Chainlink (LINK) on Verge of Rebound, But It’s Far From a New Price High

(Source: IntoTheBlock)While investors seem to “fear” a further price slump, multiple indexes suggest that Chainlink is poised to rebound. Chainlink Prepares to Resume the Uptrend Based on LINK’s 4-hour chart, the Tom Demark (TD) Sequential indicator will likely present a buy signal in the form of a red nine candlestick.

But the 34 addresses holding 1 million LINK around this price level may prevent it from higher highs. A look at Chainlink’s on-chain and social volume, as well as the number of daily active addresses, reveal that these metrics have been trending up for over the past month.

Timeline of Chainlink