{"id":131939,"date":"2024-12-01T00:20:46","date_gmt":"2024-11-30T17:20:46","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=131939"},"modified":"2024-12-01T00:20:46","modified_gmt":"2024-11-30T17:20:46","slug":"can-links-buyers-absorb-incoming-sell-side-pressure-after-52-november-gains","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=131939","title":{"rendered":"Can LINK&#8217;s buyers absorb incoming sell-side pressure after 52% November gains?"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em><span style=\"font-weight: 400;\">Chainlink\u2019s exchange supply ratio gradually rose to a one-month high as wallet profitability climbed\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Open interest surged to its highest level since April too<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">November delivered significant gains for most altcoins, including <\/span><a href=\"https:\/\/ambcrypto.com\/category\/chainlink-news\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Chainlink (LINK)<\/span><\/a><span style=\"font-weight: 400;\">, with the crypto trading at $18.63 at press time. In fact, after gaining by around 5% in the last 24 hours alone, LINK\u2019s monthly gains have now surpassed 52% on the charts.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These gains seem to have stirred profit-taking activities, with the same highlighted by the rising exchange supply ratio. Data from CryptoQuant revealed a gradual uptick in this metric to a monthly high of 0.161.\u00a0<\/span><\/p>\n<div id=\"attachment_447813\" style=\"width: 2570px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2.png\" data-wpel-link=\"internal\"><img fetchpriority=\"high\" decoding=\"async\" aria-describedby=\"caption-attachment-447813\" class=\"wp-image-447813 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2.png\" alt=\"\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2-300x169.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2-1024x576.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2-768x432.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2-1536x864.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2-2048x1152.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-Exchange-Supply-Ratio-All-Exchanges-2-1200x675.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\"\/><\/a><\/p>\n<p id=\"caption-attachment-447813\" class=\"wp-caption-text\">(Source: CryptoQuant)<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">When this ratio rises, it points to an increase in LINK tokens being sent to exchanges \u2013 A sign of rising sell-side pressure. This can be a bearish sign, especially if there is no uptick in buying activity to absorb the sold coins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here, it\u2019s worth pointing out that the hike in the exchange supply ratio coincided with rising wallet profitability. According to IntoTheBlock, 64% of LINK holders are now in profit \u2013 A significant jump from 36% towards the beginning of November. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the same time, wallets in losses dropped from 59% to 29%. <\/span><\/p>\n<div id=\"attachment_447814\" style=\"width: 1588px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447814\" class=\"wp-image-447814 size-full\" alt=\"\" width=\"1578\" height=\"453\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT.png 1578w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-300x86.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-1024x294.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-768x220.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-1536x441.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-1200x344.png 1200w\" data-lazy-sizes=\"(max-width: 1578px) 100vw, 1578px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447814\" class=\"wp-image-447814 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT.png\" alt=\"\" width=\"1578\" height=\"453\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT.png 1578w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-300x86.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-1024x294.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-768x220.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-1536x441.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/Chainlink-IoT-1200x344.png 1200w\" sizes=\"auto, (max-width: 1578px) 100vw, 1578px\"\/><\/a><\/p>\n<p id=\"caption-attachment-447814\" class=\"wp-caption-text\">(Source: IntoTheBlock)<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Rising wallet profitability can also be good for the price as it can lead to positive market sentiment. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, for LINK to continue its uptrend, it needs a surge in buying activity.\u00a0<\/span><\/p>\n<h2>Chainlink price analysis \u2013 Are buyers active?<\/h2>\n<p><span style=\"font-weight: 400;\">Chainlink\u2019s four-hour chart revealed that buying pressure has been greater than the selling pressure. This was evidenced by the Chaikin Money Flow (CMF) indicator which had a positive value of 0.02. The CMF was also tipping north, suggesting that more buyers have entered the market recently.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Moving Average Convergence Divergence (MACD) line also created a buy signal after crossing above the Signal line. If the MACD line continues to trend above the Signal line, it could strengthen the altcoin\u2019s bullish trend.\u00a0<\/span><\/p>\n<div id=\"attachment_447815\" style=\"width: 1791px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447815\" class=\"wp-image-447815 size-full\" alt=\"\" width=\"1781\" height=\"798\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41.png 1781w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-300x134.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-1024x459.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-768x344.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-1536x688.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-1200x538.png 1200w\" data-lazy-sizes=\"(max-width: 1781px) 100vw, 1781px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447815\" class=\"wp-image-447815 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41.png\" alt=\"\" width=\"1781\" height=\"798\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41.png 1781w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-300x134.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-1024x459.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-768x344.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-1536x688.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINKUSDT_2024-11-30_10-47-41-1200x538.png 1200w\" sizes=\"auto, (max-width: 1781px) 100vw, 1781px\"\/><\/a><\/p>\n<p id=\"caption-attachment-447815\" class=\"wp-caption-text\">(Source: Tradingview)<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">If buyers manage to push LINK past the resistance level at $19, the token could aim for $20.75. However, Chainlink has been rejected at this support level several times, with more buying volumes needed to support a breakout.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, the number of active addresses suggested that buying volumes were low. According to <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/LINK\/deep-dive?group=network&amp;chart=addressStats\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span style=\"font-weight: 400;\">IntoTheBlock<\/span><\/a><span style=\"font-weight: 400;\">, these addresses dropped by nearly 50% in one week from 7,420 to 4,210. New addresses also declined from 2,650 to 1,530.\u00a0<\/span><\/p>\n<h2>Open interest approaches 8-month high<\/h2>\n<p><span style=\"font-weight: 400;\">On the derivatives market front too, Chainlink has seen a surge in activity. In. fact, Open Interest (OI) climbed to its highest level in more than seven months.\u00a0<\/span><\/p>\n<div id=\"attachment_447816\" style=\"width: 1643px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447816\" class=\"size-full wp-image-447816\" alt=\"\" width=\"1633\" height=\"495\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest.png 1633w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-300x91.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-1024x310.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-768x233.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-1536x466.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-1200x364.png 1200w\" data-lazy-sizes=\"(max-width: 1633px) 100vw, 1633px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-447816\" class=\"size-full wp-image-447816\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest.png\" alt=\"\" width=\"1633\" height=\"495\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest.png 1633w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-300x91.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-1024x310.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-768x233.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-1536x466.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/11\/LINK-open-interest-1200x364.png 1200w\" sizes=\"auto, (max-width: 1633px) 100vw, 1633px\"\/><\/a><\/p>\n<p id=\"caption-attachment-447816\" class=\"wp-caption-text\">(Source: Coinglass)<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">LINK\u2019s OI, at press time, stood at $396M \u2013 An indication that derivative traders are opening new positions on the altcoin. <\/span><\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/ambcrypto.com\/predictions\/chainlink-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Chainlink\u2019s<\/a> funding rates also surged, highlighting that most of the newly opened positions were by long traders betting on more gains.\u00a0<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/pepes-next-rally-depends-on-this-factor-panning-out\/\" rel=\"prev\" data-wpel-link=\"internal\">PEPE\u2019s next rally depends on THIS factor panning out!<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/can-links-buyers-absorb-incoming-sell-side-pressure-after-52-november-gains\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink\u2019s exchange supply ratio gradually rose to a one-month high as wallet profitability climbed\u00a0 Open interest surged to its highest level since April too November delivered significant gains for most &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=131939\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-131939","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=131939"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/131939\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=131939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=131939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=131939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}