Link price makes strength clear, but a price correction could be imminent because the long/short ratio indicates a movement towards short positions

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Die Kryptowährung Chainlink (LINK) zeigt derzeit keine Schwäche und handelt laut CoinMarketCap bei 8,18 $. In den letzten sieben Tagen ist der Wert von LINK um fast 18 % gestiegen, und in den letzten 24 Stunden konnte ein Anstieg von 16 % verzeichnet werden. Dieses Wachstum wird durch den Anstieg des Handelsvolumens und der Waltransaktionen von Chainlink in den letzten Tagen weiter untermauert. Insbesondere ist der Saldo der Adressen mit 0 bis 1 Million LINK erheblich gestiegen, was darauf hinweist, dass die Anleger für die Rallye von LINK verantwortlich sind. Aufgrund der aktuellen Stärke von Chainlink gibt es Anzeichen für …
The Chainlink (Link) cryptocurrency currently shows no weakness and, according to CoinmarketCap, acts at $ 8.18. The value of Link has increased by almost 18 % in the last seven days, and an increase of 16 % has been recorded in the last 24 hours. This growth is further underpinned by the increase in the commercial volume and the whale transactions of Chainlink in the past few days. In particular, the balance of the addresses has increased significantly with 0 to 1 million link, which indicates that investors are responsible for Link's rally. Due to the current strength of Chainlink, there are signs of ... (Symbolbild/KNAT)

The cryptocurrency Chainlink (link) currently shows no weakness and, according to Coinmarketcap, acts at $ 8.18. The value of Link has increased by almost 18 % in the last seven days, and an increase of 16 % has been recorded in the last 24 hours. This growth is further underpinned by the increase in the commercial volume and the whale transactions of Chainlink in the past few days. In particular, the balance of the addresses has increased significantly with 0 to 1 million link, which indicates that investors are responsible for Link's rally.

Due to the current strength of Chainlink, there are signs of possible correction. The relative strength index (RSI) moves in the overbought area, which could indicate a potential reversal of trend. The Moving Average Convergence Divergence (MACD) also shows the strength of the continued upward trend from Link. The Awesome Oscillator (AO) also confirms the strength of Chainlink.

Although the technical indicators are Bullish, there are some key figures that indicate a possible weakening of the mood. Link's weighted mood reached its high on July 17, but fell again on July 18. Link's social dominance also shows ups and depths, which indicates indecisiveness among investors. In addition, the trading volume of Link has dropped on July 20 since its maximum level of 3.37 billion.

The ratio between long and short positions for link is currently 50.76 % to 49.24 %. This indicates that there could be a movement in favor of the short owners, which could require price correction.

It remains to be seen how Chainlink will develop. The steadily increasing number of whale transactions and the increased trading volume could support growth. However, the current mood and the high ratio of short positions could be possible challenges for chainlink.

sources:
- Coinmarketcap
- Ambcrypto
- Santiment
- Coinglass

Image sources:
- Tradingview
- Santiment