CandleFocus Chainlink (LINK) Price Breaks $11 Post-Fed Rate Cut: What’s Next
2024-09-19
Author: Content Editor
Chainlink's price has surged above $11 following a recent Fed rate cut, leading to speculation about its short-term outlook. Factors contributing to the hike include a rise in Chainlink's 90-day Mean Coin Age (MCA), suggesting that investors are holding onto their tokens and reducing selling pressure. The Cumulative Volume Delta (CVD) on the 4-hour LINK/USD chart indicates sustained buying pressure, supporting the continuation of its uptrend. Chainlink is currently trading at $11.30 with no significant resistance in sight. Fibonacci retracement levels suggest that the next likely price targets are $11.86 and $12.98, but a pullback to $9.25 might occur if it fails to surpass $11.86.
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