This post examines LINK/USDT price and volume movement from Jan-01 to Feb-26.
The first week of 2021 saw LINK's low-volume climb from 11 USD up to 17 USD.
Two relatively high volume sell-offs occurred around 17 USD.
By January 14, LINK started a high-volume climb from 17 USD to a high around 23 USD, before correcting back to 17 USD again.
The final week in January began with moderate-volume climb from 17 USD, topping out at 25 USD. Two very high-volume sell-offs occurred around 23 USD.
February was characterized by low-volume climbing through a fairly narrow channel, barely 2 USD wide.
By February 18, LINK/USDT was trading at 35 USD.
Initially, the 35 USD price was rejected with moderately high-volume selling. The subsequent sell-off dropped the price back to 25 USD - although this was much lower volume.
By February 26, we see fairly high volume around 25 USD, suggesting a lot of LINK is changing hands at this price.
How to read this plot
This plot depicts the movement of LINK quoted in USDT, for the year 2021 to date. Data for LINK/USDT were collected from FTX.
The width of the line is proportional to the volume traded during that period. Similarly, lighter colors correspond to higher volume.
The peaks and troughs have been identified. Peaks were connected to form channels containing most of the price action.
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