NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Chainlink’s Bears Aim for $9 As Prices Sit in Overbought Territory

Ali Martinez
Ali Martinez
1 year ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Decentralized oracles firm Chainlink made headlines after the impressive bull rally it has gone through. Its native token, LINK, was able to reach a new all-time high of $14.7 on August 8 as the buying pressure behind it skyrocketed.

The recent price action was able to capture the attention of many market participants, as some believed that the rally was coming to an end. Given the high levels of notoriety that this cryptocurrency has gained over the past few weeks, different fundamental and technical indexes reveal that a correction is imminent.

LINK’s Social Engagement Metrics Explode

Chainlink’s meteoric price action has not gone unnoticed. The number of LINK-related mentions on different social media networks increased as investors appear to have entered a state of FOMO.

The rising chatter around the decentralized oracles token allowed it to move to the top of Santiment’s Emerging Trends list. This is a historically negative sign.

The Chatter Around Chainlink Chainlink Explodes Following New All-Time Highs. (Source: Santiment)

Dino Ibisbegovic, head of content and SEO at Santiment, maintains that when the crowd pays increased attention to a given cryptocurrency because of an ongoing pump, it is usually followed by a steep correction.

“Within the next 12 days after a coin claims a top 3 position on our list of Emerging Trends, its price drops by an average of 8.2 percent. Based on our study, once the increased crowd attention subsides (which usually happens in a matter of hours/days), a short-term price correction – or consolidation – is often a likely outcome,” said Ibisbegovic.

Backtest Results from Emerging Trends by Santiment

Backtest Results from Emerging Trends. (Source: Santiment)

Indeed, LINK seems to have reached an exhaustion point after investors became overwhelmingly bullish about its price action. Since the peak, this cryptocurrency has pulled back over 15.36%, and it is currently trading around $12.5. Now, a widely know technical index among traders estimates that LINK is poised to retrace further.

Bearish Impulse on the Horizon

The Tom Demark (TD) Sequential index supports the idea that LINK is bound for a steep correction. This technical indicator presented a sell signal in the form of a green nine candlestick on Chainlink’s weekly chart. The bearish formation estimates a one to four weekly candlesticks correction before the uptrend resumes.

Based on historical data, the TD setup has been incredibly accurate at predicting this altcoin’s local tops. When looking at the 1-week chart, it even presented a sell signal in early March, just before prices crashed by 66.75%. Thus, the current pessimistic forecast must be taken seriously despite the hype around its ongoing rally.

TD Index Presents Sell Signal on LINK's 1-Week Chart. (Source: TradingView)

It is worth mentioning that, thus far, each time the TD setup has presented a sell signal on LINK’s weekly chart, the bearish outlook is confirmed by a spike in sell orders. Given the recent price action, it is very likely that the decentralized oracles token sits in overbought territory and that it will indeed correct.

Nonetheless, Chainlink is in price discovery mode, so breaking above the recent high of $14.7 may invalidate all the sell signals. Under this premise, LINK would likely aim for higher highs, and its uptrend will resume.

Featured Image by Depositphotos
Price tags: linkusd, linkbtc
Chart from TradingView.com
Tweet123Share196ShareSend
Ali Martinez
Ali Martinez

Ali Martinez

Ali began forex trading in 2012. In 2014, he came across Bitcoin’s whitepaper and was so fascinated by the idea of a decentralized, borderless, and censorship-resistant currency that he started buying Bitcoin. By 2015, he started traveling to spread the word about Bitcoin. Now, he is a content producer for some of the leading media outlets in the cryptocurrency industry.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin

Dogecoin Megaphone Pattern Confirms Price Blowup, ‘Don’t Miss This Last Rally’—Analyst

Crypto analyst TradingShot has drawn attention to a bullish pattern for Dogecoin, indicating that a significant price surge is on...

Scott Matherson 3 hours ago
Crypto Founder Pushes Ethereum As World Reserve Asset: A Yield-Backed Store Of Value

Crypto Founder Pushes Ethereum As ‘World Reserve Asset’ – Details

Ethereum has finally broken above the critical $2,850 level, igniting momentum across the broader altcoin market. After weeks of sideways...

Sebastian Villafuerte 7 hours ago

Why The Solana Price Could Crash To $95 Before Reaching $200

The Solana price has fallen by a considerable amount after hitting an all-time high of almost $300 back in January...

Scott Matherson 10 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Pi Network Turns Heads With Symbolic Transfers, $20M Volume Spike

Christian Encila 5 minutes ago

Web2 Habits, Web3 Rewards: How FUNToken Makes Crypto Feel Natural

News BTC 22 minutes ago
Bitcoin

Bitcoin SOPR Signals More Gains Ahead Despite New ATH – Analyst

Semilore Faleti 1 hour ago

Premium Sponsors

Press Releases

  • ミームコイン注目銘柄|暗号資産価格急騰で買うべきおすすめコイン

    ...

    8 minutes ago
  • [Lightning Launch] CoinBase Miner Earns $9141 a Day...

    4 hours ago
  • 4 kryptomeny, vďaka ktorým toto leto zmeníš 1000 € na...

    20 hours ago
  • 3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    20 hours ago
  • 4 kryptowaluty, dzięki którym tego lata zamienisz 1000 zł w miliony

    4 kryptowaluty, dzięki którym tego lata zamienisz 1000...

    20 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.