TheCryptoNews.eu
News

Chainlink Pumps and Dumps on Robinhood Itemizing

Chainlink Pumps and Dumps on Robinhood Itemizing

Chainlink’s LINK token seen a spike in volatility after Robinhood confirmed its itemizing.

Key Takeaways

  • Online brokerage platform Robinhood listed Chainlink’s LINK.
  • The token surged by relating to 9% following the announcement. 
  • Though the hot gains had been lost, LINK appears to be like to be like poised to rebound.  

Chainlink’s LINK token temporarily pumped and dumped currently on data that Robinhood had listed it. Regardless, the decentralized oracles token appears to be like to salvage the strength to continue buying and selling above make stronger.

Robinhood Lists Chainlink’s LINK

Chainlink’s LINK token is broadening its horizons to a broader vary of traders following its itemizing on the secure brokerage platform Robinhood.

American retail buying and selling firm Robinhood officially confirmed that it added LINK to its cryptocurrency choices. That is the first time the platform had listed new tokens since mid-April when it added make stronger for Compound, Polygon, Solana, and Shiba Inu. The new itemizing may perchance doubtless well doubtless lend a hand provide more liquidity to the decentralized oracles token.

LINK jumped by relating to 9% following the announcement, going from a low of $6.70 to an intraday excessive of $7.20. Costs salvage retraced since then by relating to 10%, and the token hovers around $6.50 on the time of writing. From a technical level of view, it appears to be like has but to construct the strength for a foremost motion.

Chainlink appears to be like to be consolidating within a parallel channel on its hourly chart. At any time when the token reaches the channel’s greater boundary, it retraces to the decrease boundary. From this level, LINK tends to rebound again, which is in step with the characteristics of a channel.

The hot rejection at $7.20 appears to be like to salvage encouraged traders to exit some of their positions. Extra promoting stress may perchance doubtless well doubtless push LINK to the channel’s decrease trendline at $6.30 sooner than a rebound to the channel’s greater trendline at $7.50 occurs. Mute, it stays to be viewed whether or no longer Chainlink can mediate above make stronger.

Chainlink price chart
Source: TradingView

Failing to preserve the $6.30 level as make stronger may perchance doubtless well doubtless plot off a bearish breakout. The parallel channel’s width added to the breakout level means that a breach of make stronger may perchance doubtless well doubtless cease up in a 15.7% correction toward $5.30.

Disclosure: At the time of writing, the author of this fragment owned BTC and ETH.

For more key market traits, subscribe to our YouTube channel and web weekly updates from our lead bitcoin analyst Nathan Batchelor.

The info on or accessed thru this web location is received from self reliant sources we have faith to be accurate and respectable, but Decentral Media, Inc. makes no illustration or guarantee as to the timeliness, completeness, or accuracy of any data on or accessed thru this web location. Decentral Media, Inc. is no longer an funding consultant. We enact no longer give personalized funding advice or various financial advice. The info on this web location is topic to interchange with out concept. Some or all of the tips on this web location may perchance doubtless well doubtless turn out to be outdated, or it’d very neatly be or turn out to be incomplete or incorrect. We would, but are no longer obligated to, update any outdated, incomplete, or incorrect data.

It’s best to by no manner produce an funding decision on an ICO, IEO, or various funding per the tips on this web location, and also it is best to by no manner define or otherwise depend on any of the tips on this web location as funding advice. We strongly imply that you just consult a licensed funding consultant or various licensed financial unswerving when you happen to may perchance doubtless well be searching for out funding advice on an ICO, IEO, or various funding. We enact no longer web compensation in any construct for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

Discover tubby phrases and prerequisites.

Solana Integrates Chainlink Label Oracles on Mainnet


News


Chainlink presented currently that its decentralized worth oracles salvage turn out to be readily available on Solana, initially allowing builders to provide respectable, actual-time worth data for seven various buying and selling pairs, with many of more…

Solana Integrates Chainlink Price Oracles on Mainnet

Chainlink’s Motion Will Be Defined by Narrow Pocket

Chainlink is primed for a foremost worth motion after enduring an 11% correction within the final three days.  Chainlink Primed for Volatility 4-hour charts counsel that LINK’s worth action has…

Chainlink’s Movement Will Be Defined by Narrow Pocket

Chainlink Targets Double Digits After Staking Roadmap Update

Chainlink has released a prolonged-duration of time roadmap detailing how the community plans to implement LINK token staking. Chainlink Breaks Out on Staking News Chainlink appears to be like to be gaining bullish momentum after…

Chainlink Targets Double Digits After Staking Roadmap Update

Be taught Extra

Related posts

Easy Contract Permits Ethereum Blocks to be Reordered

The Crypto News

Ethereum Outpaces Bitcoin in Crypto Market Rebound

The Crypto News

Jesse Powell Stepping Down as Kraken’s CEO

The Crypto News

Leave a Comment

Or Login with

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More