On-chain metrics and technical indicators hint at another round of correction for Chainlink (LINK). However, the projected decline could be the final hurdle to a recovery that could help LINK recoup its recent losses. Meanwhile, WienerAI, the new AI token and trading bot, is here to revolutionize your crypto game. Not only that, this isn’t just another digital asset, it’s a furry friend with a brain for the blockchain.
Is Chainlink Undervalued?
The recent correction has caused investors to stay away from LINK, as seen in the network’s growth rate, which has fallen to a one-year low.
However, the situation may change in the near future. However, judging by the market to realized value ratio (MVRV), which is at -16%, the asset is severely undervalued. Historically, Chainlink price has started to recover when MVRV is in the range of -7% to -17%. This means that the altcoin is in the opportunity zone.
Chainlink (LINK) Price Forecast
LINK is trading above the support level of $12.2 at the time of writing, which coincides with the 23.6% Fibonacci retracement. At the time of writing, the current price is $13.27, However, as the volatile crypto market experiences turbulence, altcoins are facing significant downward pressure.
If the altcoin fails to hold its current level of $12.7, it risks falling to $11.7 before bouncing higher. However, successful confirmation of the $13.2 level as support could lead to the start of a recovery. Meanwhile, this will refute the bearish thesis and allow Chainlink to rise to $14.8 and above.
WienerAI: the Power of AI for Every Trader
The WienerAI ditches the intimidation factor often associated with crypto trading. Its user-friendly interface and instant, predictive AI make it perfect for beginners and seasoned traders alike. Moreover, just ask WienerAI a question about your crypto goals, and watch this AI pup scour the markets with lightning speed!
WienerAI isn’t here to just point its wet nose at random coins. Its advanced predictive technology analyzes the market with laser focus, delivering unbiased insights and well-reasoned suggestions. However, once WienerAI sniffs out a potential goldmine, it helps you find the best price across multiple Decentralized Exchanges (DEXs) – all with just a few clicks.
The Pack of WienerAI & its $WAI Token
WienerAI embraces the decentralized spirit of crypto, charging zero fees. This means more gains in your pocket and the freedom to trade with complete autonomy. So, ditch the stress and embrace the future of crypto trading with WienerAI, your loyal AI companion on the path to financial freedom!
Wiener AI represents a meshing of canine and machine and a coming together of the world’s fastest-growing and most advanced technologies–AI and blockchain. The Ethereum Network represents the ideal place for Wiener AI’s legacy to be born and grow. The $WAI Token is an ERC20 token on the Ethereum Blockchain and is the WienerAI trading bot’s native token.
