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Chainlink’s 86% Correction May Be Over: Here’s Why $100 Could Be Next for LINK

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

  • LINK has corrected over 86% from its 2021 high near $53, now compressing inside a key demand block at $5.60–$7.50.
  • CryptoPatel identifies smart money absorption at macro support, with sell-side liquidity sweeps fully absorbed on the 3W chart.
  • Three upside price targets are mapped at $26.30, $52.22, and $100, representing up to 1,675% return from the demand zone.
  • The bullish setup is invalidated if LINK prints a three-weekly candle close below the critical support level of $4.76.

Chainlink’s native token, LINK, is currently priced around $8.30 after an extended period of price compression. Analyst CryptoPatel has released a high-timeframe technical forecast pointing toward a potential 10x move.

The setup is built on multi-year chart structure and accumulated demand at macro support. With volatility contracting sharply on the three-weekly chart, market participants are watching closely for a breakout confirmation.

LINK Accumulates Inside a Multi-Year Demand Block

LINK has been trading inside a descending channel on the three-weekly chart since its 2021 cycle high near $53. The token corrected more than 86% from that peak over the following years.

Price has since compressed into a demand block between $5.60 and $7.50. This zone is where CryptoPatel identifies strong smart money absorption taking place.

Multiple higher lows have formed within this demand block on the higher timeframe. Each successive low reflects buyers stepping in before price reaches prior lows.

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CryptoPatel noted that sell-side liquidity sweeps into this support region have been fully absorbed. That behavior points toward sustained accumulation rather than distribution at current levels.

The analyst’s tweet reads: “Fractal Structure Mirroring Previous Cycle Compression Before Breakout.” This observation draws a direct parallel to prior accumulation phases in LINK’s price history.

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Each of those phases was followed by a sharp directional expansion. The current setup carries a structurally similar pattern on the same timeframe.

Volatility on the three-weekly chart has contracted to an extreme degree, according to CryptoPatel. That level of compression typically precedes a larger expansion move in either direction.

Price is currently hovering near $8, described as range equilibrium within the analyst’s framework. The descending channel resistance from the 2021 all-time high remains the defining technical ceiling.

Key Price Levels That Could Trigger a Massive Upside Move

CryptoPatel has mapped out three upside targets: $26.30, $52.22, and $100. A move to the third target from current prices would represent a gain of approximately 1,110%.

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The projected total return from the high-timeframe demand zone sits between 1,232% and 1,675%. These targets align with liquidity pools resting above current price on the higher timeframe chart.

The critical confirmation signal for this setup is a three-weekly candle close above the descending trendline resistance. A simultaneous break of the range high on that timeframe would further strengthen the bullish case.

Until that close materializes, the channel resistance remains structurally intact. Traders following this setup are waiting for that specific trigger before adding exposure.

CryptoPatel’s bullish bias holds as long as LINK stays above $4.76 on the three-weekly timeframe. That level marks the lower boundary of the high-timeframe demand zone.

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A confirmed candle close below $4.76 would signal structural failure and open the door to further downside. That threshold functions as the hard invalidation point for the entire setup.

The analyst describes this as a high-timeframe, patience-based trade with asymmetric risk-to-reward. It is best suited for spot accumulation and long-term swing positioning, per the forecast.

No macroeconomic or fundamental variables are incorporated into the analysis. Traders are encouraged to conduct independent research before making any financial decisions.

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Crypto World

XRP Crypto Falls to $1.31 After Failed Breakout as Liquidity Dries Up

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XRP Crypto slipped to $1.31 after a hard rejection at $1.35 left traders with little to show from a breakout attempt that briefly looked credible.

The 2% drop is secondary – what matters is the combination of that ceiling rejection and visibly thinning order book depth, a setup that historically precedes sharper directional moves.

The failed push came off a March 31 high of $1.37, with XRP unable to clear $1.40 resistance and grinding lower through a $1.28–$1.33 range ever since.

That recent run toward $1.35 now looks like a distribution zone rather than a launchpad, and the market cap sits at $80.6 billion with 24-hour volume at just $2.01 billion – reduced participation that confirms the liquidity problem is real. The chart now forces a binary question: does $1.28 hold, or does the next support at $1.15 come into play faster than bulls expect?

