Chainlink (LINK) Price Analysis for Today, September 23 – LINK Technical Analysis

Chainlink
(LINK)
has
drawn
attention
due
to
its
regular
token
unlock
events.
Despite
a
recent
increase
in
circulating
supply
from
the
18.75
million
LINK
tokens
unlocked
(worth
$215
million),
on-chain
data
suggests
the
possibility
of
a
price
rally.
History
shows
that
LINK
has
often
seen
upward
momentum
after
unlocks,
with
seven
out
of
the
last
eight
events
resulting
in
gains.

LINK
Key
Statistics 

• Current
  Price:
  $11.3
• Market
  Cap:
  $7.09
  billion
• Trading
  Volume
  (24h):
  $216.51
  million
• Circulating
  Supply:
  626.85
  million
  LINK
• Total
  Supply:
  1
  billion
  LINK
• CoinMarketCap
  Ranking:
  #14

Chainlink
is
currently
trading
10.62%
below
its
highest
price
in
the
last
30
days
and
3.48%
below
its
7-day
high.
However,
it
has
gained
21.28%
from
its
monthly
low
and
9.78%
from
its
7-day
low,

reflecting
an
overall
positive
trend.

LINK/USD
Market
Analysis 

Key
Levels 

Resistance:

$12,
$14,
$16

Support:

$10,
$9,
$8

The
LINK/USD
chart
shows
the
price
trading
within
the
Keltner
Channel
(KC),
with
LINK
currently
testing
the
upper
boundary.
This
indicates
potential
continued
upward
movement
if
the
token
can
break
through
the
$12
resistance.
The
MACD
indicator
further
supports
this
bullish
outlook,
with
the
blue
line
crossing
above
the
signal
line.

If
momentum
remains
strong,
LINK
could
challenge
the
$14
resistance
level,
with
an
additional
target
at
$16.
On
the
downside,
support
is
present
at
$10,
with
stronger
levels
around
$9.
A
failure
to
hold
these
levels
could
see
the
price
drop
to
$8,
the
lowest
point
observed
in
recent
months.

Will
Chainlink’s
Cross-Chain
Innovations
Drive
Its
Price
Beyond
$12?

Chainlink’s
development
in
cross-chain
functionalities,
coupled
with
the
recent
token
unlocks,
suggests
potential
price
growth.
The
token
unlock
event,
although
significant
in
supply,
has
historically
led
to
price
rallies,
as
observed
in
previous
instances.
Moreover,
Chainlink
still
holds
372.75
million
LINK
in
non-circulating
contracts,
reducing
the
risk
of
oversupply
in
the
market.

Chainlink
Could
Be
Set
For
A
Major
Surge
Soon

Partnerships
like
the
one
with
Metis
and
the
integration
of
Chainlink’s
Cross-Chain
Interoperability
Protocol
(CCIP)
across
decentralized
applications
(dApps)
further
enhance
its
ecosystem.
These
innovations,
paired
with
Chainlink’s
consistent
$1.5
billion
token
unlocks
since
August
2022,
position
it
for
sustained
growth.
If
market
conditions
remain
favorable,
LINK
could
push
towards
$12
and
beyond
in
the
coming
weeks.

LINK/BTC
Performance
Insight 

Chainlink
(LINK)
is
trading
at
0.0001786
BTC,
gaining
2.00%
over
the
last
24
hours.
The
pair
is
testing
the
upper
boundary
of
the
Keltner
Channel,
signaling
bullish
momentum.
Immediate
resistance
lies
at
0.000196
BTC,
with
potential
upside
toward
0.000220
BTC
if
buying
pressure
continues.
On
the
downside,
support
is
strong
at
0.0001696
BTC,
a
key
level
throughout
September.
A
breakdown
below
this
could
lead
to
further
retracement
toward
0.0001600
BTC.
Overall,
the
pair
remains
positive
with
potential
for
further
gains
against
Bitcoin.

Overall,
the
LINK/BTC
pair
is
exhibiting
a
positive
outlook,
with
potential
upside
as
long
as
market
conditions
remain
favorable.
The
increasing
use
cases
for
Chainlink’s
decentralized
oracle
services,
alongside
its
strategic
partnerships,
continue
to
provide
a
solid
foundation
for
future
price
appreciation
against
Bitcoin.

In
a
tweet,
@cryptogyanpatt
noted
that
Chainlink
is
outperforming
all
other
ERC20
projects,
including
Ethereum
itself.
As
a
leading
provider
of
oracle
services
on
the
Ethereum
blockchain,
Chainlink’s
strong
development
suggests
continued
improvements
in
its
offerings.
This
performance
underscores
its
vital
role
within
the
ERC20
ecosystem.

#Chainlink
outperforms
all
other
ERC20
projects,
including
Ethereum
itself.#ERC20
projects
use
a
common
standard
on
the

#Ethereum

#Blockchain.
Chainlink
provides
oracle
services
for
these
projects.
Its
strong
development
suggests
continued
improvements
in
its
services.#crypto

pic.twitter.com/rj3uCnEWEA

—
cryptogyanpatt
(@cryptogyanpatt)

September
23,
2024

Alternatives
to
Chainlink

Chainlink
continues
to
be
a
cornerstone
of
the
cryptocurrency
ecosystem,
providing
indispensable
oracle
services
that
bridge
smart
contracts
with
real-world
data.
Its
robust
cross-chain
interoperability
also
enhances
the
functionality
of
decentralized
applications.
Meanwhile,
innovative
projects
like

Pepe
Unchained
($PEPU)
are
making
waves
in
the
market.
The
project’s
remarkable
presale,
which
raised
over
$14.7
million,
and
upcoming
decentralized
exchange
(DEX)
launch
demonstrate
its
potential
for
substantial
growth.

By
combining
a
unique
approach
to
the
meme
coin
sector
with
Ethereum
compatibility,
Pepe
Unchained
presents
an
attractive
alternative
to
traditional
DeFi
platforms.
Investors
are
particularly
drawn
to
its
staking
protocol,
which
offers
a
projected
177%
annual
yield.
The
project’s
Impressive
community
support,
with
over
1
billion
$PEPU
staked,
and
discounted
presale
price
of
$0.00983,
further
solidify
its
position
in
the
market.
Moreover,
Pepe
Unchained’s
engaged
community
of
18,500
followers
underscores
its
growing
momentum.

Pepe
Unchained
Presale
Update

Following
a
comprehensive
analysis,

Pepe
Unchained
emerges
as
a
promising
investment
opportunity,
poised
for
significant
appreciation.
Its
robust
community
engagement
and
technological
advancements
position
the
project
for
sustained
success
in
the
dynamic
cryptocurrency
landscape.

Visit
Pepe
Unchained

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