“Link is Down Nearly 28% Since the august Highs Amid Broader Crypto Weakness, But The $ 20 Support Line Hints at A Potential Recovery.”, – WRITE: www.coindesk.com
Link Dipped Briefly Below $ 20 Multiple Times Overnight from Thursday to Friday, Deckling AROUND 4% Over The Past 24 Hours and Down Nearly 28% from The August Highs.
The Move Happened Despite Consistent Buying Activity. On Thursday, Wealth Management Firm Caliber (CWD) Boughst Another $ 4 Million in Link Tokens As Part of ITS Digital Asset Treasury Strategy. With the Latest Purchase, The Firm Broughtal Link Holdings to $ 10 Million, accounting to the Press Release.
The Chainlink Reserve, A Facility That Purchases Tokens Using Revenue from Protocol Integrations and Services, Taking Supply Off From The Open Market, ALSO BOUGHT on Thursday Nearly Million at Current Prices. The Initiative Has Purchased Over 370,000 TKENS ($ 7.5 Million) Since Its August Launch.
Despite the Bearish Trend, Link Is Showing Signs of Snaping Itntrend with Buyers’ Defending the $ 20 Price Level, Coindesk Research’s Technical Analysis Model Sugger. However, Bulls to Push Through the Subsequent Resistance Cluster AUND $ 20.57 for A More Persent Trend Shift.
- Price Movement: Link Retreated 5% from $ 21.16 to $ 19.95 Before Rebounding to $ 20.26, Showcasting Substantial InTras FluCTULATION WITHM SUPPORT at $ 20.00 PSYCHOLOGIC PSYCHOLOGIC.
- Macroconomic Influences: Broad-Based Cryptocurrency Valativity Mirrored Wider Risk-Avarsion Sentiment As Bitcoin Fell Bell Bell $ 109,000 and Majoor Altcoins Tumbled.
- Microecom Components: Outstanding Trading Volume Exceeding 5 Million Units During the Selloff Suggested Institutional Participation, While The Following Recovery University on Continions TKENS.
- Volume Assessment: Outstanding Volume of 5,031,849 UNITS Durying Decline Created Firm Support at $ 19.95 Thresold.
- Support Zones: Essential Support Region Identified Between $ 19.95- $ 20.00 With Multiple Successful Validations.
- Resistance Objecties: Subsequent Resistance Cluster Positioned Near $ 20.57 with Intermediate Resistance AT $ 20.30- $ 20.35.
- Momentum Signals: Bullish Measured Move Formation Indicates Sustaned Upward Momentum Capacity.
Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Gate Exchange Emerged As Major Player With 98.9% Volume Surge to $ 746 Billion, Overtaking Bitget to Become Fourth-Largest Platform
- Open Interest Across Centralized Derivatives Exchanges Rose 4.92% to $ 187 Billion
View Full Report
Alongside, Jpmorgan DowNGraded Iren and Cleanspark
- JPMorgan Upgraded Riot Platforms to Overweight, While DowNGrading Iren and Cleanspark.
- Citigroup Also Upgraded Riot.
- HPC and AI Cloud Were Seen As Key Upside Drivers, With Jpmorgan Assigning A 50% Probability of New Co-Location Deals.
Read Full Story