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XRP Crypto, Reclaim $1.35 or Retreat to $1.15?

XRP Crypto is trading below both its 50-day EMA ($1.38) and 200-day EMA ($1.88), with price pinned inside a descending channel on the 4-hour chart where both the 50-SMA and 200-SMA act as overhead ceiling.

Daily RSI reads 38 – weak momentum, but not yet in oversold territory, which means there’s no technical floor from that indicator alone. MACD is negative and expanding downward, removing any near-term momentum argument.

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Key resistances sit at $1.3500; load-bearing supports are $1.3000 and $1.2698. The $1.28 level has held since February, aligning with the 23.6% Fibonacci retracement – below it, holder support thins materially until $1.15.

Source: TradingView

The bull case requires a clean reclaim of $1.35 on volume – not a wick, a close – followed by a hold above the 50-day EMA at $1.38.

That sequence opens $1.45 and, with a catalyst, $1.60 tied to regulatory progress on the CLARITY Act, which carries a 63% probability of passing in 2026 per current prediction markets. Long-term analysts maintain structurally bullish frameworks, but those scenarios require macro conditions – FOMC dovishness, easing geopolitical tensions – that aren’t present right now.

The bear case activates on a confirmed daily close below $1.28. Analysts are flagging $1.15 as the next meaningful support, with more aggressive targets at $0.80 contingent on oil above $100 and Fed rate holds through Q2.

The uncomfortable reality is that XRP is down nearly 30% year-to-date and 64% from its $3.65 all-time high, and every bounce has been sold. The single most important level: $1.28. Hold it and the range stays intact; lose it and $1.15 becomes the next anchor.

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The post XRP Crypto Falls to $1.31 After Failed Breakout as Liquidity Dries Up appeared first on Cryptonews.

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South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

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South Korea Tightens Crypto Rules with 5-minute Asset Verification Mandate

South Korea has ordered all crypto exchanges to reconcile their internal ledgers with actual asset holdings every five minutes after an inspection uncovered weaknesses in internal controls.

The directive was announced on Monday by the Financial Services Commission (FSC) after a meeting with top crypto exchanges and the Digital Asset Exchange Alliance (DAXA), during which they discussed the findings of an emergency inspection triggered by the Bithumb payout incident.

The inspection found that three of the country’s five major exchanges were reconciling balances only once every 24 hours, limiting their ability to respond quickly to discrepancies. Systems designed to halt trading during major mismatches were also found to be insufficient, raising concerns about how exchanges would handle large-scale errors.

In February, Bithumb mistakenly distributed 620,000 Bitcoin (BTC) to 249 users during a promotional event. The exchange later announced that it recovered 99.7% of the funds the same day. The remaining 0.3%, 1,788 BTC that had already been sold, was covered using company reserves.

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Related: Bithumb seeks to reappoint CEO despite recent controversies: Report

South Korea mandates five-minute asset checks

Under the new measures, exchanges must implement automated ledger-to-wallet reconciliation systems operating on a five-minute cycle. They will also be required to introduce defined criteria for triggering automatic transaction halts in the event of significant discrepancies.

Beyond reconciliation, regulators are pushing for sweeping changes to internal operations. High-risk processes like promotional payouts will require stronger oversight, including third-party cross-checks and multi-level approval systems. Exchanges will also need to separate high-risk accounts and implement automated verification tools for payments.

Top Korean crypto exchanges. Source: CoinGecko

Furthermore, external audits will shift from quarterly to monthly, while disclosures will expand to include detailed asset balances by wallet and ledger.

“The financial authorities and the DAXA plan to complete the rule changes needed to implement the improvement measures within April this year,” the FSC wrote.

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Related: South Korean brokerage Korea Investment & Securities eyes Coinone stake: Report

Bithumb delays IPO to post-2028

Last week, Bithumb announced it is now targeting an IPO after 2028, marking another delay from its earlier 2025 plans as it works through restructuring and regulatory pressure. The exchange said it will focus on strengthening accounting policies and internal controls through 2027, following an advisory agreement with Samjong KPMG.

Meanwhile, Naver Financial has also delayed its planned share swap with Dunamu by about three months, now targeting a shareholder vote on Aug. 18 and completion by Sept. 30.

Magazine: South Korea gets rich from crypto… North Korea gets weapons

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