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

  • Crypto Bulls Cheer as Fed Pivot Hopes Rise and Quantitative Tightening Nears Its End
  • Meta Q3 Earnings Preview: The AI Advertising Boom vs. The Capex Surge
  • Google Q3 Earnings Preview: Ads as Foundation, AI as Sword — Can TPU Commercialization Drive a Re-Rating?
  • BNB Price Rebounds as Traders React to CZ’s Pardon — But One Roadblock Remains
  • * 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
    Bitcoin Beats The Euro — France Chooses Crypto Over CBDCFrance’s National Assembly moved to block European Central Bank’s planned digital euro and to favor Bitcoin and euro stablecoins.
    Author  Bitcoinist
    10 hours ago
    France’s National Assembly moved to block European Central Bank’s planned digital euro and to favor Bitcoin and euro stablecoins.
    placeholder
    Crypto market declines as $150 million long liquidations follow Donald Trump, Xi meetingThe cryptocurrency market fails to rally amid US President Donald Trump’s discussion with Chinese President Xi Jinping in South Korea on Thursday, regarding trade barriers.
    Author  FXStreet
    12 hours ago
    The cryptocurrency market fails to rally amid US President Donald Trump’s discussion with Chinese President Xi Jinping in South Korea on Thursday, regarding trade barriers.
    placeholder
    Bitcoin, cryptos fail to rally as Fed Chair sparks cautious sentimentBitcoin declined from $115,000, reaching the $110,000 key level on Wednesday, after the Fed signaled cautious sentiment despite delivering a widely anticipated 25 bps rate cut at its October meeting.
    Author  FXStreet
    13 hours ago
    Bitcoin declined from $115,000, reaching the $110,000 key level on Wednesday, after the Fed signaled cautious sentiment despite delivering a widely anticipated 25 bps rate cut at its October meeting.
    placeholder
    Crypto Bulls Cheer as Fed Pivot Hopes Rise and Quantitative Tightening Nears Its EndPrediction markets are pricing in a 98% chance that the Federal Reserve (Fed) will deliver a 25 basis point rate cut at its late October meeting.
    Author  Beincrypto
    Yesterday 08: 50
    Prediction markets are pricing in a 98% chance that the Federal Reserve (Fed) will deliver a 25 basis point rate cut at its late October meeting.
    placeholder
    Solana Price Forecast: SOL hits key resistance ahead of Bitwise, Grayscale Solana ETFs launchSolana (SOL) price edges higher by over 1% at press time on Tuesday, recovering on the announcement of Bitwise Solana Staking Exchange Traded Fund (ETF)  launching on Wednesday.
    Author  FXStreet
    Oct 28, Tue
    Solana (SOL) price edges higher by over 1% at press time on Tuesday, recovering on the announcement of Bitwise Solana Staking Exchange Traded Fund (ETF)  launching on Wednesday.
    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