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1A. Top 3 Good News for LINK HODLERS !!!
- Top Ethereum Whales Load up on Polygon ($MATIC) and Chainlink ($LINK) as Crypto Market Recovers
Statistic as of 2022-01-26 07:02 AM EDT: 11 positive votes, 0 negative vote
(Extracted from Crypto Panic
- Chainlink (LINK) Has Nothing but Bullish Times Ahead, According to InvestAnswers – Here’s Why
Statistic as of 2022-01-26 07:02 AM EDT: 8 positive votes, 1 negative vote
(Extracted from Crypto Panic
- Chainlink Flips MATIC as Most-Traded Token, but ETH Whales Are Grabbing Both
Statistic as of 2022-01-26 07:02 AM EDT: 5 positive votes, 0 negative vote
(Extracted from Crypto Panic
2. How ChainLink Performs Relative to Other Cryptos ?
Performance of All Cryptos Under Quantdoge Watchlist since 2021 (Sorted by % Return)
LINK has undergone 39.09% return from USD 11.2532 to USD 15.6523 since 01 Jan 2021. LINK is the 29th best performing crypto assets among others here.
3. How Resilience ChainLink Is Towards Bitcoin Crash Relative to Other Cryptos ?
Historically, all altcoins are somewhat dependent on Bitcoin price movement and it’s often the case where if Bitcoin falls, most altcoins would follow.Top 3 Cryptos That Are Most Resilient To Bitcoin Crash During Each of BTC 4 Largest Crashes in 2021
LINK has proven resilience against BTC crash in 0 out of the 4 instances.
During the last 4 BTC market crashes,
When BTC dropped by -13.47 %, LINK returned -35.65 % at 20 May 2021,
When BTC dropped by -13.13 %, LINK returned -15.66 % at 22 January 2021,
When BTC dropped by -12.16 %, LINK returned -13.68 % at 13 May 2021,
When BTC dropped by -11.39 %, LINK returned -19.5 % at 22 June 2021
4. Technical Analysis on ChainLink
VWAP is a technical indicator used by a trader to gauge the overall trend of an asset price movement. VWAP line (orange line) represents the volume-weighted average price (average price here is defined as the average of high, low and close prices) while close price line (blue line) represents the price when LINK is closed at the end of every single day.
Whenever blue line (close price) is above orange line (VWAP), it indicates that the asset is gaining momentum and being traded higher than its average price level. This would represent a 'buy' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'sell' opportunity, anticipating that the price of LINK (blue line) to fall to its average level (orange line).
Whenever blue line (close price) is below orange line (VWAP), it indicates that the asset is losing momentum and being traded lower than its average price level. This would represent a 'sell' opportunity for short-term momentum trader whom task is to trade following the trend while a longer term mean-revision trader might take it as a 'buy' opportunity, anticipating that the price of LINK (blue line) to rise to its average level (orange line).
As of 25 Jan 2022, VWAP is suggesting that LINK has been losing massive momentum and is now trading below its month-long and week-long volume-weighted averages.
MACD (12, 26) is computed by subtracting the 26-day exponential moving average (EMA) of LINK closing price from its 12-day EMA.
As MACD (12, 26) goes higher away from Signal (9), it signifies that LINK is gaining momentum and whenever it goes trends at a lower level than Signal (9),it signifies that LINK is losing momentum.
As of 25 Jan 2022, MACD is suggesting that LINK has lost a significant amount of momentum.
- SMA (20) (blue line), which is the 20-day simple moving average price of LINK
- Upper Band (orange line), which is computed by adding 2 standard deviations of LINK on SMA (20)
- Lower Band (red line) , which is computed by subtracting 2 standard deviations of LINK from SMA (20)
- Close (green line), which is the daily closing price of LINK
Whenever close line (green) touches the lower band (red), it indicates that LINK is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever close line (green) touches the upper band (orange), it indicates that LINK is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 25 Jan 2022, Bollinger Band is suggesting that LINK has been oversold to an undervalued territory.
Just like Bollinger Band, Relative Strength Index is often being used by mean-reversion trader as a gauge to assess how undervalued or overvalued an asset is. There are 2 psychological levels, i.e. 30 and 70 in RSI. Whenever the RSI reaches 30, it indicates that LINK is corrected too much and is being traded at an undervalued level, representing a 'buy' opportunity. On the other hand, whenever RSI reaches 70, it indicates that LINK is gaining too much momentum and is being traded at an overvalued level, thus indicating a 'sell' opportunity.
