- LINK may be set to hit another high but the price might fall for before the hike.
- The token might drop to $14.78 where the $0.618 Fib level was.
- Open Interest increased, suggesting possible strength for the price to hit $20.
Chainlink’s (LINK) price might be ready for another climb as another round of its non-circulating supply hits the market, Lookonchain disclosed. According to the on-chain tracking platform, 15.95 million LINK was sent into Binance.
This transaction is something Chainlink does every three months, and a total of 95.95 million tokens have been sent since August 2022. Lookonchain also noted that each time this transfer happens, LINK’s price usually increases.
Chainlink Noncirculating Supply wallets deposited 15.95M $LINK($283M) to #Binance again 7 hrs ago.The wallets deposited $LINK to #Binance every 3 months since Aug 26, 2022, with a total of 95.95M $LINK($1.7B).
And most of the time the price will increase after the deposit. pic.twitter.com/UefqAU8Vpi
— Lookonchain (@lookonchain) February 3, 2024
LINK Got Overbought
At press time, LINK’s price was $17.73, representing a 25.59% increase in the last seven days. Furthermore, a …
The post Chainlink (LINK) Sets Its Eyes on Another Jump: Is $20 Possible? appeared first on Coin Edition.