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      Chainlink (LINK) – The Price drops almost 10%. - Stocks Telegraph

      By Ammar Mukhtar

      Published on

      December 11, 2021

      6:54 PM UTC

      Chainlink (LINK) – The Price drops almost 10%. - Stocks Telegraph

      At the time of writing this article, LINK has a value of $19.44 (3.11% decrease today) with a trading volume of $1,184,377,497 with a decrease of about 15.08% over the past 24 hours. Among the coins that have lost a lot. Link is one of the top losers.

      LINK is listed on coinmarketcap in 22nd place. It has a market dominance of about 0.41%. LINK had created its all-time high around the price of $53 in May 2021 and later fell down to the price of $13.38 in July.  This month has been bearish for the price and we have seen a decrease of about 21.53% in December. November was also bearish for the price and we saw a drop of about 15% in the price.

      The maximum supply of LINK is around 1B while the current circulating supply is around 467M coins.

      Technical Analysis – Chainlink (LINK)

      It can be seen that on the daily time frame, LINK had shown a reversal in the structure a few weeks ago. This happened when the price failed to create another high and faced massive rejection at the top. This can be seen in the chary clearly.

      The price had also left an imbalance while falling down. As a result of this move downwards, LINK had created a daily order block, that hasn’t been mitigated right now. Now the price is now falling down. We can see that the price has had a massive buying at the bottom and a big wick has been created. This left an imbalance on the downside as well.

      LINK - 1D

      Now the possible points to notice are the presence of imbalance below and the order block that is present above with the equilibrium for the consolidation present there two. The price can show two movements at that point. The first is that the price of LINK would reverse from the equilibrium position and drop down to touch the imbalance zone around the wick. The price can also do a possible fake-out, but the chances are that if it gets there, it will drop down.

      The second possibility is that the price could move towards the daily order block. From this point, two different scenarios should be taken into consideration. To look for a possible good entry setup, lower time confirmations should be taken into consideration.

      Price Prediction – Chainlink

      According to wallet investor, LINK is one of the most successful investments in the market. According to their predictions, LINK is expected to reach a value of $34.914 in a time span of one year. For a five-year plan, the price is expected to reach a value of $99.066.

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