As of 25 Jan 2022, RSI is suggesting that LINK has been oversold this week.
4.5. Price and Volume Analysis
There was a huge influx of active daily trading volume during LINK's earlier bull run from end of Dec 2021 to 7 Jan 2022. It has then undergone a big fall but the average daily trading volume during its bearish fall is nowhere as high as its daily active trading volume during its earlier bullish days. This may suggest that most traders who bought LINK last year or earlier this month during LINK's bullish days are still holding on despite the market crash.
Based on the technical analysis presented above, quantdoge thinks that LINK is undervalued but not sure whether it is a right time to mass purchase this token now as the whole market is waiting for Fed's FOMC decision and the future is uncertain at this point of time. However, I could be wrong, hence please make your careful due diligence before making any financial decision.
5. ChainLink Risk Profile
Based on the 100-day 95% historical Value-at-Risk (VaR) profile of ChainLink defined above, LINK seems to trade at a greater risk level on 25 Jan 2022 as compared to 10 days before on 15 Jan 2022, with its biggest pullback being seen at - 14.75% on a single day during the last 100 days. However, I could be wrong, hence please make your careful due diligence before making any financial decision.
The probability distribution chart of LINK's daily return has been shifted left (i.e. having greater probability of losing more than 20%), indicating that the downside risk of LINK remains and becoming more influential at this volatile period.
6. LINK Community Analytics
Number of LINK Followers In The Past 24 Months
During the past 24 months, ChainLink followers have grown 1,709.24 % from 40,487 to 732,508 on Twitter and grown 513.98 % from 12,335 to 75,734 on Reddit.
Number of LINK Followers In The Last 30 Days
In the last 30 days alone, ChainLink followers have grown 7.11 % from 683,861 to 732,508 on Twitter and grown 2.38 % from 73,972 to 75,734 on Reddit.Daily increment of ChainLink Twitter followers peaked on 05 Jan 2022 and its daily increment of Reddit followers peaked on 05 Jan 2022.
There are 1,735 new followers following ChainLink's twitter account and 61 new subscribers joining ChainLink's Reddit official forum every day on average.
7. Google Trends Analytics
chainlink reached its peak in Google Search on 2021-05-02 with a Google Score of 84
Over the last quarter, chainlink Google Score has increased 10.0 % from 22.5 to 24.75
Over the last 6 months, chainlink Google Score has decreased 6.95 % from 26.6 to 24.75
8. Developer Activity Analytics
Fork refers to the amount of time where the Github repo of current cryptocurrency is being copied. Higher fork number could mean that this cryptocurrency project is getting more interest in the developers community who likes to explore more on the deep technical of this project.
ChainLink forks increased 99.52% from 415 to 828 in the past year.
Star refers to the number of developers who bookmark the Github repo of current cryptocurrency. Higher star number could mean that this cryptocurrency project is getting more general interest in the developers community.
ChainLink stars increased 90.41% from 1,502 to 2,860 in the past year.
Pull Request
Pull request contributor refers to developer who has made a successful improvements/ modifications on the Github repo of this current cryptocurrency project. Higher number of pull request contributors could mean that there is a high number of commitment given by developers to this cryptocurrency project.
However, a low number also could mean that the developer community of this project applies a strict standard when it comes to code review, so only developers who have published a high quality code with highly impactful features got approved.
ChainLink pull request contributors increased 57.89% from 57 to 90 in the past year.
9. BINANCE Futures Analytics
There are more traders taking long position on LINKUSDT futures as compared to the shorters, but the ratio of long accounts against short accounts is coming down.
LINKUSDT long-short ratios remain consistently higher than BTCUSDT and ETHUSDT futures despite the market dip. As crypto market recovers slightly today, we see a large influx of long position on LINKUSDT futures. Please take note that this long-short ratio is simply just dividing the number of accounts who are long by the number of accounts who are short, without taking any buy/ sell volume into consideration.
Binance USD-M futures statistics are showing that there are more buy volumes than the sell volumes across BTCUSDT, ETHUSDT and LINKUSDT futures with most of the buy volumes piling into BTCUSDT futures ahead of Federal Reserve's FOMC decision.
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