Chainlink decreases by 17 % per week – LINK recovery is possible only if … star-news.press/wp

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Chainlink was approaching an important request area at $ 15.5. The activity of achieving profits did not stop, but the standards showed that this threat of sale should reduce. Will this be enough to stop the decline from $ 19.5?

Chainlink (Link) prices have decreased by 17.2 % since July 28. This decline came alongside the Bitcoin price (BTC) by 4.9 % from 119.8 thousand dollars to 113.6 thousand dollars.

However, the signals indicate the chain and technology that the worst decline process may end-but the bounce is not guaranteed yet.

The stage of distribution has been on the past ten days

Data from Santiment showed that the wave of profit for the correlation may be at the end.

source: Vocal

Sleeping blood circulation witnessed a significant increase on the first of August. He pointed to the increase in the distinctive symbol movement on the chain, and generally as a result of the increase in the sales activity.

It came along with a decrease in the price of 5.08 % for today.

Meanwhile, the average age of the currency (90 days)-which was heading to the top-steadily decreased in the past two weeks. This decrease is in line with the wider network distribution.

The MVRV ratio, the MVRV ratio, also decreased at the price of Chainlink, indicating that their holders were sitting on less profits than before.

The distinctive symbol movements previously highlighted indicating a fixed profit in recent weeks. The threat caused by the profit achievement activity may be at the end of it as MVRV approaches zero.

Can bulls regain control of $ 15.5?

Source: Link/USDT on Tradingview

The strongest argument for the reflection of the serial trend was the price of the price last month.

It is recognized that the market structure was firmly declining, and the relative power index fell to less than 50 neutrals, at the time of the press. OBV has been retracted, and evidence showed on hand that the bears are dominant.

If Chainlink has a bullish reaction, it is possible that it will come from the demand area of $ 15.5. It was an important area in the second week of July, when the prices were unified shortly before the race.

It also has a convergence of the moving average for 50 days. The fixed range profile from the beginning of July showed that the low value (dotted blue) area was $ 15.7.

Bitcoin monitoring traders can also give evidence to reflect the attachment direction.