held in exchange have substantially dwindled during the past several days.<\/p>\n

Oversold RSI and Stoch RSI readings, together with other positive indicators, point to a likely trend reversal in the next several days.<\/p>\n

As the situation improves, the commodities channel index is also rising, indicating a likely improvement in asset confidence. However, LINK\u2019s DMI remains negative with a -DMI of 25.54 and an ADX of 26.<\/p>\n

According to the RSI and Stoch RSI readings, this indicates that the downtrend is still strong and that a little reversal is unlikely.<\/p>\n

In spite of the negative market, these factors show what appears to be a bright near future for LINK.<\/p>\n

LINK\u2019s price action is located at the bottom of the central Bollinger band, indicating volatility. This means that the price will continue to decline from its current market position.<\/p>\n

Chaikin\u2019s money flow index indicates total bearish control at -0.13, although MFI readings follow LINK\u2019s RSI, further indicating an imminent pullback.<\/p>\n

The Unstable Link<\/strong><\/h2>\n

Although there are numerous indicators suggesting that the token will rally, there are also numerous technical indicators pointing to\u00a0a bleaker future for LINK.<\/p>\n

Knowing this, proceeding with caution and keeping an eye on the leading cryptocurrencies can aid in making a buy-or-sell choice.<\/p>\n

Nonetheless, investors and traders should not anticipate a relief rally at this time. Expect more pain in LINK as the bear market continues, but this little respite will give LINK holders hope for a positive long-term outlook.<\/p>\n\n

LINK total market cap at $2.9 billion on the weekend chart | Featured image from Medium, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

There has been an expected uptick in the Chainlink protocol\u2019s optimism recently. This is due to the fact that the BUILD program is a part of Chainlink\u2019s next protocol upgrade, Chainlink Economics 2.0.<\/a><\/p>\n

The initial 10\u00a0BUILD<\/a> program projects were announced on Chainlink\u2019s official Twitter account. This clearly increased the amount of online discussion on the project.<\/p>\n

Chainlink\u2019s native token LINK\u2019s social activity has increased from 35,540 yesterday to 44,173, and it\u2019s likely to continue rising<\/a> in the days ahead.<\/p>\n

Give a welcome to the first 10 #Chainlink<\/a> BUILD projects:@SpaceandTimeDB<\/a>@truflation<\/a>@bitsCrunch<\/a>@KryptonProtocol<\/a>@InterestDeFi<\/a>@Galaxisxyz<\/a>@mycelium_xyz<\/a>@Dolomite_io<\/a>@caskprotocol<\/a>@chainml_<\/a><\/p>\n

Building the future of Web3? Take your dApp to the next level: https:\/\/t.co\/uIUNQltMbO<\/a> pic.twitter.com\/29oCUSQFVP<\/a><\/p>\n

\u2014 Chainlink (@chainlink) November 18, 2022<\/a><\/p>\n

Connecting the Dots<\/strong><\/h2>\n

Unfortunately, the price of LINK has not reflected the company\u2019s strong social performance. CoinGecko statistics shows that LINK is still giving off critical sell signals. The token\u2019s current price of $5.70\u00a0doesn\u2019t help, either.<\/p>\n

According to data compiled by CryptoQuant<\/a>, however, the amount of tokens held in exchange have substantially dwindled during the past several days.<\/p>\n

Oversold RSI and Stoch RSI readings, together with other positive indicators, point to a likely trend reversal in the next several days.<\/p>\n

As the situation improves, the commodities channel index is also rising, indicating a likely improvement in asset confidence. However, LINK\u2019s DMI remains negative with a -DMI of 25.54 and an ADX of 26.<\/p>\n

According to the RSI and Stoch RSI readings, this indicates that the downtrend is still strong and that a little reversal is unlikely.<\/p>\n

In spite of the negative market, these factors show what appears to be a bright near future for LINK.<\/p>\n

LINK\u2019s price action is located at the bottom of the central Bollinger band, indicating volatility. This means that the price will continue to decline from its current market position.<\/p>\n

Chaikin\u2019s money flow index indicates total bearish control at -0.13, although MFI readings follow LINK\u2019s RSI, further indicating an imminent pullback.<\/p>\n

The Unstable Link<\/strong><\/h2>\n

Although there are numerous indicators suggesting that the token will rally, there are also numerous technical indicators pointing to\u00a0a bleaker future for LINK.<\/p>\n

Knowing this, proceeding with caution and keeping an eye on the leading cryptocurrencies can aid in making a buy-or-sell choice.<\/p>\n

Nonetheless, investors and traders should not anticipate a relief rally at this time. Expect more pain in LINK as the bear market continues, but this little respite will give LINK holders hope for a positive long-term outlook.<\/p>\n

LINK total market cap at $2.9 billion on the weekend chart | Featured image from Medium, Chart: TradingView.com<\/a><\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-12480","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12480","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=12480"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12480\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12480"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12480"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12480"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}