2025-03-05 12:30:45 by AMBCrypto

Journalist Share this article LINK’s decline to $13.18 marked a 13.6% correction from $15.25, following a previous high of $16.34. LINK’s Fibonacci retracement levels highlighted critical zones, including 0.236 at $14.17, 0.382 at $14.50, and 0.618 at $15.00. Chainlink [LINK] recently rebounded following a market-wide downturn, recovering from $13.18 to $15.25 amid increased volatility and trading volume. The surge in wallet holdings and high-volume activity suggests institutional accumulation or renewed investor confidence. LINK’s decline to $13.18 marked a 13.6% correction from $15.25, following a previous high of $16.34. The sharp downturn suggested profit-taking after a strong rally. Source: CoinGlass Historical patterns in altcoins like Ethereum suggested similar pullbacks often led to price stabilization. If support holds at $13.18, the correction may strengthen LINK’s market positioning. LINK’s rebound Past $15.25: Strength or another trap? LINK’s 15.8% recovery to $15.25 suggested strong demand. The Fibonacci retracement levels highlighted critical zones, including 0.236 at $14.17, 0.382 at $14.50, and 0.618 at $15.00. Its ability to surpass the $15.00 threshold signaled strength. If momentum persists, the next target could be $16.34. However, failure to hold above $15.00 could lead to a retracement toward $14.50 or $13.18. Volume analysis reinforced the breakout, as it reached 25.137M at press time, doubling the 9-day SMA of 12.568M. Such increases typically accompany strong trends. Thus, sustained volume above 25M may drive LINK toward $17.00. The MACD indicator provided further confirmation, shifting from a bearish 0.335 reading during the $13.18 dip to 0.190, with a bullish crossover at 0.145. The widening histogram bars suggested growing momentum. The ROC climbed to 10.78, reflecting renewed price momentum. This move mirrored past recoveries, such as the 8.5% ROC rise in February 2025, which led to further gains. Also sustained ROC above 10 could drive LINK toward $16.34, while a decline below 5 might indicate weakening momentum, increasing the risk of a drop to $13.50. LINK’s market sentiment LINK’s Open Interest ranged from 4.597M to 4.92M, with a peak at 4.92M coinciding with the $15.25 rebound, suggesting new long positions. The decline to 4.59M during the $13.18 low indicated liquidations and position closures. The pattern resembled Bitcoin’s open interest shifts during volatile market phases. Rising open interest at $15.25 suggested bullish sentiment. Sustained growth above 4.92M could propel LINK to $16.34. However, a decline below 4.59M might indicate renewed selling, potentially pushing LINK to $13.00. Monitoring open interest fluctuations is crucial for gauging market sentiment shifts. Buying pressure vs. Selling strength LINK’s aggregated spot cumulative volume delta (CVD) fell from -3.7M to -6.653M during the $13.18 drop, signaling strong selling. A recovery to -3.653M at $15.25 reflected a shift toward accumulation, reducing selling pressure. The 3M CVD shift indicated buyers were stepping in. A positive CVD move above -3M could confirm bullish control, potentially pushing LINK toward $16.34. Conversely, a fall below -6.653M may lead to renewed selling pressure, bringing LINK back to $12.00. Finally, LINK’s price action highlighted increased volatility, with a 13.6% correction followed by a 15.8% rebound. Key indicators suggest a potential upside, targeting $16.34-$17.00 if momentum sustains. Share