【If LINK drops to $13 again, what will on-chain data tell us?】
I’ve seen this scene countless times—the price gets stuck at a certain level, going neither up nor down, trading volume dries up to almost nothing, and the market just sits there waiting.
That’s exactly where LINK is now.
$ 14.01, down 8% in 7 days and just one step away from support at $13.44. Think I’m going to talk technical analysis? Wrong. What I care about is: what does this actually mean in practice?
Low trading volume means nobody is willing to make a move at this level. Buyers are sitting tight, and sellers can’t be bothered to dump. Why? Because the whole market is waiting for a signal—either news on the macro front, or some major player making a move.
But here’s a very practical question: what’s supporting LINK’s valuation?
It sells on-chain data services, right? Put simply, it’s the enterprise SaaS model. Customers pay to use its oracle network. This business model would make perfect sense in any traditional industry—it’s very straightforward.
The problem is, the broader economy is struggling, and businesses are cutting IT budgets. What do you think they’ll cut first? They won’t touch core business systems, but those “nice-to-have” Web3 data services? Sorry, those can wait.
That’s what I mean when I ask whether the business model holds up. LINK’s fundamentals haven’t changed, but the customers it serves—DeFi protocols, exchanges, and on-chain applications—are also tightening their belts right now.
Will support at $13.44 break? I think it’s quite possible in the short term. Why? Because if trading volume doesn’t pick up, the price can only move lower to find an answer.
Who does this affect most? Not short-term traders, but those of you holding LINK as a long-term investment. You need to think again about what exactly you’re betting on.
What do you think about this move in LINK? Keep waiting, or step aside for now and see what happens?
I’ve seen this scene countless times—the price gets stuck at a certain level, going neither up nor down, trading volume dries up to almost nothing, and the market just sits there waiting.
That’s exactly where LINK is now.
$ 14.01, down 8% in 7 days and just one step away from support at $13.44. Think I’m going to talk technical analysis? Wrong. What I care about is: what does this actually mean in practice?
Low trading volume means nobody is willing to make a move at this level. Buyers are sitting tight, and sellers can’t be bothered to dump. Why? Because the whole market is waiting for a signal—either news on the macro front, or some major player making a move.
But here’s a very practical question: what’s supporting LINK’s valuation?
It sells on-chain data services, right? Put simply, it’s the enterprise SaaS model. Customers pay to use its oracle network. This business model would make perfect sense in any traditional industry—it’s very straightforward.
The problem is, the broader economy is struggling, and businesses are cutting IT budgets. What do you think they’ll cut first? They won’t touch core business systems, but those “nice-to-have” Web3 data services? Sorry, those can wait.
That’s what I mean when I ask whether the business model holds up. LINK’s fundamentals haven’t changed, but the customers it serves—DeFi protocols, exchanges, and on-chain applications—are also tightening their belts right now.
Will support at $13.44 break? I think it’s quite possible in the short term. Why? Because if trading volume doesn’t pick up, the price can only move lower to find an answer.
Who does this affect most? Not short-term traders, but those of you holding LINK as a long-term investment. You need to think again about what exactly you’re betting on.
What do you think about this move in LINK? Keep waiting, or step aside for now and see what happens?