Chainlink (LINK) Price Breaks $11 Post-Fed Rate Cut: What’s Next

Mitrade
Trending Articles
coverImg
Source: DepositPhotos

Chainlink’s (LINK) price has risen above $11 following the recent Fed rate cut. This increase has ignited fresh speculation about the coin’s short-term outlook.


In this analysis, BeInCrypto examines the factors contributing to the hike, the potential implications of the rate cut, and what traders can expect from LINK.


Chainlink Key Drivers Want More


According to Santiment, alongside the recent rate cut, Chainlink’s 90-day Mean Coin Age (MCA) has risen. The MCA reflects the average age of tokens in circulation, with a low MCA suggesting that previously inactive tokens are being moved from cold wallets, potentially leading to a sell-off and putting downward pressure on the price.


Conversely, a rising MCA indicates that investors are holding onto their tokens and engaging less in trading activity, often signaling a long-term hold strategy. In Chainlink’s case, the spike in the MCA suggests that many investors are choosing to keep their LINK tokens dormant or moving them into self-custody, reducing selling pressure.


Read more: How To Buy Chainlink (LINK) and Everything You Need To Know

Chainlink 90-Day Mean Coin Age. Chainlink 90-Day Mean Coin Age. Source: Santiment


Beyond the rising coin age, the 4-hour LINK/USD chart reveals a surge in the Cumulative Volume Delta (CVD), a key indicator of market sentiment. Each bar on the CVD shows whether the market is dominated by buying or selling activity. Red bars signal selling pressure, which could drive the price down.


In LINK’s case, the chart shows five consecutive green bars, indicating sustained buying pressure. This suggests that the market’s demand for LINK is growing, potentially supporting the continuation of its uptrend.

Chainlink Cumulative Volume Delta.Chainlink Cumulative Volume Delta. Source: TradingView


LINK Price Prediction: Further Gains


The daily chart shows that Chainlink is holding strong at the $10.02 support level, which played a key role in its recent breakout above the $10.83 resistance. Currently, LINK is trading at $11.30, with no significant resistance in sight to halt the uptrend.


Using Fibonacci retracement levels to assess potential price targets, LINK’s next likely move could take it to $11.86, corresponding to the 38.2% Fibonacci level. If it breaks past this point, the next target could be around $12.98, a level that appears within reach given the current momentum.


Read more: Chainlink (LINK) Price Prediction 2024/2025/2030

Chainlink Daily Analysis. Chainlink Daily Analysis. Source: TradingView


However, the cryptocurrency could experience a pullback if it fails to surpass $11.86. If that happens, LINK might drop to $9.25. 

Read more

  • WTI Oil returns above $60.00 amid US sanctions against Russian Crude
  • WTI Oil returns above $60.00 amid US sanctions against Russian Crude
  • * The content presented above, whether from a third party or not, is considered as general advice only.  This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.

    goTop
    quote
    Related Articles
    placeholder
    BNB Price Rebounds as Traders React to CZ’s Pardon — But One Roadblock RemainsBNB is up 4.4% in the past 24 hours, standing out as the only top-10 coin to post positive 30-day gains (+11%). The move follows Trump’s pardon of former Binance CEO Changpeng “CZ” Zhao.
    Author  Beincrypto
    9 hours ago
    BNB is up 4.4% in the past 24 hours, standing out as the only top-10 coin to post positive 30-day gains (+11%). The move follows Trump’s pardon of former Binance CEO Changpeng “CZ” Zhao.
    placeholder
    Bitcoin could see a sharp drop below $100,000 by weekend: Standard CharteredBitcoin (BTC) declined toward $107,000 on Wednesday, as Standard Chartered's Geoffrey Kendrick predicted an "inevitable" drop below $100,000.
    Author  FXStreet
    Yesterday 01: 46
    Bitcoin (BTC) declined toward $107,000 on Wednesday, as Standard Chartered's Geoffrey Kendrick predicted an "inevitable" drop below $100,000.
    placeholder
    Analysts compare Bitcoin to the Soybean crash, predict sharp moves aheadAnalyst notes that the BTC price movement mirrors the Soybean price ahead of its 1977 crash, when it declined 50% in value.
    Author  FXStreet
    Oct 22, Wed
    Analyst notes that the BTC price movement mirrors the Soybean price ahead of its 1977 crash, when it declined 50% in value.
    placeholder
    Top 3 Price Prediction: BTC struggles below key resistance, ETH and XRP eye further weaknessBitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
    Author  FXStreet
    Oct 22, Wed
    Bitcoin (BTC) price steadies around $108,500 at the time of writing on Wednesday, after facing rejection from the key resistance level the previous day. Ethereum (ETH) and Ripple (XRP), following BTC’s footsteps, are signaling weakness and hinting at a correction ahead.
    placeholder
    BlackRock helping Bitcoin whales transition their holdings toward ETFsBlackRock is reportedly helping Bitcoin whales pivot to Wall Street by facilitating equal conversion of their coins to ETF shares.
    Author  FXStreet
    Oct 22, Wed
    BlackRock is reportedly helping Bitcoin whales pivot to Wall Street by facilitating equal conversion of their coins to ETF shares.
    Live Quotes
    Name / SymbolChart% Change / Price
    LINKUSD
    LINKUSD
    0.00%0.00
    BTCUSD
    BTCUSD
    0.00%0.00
    ETHUSD
    ETHUSD
    0.00%0.00

    cryptocurrency Related Articles

    • Trading Chart Patterns:Ultimate Guide to Price Action
    • How to Day Trade Crypto? Simplest Day Trading Strategy Ever
    • Places that Provide Cheapest Ways to Buy Bitcoin In 2025
    • 10 Best Crypto With Most Potential to Buy and invest in 2025 - Top Picks from Expert Traders
    • What is Starknet (STRK)? Value of Starknet Coin and Project Development
    • How To Buy Bitcoin In Malaysia? Top 7 Best Crypto Exchanges & Trading Apps

    Click to view more