Prix de Pyth NetworkPYTH

$PYTH testing key support again Watching for a reclaim of structure - if that happens, easy ride to the next supply zone

$PYTH is sitting at a key demand zone, showing signs of potential reversal With liquidity sweep below recent lows and price consolidating, we could see a strong bounce from this level

New edition of the Rekt Capital Newsletter is live I share an Altcoin Market Update Features analysis on the following Altcoins: $TAO $APT $KAS $THETA $PYTH $XMR Sign up to read it here:

Chainlink’s $LINK price has seen a significant downturn, continuing a decline that began after reaching a multi-year high of $30.78 in December. The altcoin fell to $17.4, marking a 43% drop from its peak, in line with a broader market pullback among cryptocurrencies. Despite the downturn, Three critical factors that could fuel a price recovery for LINK in 2025. These include investor sentiment, Chainlink’s dominance in the Oracle industry, and strong technical indicators supporting a potential rebound. Chainlink Holders Show Confidence Amid Price Drop On-chain data indicates that many Chainlink holders are choosing not to sell their holdings, suggesting a bullish long-term outlook. CoinGlass data shows that LINK balances on centralized exchanges have dropped to 138.8 million, the lowest level since September. This decline from 160 million in December signals that investors are moving tokens into self-custody, reducing immediate selling pressure. Market optimism is also linked to speculation about regulatory developments. Analysts anticipate that the Securities and Exchange Commission (SEC) could approve a spot LINK exchange-traded fund (ETF) later this year. If approved, such a fund would attract institutional inflows, increasing demand and potentially pushing LINK’s price higher. Chainlink continues to dominate the Oracle network sector, securing a total value of $35 billion across its services. Competing projects such as Chronicle, Pyth, and RedStone lag significantly behind, reinforcing LINK’s market leadership. The project’s cross-chain interoperability protocol (CCIP) plays a crucial role in the tokenization of real-world assets, offering seamless connectivity across multiple blockchain networks.The growing adoption of CCIP strengthens Chainlink’s role in decentralized finance (DeFi) and institutional blockchain solutions. LINK Tests Key Support as Technicals Show Signs of Stabilization Chainlink’s price action has turned volatile, with the token testing a crucial accumulation zone between $14.50 and $15.50. Despite a sharp 43% decline since November 2024, LINK has managed to stay above its 100-week Exponential Moving Average (EMA), offering hope for a potential rebound. Technical indicators suggest oversold conditions, with the Relative Strength Index (RSI) dropping to 29.60. Analysts believe this could lead to a short-term recovery if buying pressure increases, and LINK could potentially hit $50. The price recently dipped below the key support zone but has shown signs of stabilization, indicating possible accumulation by investors. If LINK holds this range, a move toward the 200-day EMA at $18.09 and the 50-day EMA at $19.78 is possible. A further push could take the token to $21.72, aligning with historical resistance levels. However, failure to maintain support could expose LINK to deeper losses. Chainlink’s current price action aligns with a broader market downtrend, adding to uncertainty. Meanwhile, on-chain data reveals that nearly 610,000 LINK tokens were moved to exchanges within the last 24 hours, signaling increased selling pressure from large holders. If this trend continues, LINK could face additional downside risks. Despite the bearish sentiment, technical patterns suggest a possible bullish breakout if LINK rebounds. Investors are closely watching for volume confirmation to determine whether the market is entering a reversal phase or continuing its decline.

In December 2024, Chainlink’s price reached a multi-year high, peaking at $30.78. Since then, its price has been on a downtrend, putting investors on edge. At the time of writing, on February 22nd, Chainlink’s price has fallen by 43% and is hovering around $17.4. However, broader market analysis thinks this sharp decline is not concerning and is part of the current slump that has gripped the market. Some analysts claim that the token might bounce back in the later part of this year. Here is why: Is A Rebound Coming? According to data presented by LINK, holders have not released the coin abruptly in the market. Subsequently, CoinGlass’s data suggests that the exchanges’ balances are falling. Data shows that the balance has fallen to just 138.8 million LINK coins. This is the lowest since last September, when the balance fell to 160 million. Which subsequently turned into a major peak. The gradual decline of the centralized exchange balances shows investors are optimistic about the coin. As a result, they hold the coin in the hopes of maximizing profit. Sources suggest this is primarily because most investors expect the US Securities and Exchange Commission or SEC to approve spot LINK ETF. This approval will mean a lot as it can skyrocket the token’s price. Another factor that could cause a rebound is how LINK has positioned itself in the market. At the time of writing, LINK is one of the biggest oracle networks. This network has secured a total value of $35 billion. LINK is much bigger than Oracle networks like RedStone, Pyth, and Chronicle. Furthermore, LINK is also a pioneer in the real-world asset tokenization industry, using its cross-chain interoperability protocol (CCIP). Therefore, these factors could skyrocket the token’s price in the coming month(s). Pricing Analysis LINK is currently showing strong technicals. The weekly chart shows that the token is hovering slightly over the 100-week Exponential Moving Average despite crashing by 43%. Analysts claim that the initial rebound target of the token would be $30, followed by a retracement point of $35. Then again, the market is volatile, and pricing can go either way, so keep your hopes tempered. The post Invest Or Not: Chainlink Price Can Hit A Rebound In The Coming Month(s) appeared first on Coinfomania.