Santiment Reports LINK’s Abnormal Correlation With Price and Supply
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- “Unlike many other assets, its price often sees an initial lift when $LINK moves to exchanges.” : Santiment.
- LINK reached its highest price of $7.30 on September 25.
- Chainlink may reach the $8.5 resistance level despite it touching the upper Bollinger band.
Santiment, a market analytics tool tweeted that Chainlink (LINK) “Unlike many other assets, its price often sees an initial lift when $LINK moves to exchanges.” The price of Chainlink (LINK) has gone up by more than 23% in 2 weeks due to the exchange supply being transferred to cold wallets. On September 14, the LINK supply peaked at 17.2% making it the 2023 high while within 10 days, that 17.2% spike dropped to 16.4%.
— Santiment (@santimentfeed) September 25, 2023
#Chainlink continues to be one of the best #crypto performers in September. Unlike many other assets, its price often sees an initial lift when $LINK moves to exchanges. Its price is +23% in 2 weeks as exchange supply now flows back to cold wallets. https://t.co/mocTwCW3vR pic.twitter.com/juDXb70iTX
Currently, the supply is at around 15% while the price of Chainlink rose by 9% during the last seven days. The trading volume of LINK dropp…
The post Santiment Reports LINK’s Abnormal Correlation With Price and Supply appeared first on Coin Edition.
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