Markets
What to know:
- LINK, that beleaguered numismat, tumbled 8% below $17 on Thursday-a nadir not seen since a time when “bear market” was merely a childhood nightmare. Volume surged like a caffeinated squirrel during this support breakdown.
- The Chainlink Reserve, fiscal glutton that it is, gobbled up tokens in its largest feast since August. One wonders if the champagne flowed freely at the table.
- Ondo Finance, in a move as logical as a lemming’s leap, enlisted Chainlink to feed data to tokenized equities. A match made in blockchain purgatory, perhaps?
The native token of Chainlink’s oracle network, that poor soul, plummeted through critical support levels on Thursday as institutions sold with the subtlety of a bull in a china shop. A tragic waltz indeed. 🕺
LINK, once perched at $18.39, now slumbers at $16.92-a 24-hour plunge deeper than a philosopher’s existential crisis. CoinDesk’s tools revealed a trendline breach, while volume spiked to 3.94 million units. A party no one wanted to attend. 🎉
Hourly data paints a portrait of despair: LINK trapped below $17 in a consolidation range tighter than a corset at a masquerade. Attempts to reclaim $17 failed as volume slumped 58%. One suspects the institutions are vacationing in the Bahamas, sipping piña coladas. 🌴
Ondo Finance, that audacious puppeteer, anointed Chainlink as its price feed oracle for 100+ tokenized stocks and ETFs. The partnership also involves CCIP and alliances through the Ondo Global Market Alliance-a circus of acronyms. 🎪
The Chainlink Reserve, that fiscal glutton, added 64,445 LINK to its hoard on Thursday-a nominal splurge since August. Now it guards $11 million worth of tokens like a dragon in a crypto cave. 💰
What traders should watch:
- Support/Resistance: $17.00 (a psychological moat?) and $18.20 (the ghost of a failed rally).
- Volume Analysis: 3.94 million units confirmed institutional selling. A symphony of sorrow. 🎶
- Chart Patterns: Trendline breakage unleashed chaos. Support zones crumbled like a house of cards in a hurricane. 🌪️
- Targets & Risk: $16.50 next, then $16.00 if consolidation fails. A descent into madness, perhaps? 🌀
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2025-10-30 22:46