LINK was up almost 60% from its lowest point in July and roughly 27% in the last days on 10 August. However, at the time of writing, it was fast approaching an important resistance level that might disrupt LINK’s latest upside. LINK traded at $9.17 at press time after extending its upside by 4.94% in […]
LINK was up almost 60% from its lowest point in July and roughly 27% in the last days on 10 August. However, at the time of writing, it was fast approaching an important resistance level that might disrupt LINK’s latest upside.This was an important range because it previously demonstrated resistance near the $9.40 price level. The crypto will likely encounter resistance near the $9.40 price zone.
However, the increase tapered out between 8 and 9 August. In fact, the difference between the sending and receiving addresses highlighted something interesting.Receiving addresses dropped from 2,001 to 1,711 between 8 and 9 August. On the other hand, sending addresses continued increasing from 1,364 to 1,690.
Furthermore, LINK’s supply distribution by balance of addresses suggested that there is still not enough selling pressure at its press time price.
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