Chainlink Shows Strength Amid Development and Accumulation
The Most Important Points at a Glance
Chainlink (LINK) demonstrates high development activity and ongoing accumulation by various investor groups. Despite short-term price declines, this could be a positive signal for the future. The resistance level at $17.45 remains crucial for a potential price rally.
Development Activity Remains High
Chainlink leads the DeFi sector (Decentralized Finance) in terms of development activity. According to data from Santiment, the ranking of the most active projects in this sector has remained unchanged in recent months. High development activity can indicate future innovations and increased network usage, which could influence the token’s value in the long run.
On-Chain Data Indicates Accumulation
An analysis of on-chain data shows that many investors – from retail traders to large whales – have been accumulating LINK in recent weeks. Particularly notable is the increase in the “Mean Coin Age” (MCA), which measures the average age of held tokens. A rising value suggests that fewer coins are being moved and are instead being held for the long term.
At the same time, the MVRV ratio (Market Value to Realized Value) indicates that many investors have experienced losses over the past three months. A negative MVRV value can be a buy signal, as it suggests that the market is undervalued.
Price Movements and Resistance Zones
The current price trend shows that support at $14.4 has held, while resistance at $17.45 remains difficult to break. If this resistance is surpassed, it could trigger a new upward movement.
Technical indicators such as the MACD (Moving Average Convergence Divergence) currently show a predominantly bearish trend, although slight positive signals are visible. The A/D indicator (Accumulation/Distribution) suggests that accumulation continues despite consolidation.
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Our Assessment
The combination of high development activity, increasing accumulation, and strong support at $14.4 suggests a potential price increase for LINK. However, the key factor remains whether the resistance level of $17.45 can be sustainably broken. As long as this breakthrough does not occur, short-term market sentiment remains cautious. In the long term, however, positive fundamentals could support a recovery.
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