Markets 🌪️
What to know: (Or maybe what to groan about? 😩)
- LINK took a nosedive from $15.26 to below $14.50, shattering its support like a giant peach hitting the ground. All this while volume surged 118% – someone’s been gobbling up those tokens like Augustus Gloop in a chocolate river! 🍫💦
- The Chainlink Reserve, ever the optimist, scooped up 74,049 tokens on Thursday. They’re now sitting on 800K+ LINK, nursing a 27% unrealized loss. Someone call the Oompa Loompas for a financial rescue! 🎪💰
- A three-wave liquidation cascade confirmed the bearish mood, as $15 turned from a friend to a foe. CoinDesk Research’s technical analysis model says it’s as gloomy as a Twit’s living room. ☁️📉
Chainlink’s LINK token went on a wild slide Thursday, dropping nearly 5% in 24 hours. It broke below $14.50 faster than the BFG’s snores could send you to sleep. Technical sellers were having a field day, while buyers were left scratching their heads like Mr. Wormwood after a bad report card. 🧮🤦♂️
LINK tumbled from $15.26 to $14.73 during the day, then kept falling like a golden ticket losing its sparkle. It hit its lowest point since late October, according to CoinDesk data. The token underperformed the CoinDesk 5 Index, which only dropped 3.7%. Talk about a bad hair day! 💇♂️💨
Trading volume skyrocketed to 3.32 million tokens, 118% above the daily average. That’s like a sudden rush of kids to the chocolate factory – chaotic and unstoppable! CoinDesk Research’s model says the $15.00-$15.26 resistance range was rejected harder than a bad batch of fudge. A three-wave liquidation cascade between 17:05 and 17:41 UTC saw 360,000 tokens trade in minutes, pushing LINK toward $14.40. Bearish momentum? More like a bear on a sugar rush! 🐻🍭
Despite the plunge, onchain data shows the Chainlink Reserve is still hoarding tokens like Veruca Salt hoards goodies. They bought another 74,049 LINK on Thursday, bringing their stash to over 800,000 tokens. Their average cost? Around $20. Oops, looks like they’re 27% underwater – someone throw them a lifebuoy! 🛟💦
With LINK below $14.50, traders are in a tight spot. Losing the $14.40-$14.50 zone could send it tumbling to $14.20, while reclaiming $15.00 is the only way to stop this freefall. It’s like trying to catch a snozzcumber – slippery and not at all appetizing! 🥒💨
Key technical levels to watch (or maybe just laugh at? 😂)
- Support/Resistance: $14.40-$14.50 is the last line of defense; resistance at $15.00 and $15.26 is as stubborn as the Grand High Witch. 🧙♀️🚫
- Volume Analysis: Breakdown volume surged 118% above average – looks like the institutions were having a fire sale! 🔥🛒
- Chart Patterns: The trendline break confirms a bearish reversal, as clear as the BFG’s giant ears. 👂📉
- Targets & Risk/Reward: Holding $14.40 keeps the downside to $14.20; recovery needs a leap above $15.26. Good luck, traders – you’ll need it more than a golden ticket! 🍀🚀
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2025-11-13 22:06