My lovely and crypto-connected people! What does the good vibe say? Today we come to gossip about something that has more than one person with their eyes wide open: Chainlink (LINK). This token, which is supposed to be rising like foam, seems to be stuck like a car in the mud! 🚜💨
Look, here's the deal: LINK is in limbo, floating around $13.26, with a gain of nothing, just a miserable 0.76% on the day! It's like it had a strong coffee to stay awake, but still felt lazy. 😴 And the most concerning part is that since June started, it has been spinning like a top in a very narrow range: between $12.50 and $15.00. A serious situation! 🤯
Remember back in December 2024 when it shot up like a rocket and hit $22? Those were the days! 🚀 But since then, it has been all about "lower highs" and "will it go up, will it not." The big money players, the bulls, have not shown up strongly. Not yet, at least. So, let's cross our fingers, my people. 🙏
A ping-pong that never ends! 🏓
To be fair, the support, that is, the floor where the price bounces and doesn't fall, is around $12.50. That level has acted like a champ, holding up against the onslaught time and again in the second quarter of the year. Every time the price has wanted to drop down there, bam!, people have rushed to buy like there's no tomorrow. 💸 But on the other hand, $15.00 is like an invisible wall. Every time it touches there, bam!, it gets rejected. It's like they're saying: "You shall not pass, my king!" 🚫
Ali Martínez, a genius who is always dropping gold nuggets on X (formerly Twitter), told us that the real limit, the wall to break, is $15.30. If LINK manages to break that level, hold on tight, because the story could change! 🎢 But for now, it's pure ping-pong in this narrow channel. Imagine the frustration of those waiting for the boom! 😤
The market says: "Meh, how boring!" 😴
And things get denser when we look at the numbers. The derivatives market for LINK, where people bet on the future price, is in "nap" mode. The "open interest," which is like the amount of money people have bet, exceeded $1.1 billion at the beginning of the year. Incredible! 🤑 But do you know how much it is now? Just about $590 million! A drastic drop, as if they took the ball away from the game. 📉
Basically, traders are playing it safe. No one wants to risk big money with leveraged bets. And if you look at history, the big price movements of LINK always came after trading volume spiked. Think about April 2021, October 2021, or early 2024. Pure fire! 🔥 But lately, the volume is quieter than pond water. So, unless we see an explosion of activity, don't expect big surprises! 🤷♂️
Will $18 be the next stop? 🛣️
Here is where things get spicy. If LINK throws in the towel and manages to break those famous $15.30 (and that’s a big "if"), it could push itself up to $18. And if things get better, maybe it could even return to $20 or $22! Then everyone will be dancing! 💃🕺 But, beware, until that level is broken with supporting volume, this is just pure entanglement.
Now, pay attention, because if the price drops and we lose the support at $12.50, then we really need to be careful! 🚨 A drop to $10 is not out of the question. That's a number people have in mind, and besides, it has been a solid floor in the past.
Chainlink, despite all this price "drama," continues to move forward with solid foundations. It is increasingly integrating into the world of "oracles" (which is like the brain that connects crypto with the real world) and continues with development work that is pleasing. But the price, my people, needs a good reason to move! A convincing break above $15.30 could be that reason. Otherwise? Just keep waiting patiently, like someone waiting for payday. 😩$LINK
