Prix de Chainlink on SolLINK

#Chainlink's $LINK Slips to 6-Week Low, but Potential Trend Shift Has Emerged

$LINK is holding strong with rising demand for its oracle network. $ATOM keeps gaining traction as activity on Cosmos expands.

Chainlink (LINK) reserve added 47,903.09 LINK on Thursday, increasing total holdings to 371,019 LINK. However, the buyback failed to shield the price as LINK dropped 6.76%. On Friday, LINK shows a modest rebound of over 1%, currently battling to reclaim the 100-day EMA at $20.48. Yet, data from CoinGlass highlights a 2% drop in Open Interest (OI) within 24 hours, now at $1.22 billion. This cooling in derivatives activity suggests that traders are stepping aside, with sentiment leaning risk-off. If the weakness continues, LINK may fall back to test the 200-day EMA at $18.70. Momentum indicators reinforce this bearish outlook — the RSI at 36 edges toward oversold levels, while the MACD continues its downward slope, showing mounting selling pressure. On the flip side, a decisive daily close above the 100-day EMA could shift momentum, opening the door for a rally toward the 50-day EMA at $22.20. Chainlink’s near-term direction now hinges on whether buyers can defend support levels and counter the ongoing bearish momentum. $LINK

The crypto sector has gone through a staggering loss over the past 24 hours. In this respect, a wipeout of up to $170B has taken place in the crypto industry, with the prominent targets being Bitcoin ($BTC ), Ethereum ($ETH ), Ripple ($XRP ), and Solana ($SOL). As per the crypto data and analytics provider, Watcher Guru, this sudden shift has resulted from the widespread sell-offs as well as investor anxiety. Hence, the ongoing crypto downturn has triggered speculation on the potential reversal or continuation of this correction. Crypto Sector Incurs $170B Loss as Bitcoin and Ethereum Record 3.74% and 6.21% Dips The market statistics reveal that the crypto industry has incurred a stunning $170B wipeout over twenty-four hours. The declining investor sentiment and the subsequent crypto sell-offs have played the role of chief factors leading to this wipeout. Particularly, the leading crypto asset, Bitcoin ($BTC) has witnessed a -3.74% drop in the meantime. Apart from that, the top altcoin, Ethereum ($ETH) has also witnessed a noteworthy plunge. This has resulted in a loss of nearly -6.21% over the same period. The drop seems to be a significant bearish indicator, at least in the short term. Thus, this wave of uncertainty raises caution among the market particaipants. Altcoin Landscape Extends Market Downturn with $XRP, $SOL, and BNBLeading in Losses Simultaneously, the other prominent names among in the altcoin sector take into account Ripple ($XRP), Solana ($SOL), and Binance Coin ($BNB). In this respect, $XRP recorded a -6.71% dip, while $SOL and BNB accounted for -6.85 and -5.91% decrease. This shows a broader pullback, including Bitcoin, altcoins, and memecoins, appears unusual and massive, indicating considerable possibilities regarding a bearish continuation. Additionally, Sui ($SUI), Cardano ($ADA) and Chainlink ($LINK) have also seen noteworthy decreases amid this broader crypto downturn. Specifically, $SUI went through a -6.54% drop while $ADA and $LINK saw -6.11% and -6.55% slumps. Overall, while this crypto market recalibration raises concerns, it also provides a great opportunity for the long-term investors to buy the dip and prepare for a potential leg up.