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ChainLink is traded at decisive demand levels after days of unification without a $ 20 mark, struggling to restore momentum amid uncertainty in the broader market. The entire encryption market faced increased fluctuations and disturbances after weeks of sale pressure. Investors remain prepared after Friday by BYBIT HAC, which has been stolen at a value of $ 1.5 billion, which increases fear and warned at the market level.
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Despite uncertainty, chainlink shows signs of strength. The main data from Glassnode reveals that the growth of the Chainlink network is accelerating, with a high number of new $ correlation addresses to 2,298 – the highest level since January. This rise in the network activity indicates increased adoption and renewed attention from investors, which may indicate a transformation of morale in the encrypted currency based on Oracle.
As ChainLink continues to unify the main demand levels, traders are closely monitored for potential penetration. A strong recovery in the growth of the network can be translated into high purchase pressure, which helps to restore critical resistance levels and get out of its current range. However, if the emotional feelings persist, Link may struggle to maintain support, which leads to more negative side. With the market at a focal point, the coming days will be very important in determining whether Chainlink can take advantage of the growing network activity and pay higher.
Chainlink grows amid uncertainty
Chainlink continued to expand despite uncertainty in the wider market and fluctuations, indicating resilience even as prices are struggling to break higher than the main resistance levels. While many Altcoins have faced great pressure in the sale in recent weeks, LINK has kept higher than the decisive demand areas, while maintaining its location as the best performance project in the Oracle sector.
One of the main engines of ChainLink power is its continuous strategic partnership, including its cooperation with XRP, which highlights the increasing demand for reliable non -central data solutions in Blockchain space.
With the emergence of the market forward, ChainLink investors remain optimistic about the project's capabilities in 2024. Many analysts expect LINK to have a bullish year, with an increase in appreciation for prices. Senior analysts Ali Martinez participated Glassnode data on xWith the disclosure that the growth of the Sainlink network is highly accelerated.
The number of new links has increased to 2,298, its highest level since January. This increase in the network's activity indicates the increasing interest and adoption of the investor, both of which are usually ups in prices for prices.
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With this increasing momentum, Chainlink appears to put himself as one of the most promising projects in the encryption industry. If this trend continues, LINK may witness a large gathering in the coming months, which enhances its role as a decisive infrastructure component of decentralized applications and smart contracts.
Price procedure details: Decisive demand test
ChainLink (Link) is currently trading at $ 17 after multiple attempts to restore the 200 -day SIA moving average (EMA) around the level of $ 18. The bulls face a critical moment where LINK is combined without resisting the keys, and struggles to get enough momentum to penetrate. If buyers enter and restore $ 18, the next main obstacle will be the $ 20 psychological mark. The strong batch above this level can lead to an aggressive crowd to the highest price targets, which paves the way for continued ascension.
However, if LINK fails to keep the support level of $ 17, the price may face renewable sale, which leads to a possible decrease in low demand areas. Given the current uncertainty in the market, investors closely monitor these levels to determine the next directional step. The recent increase in New ChaINLINK addresses indicates, as Glassnode said,
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In the coming days, all eyes will be on whether LINK can create power higher than EMA for 200 days and restore a brand of $ 20. The decisive collapse would confirm the bullish momentum, while the additional downside may indicate a long unification or a possible re -test of low support levels.
Distinctive image from Dall-E, the tradingView graph
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