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Prominent market analyst Ali Martinez has outlined some bullish insights on the Chainlink market regarding short-term price action. This development comes amid a rather volatile moment as LINK prices have declined by almost 5% in the past day following a double price rejection at the $24.80 region. Related Reading: Chainlink Primed For Takeoff: Liquidity Sweep Strengthens Bullish Outlook LINK Bulls Face Key Test At $25 Before Potential Run To $30 In an X post on September 19, Martinez shares an in-depth technical analysis highlighting that Chainlink (LINK) is approaching a decisive moment, having previously tested the $25 resistance zone, a price point crucial to the next bullish leg of the altcoin. Notably, Martinezâs analysis also suggests that LINK is consolidating within a symmetrical triangle, with volatility compressing ahead of what could be a significant breakout. At press time, LINK trades around $23.60, just below the crucial $24.80â$25 zone, which aligns with the 0.618 Fibonacci retracement level. The renowned analyst notes that clearing this barrier could unlock the path toward $27.85, the 1.0 Fibonacci extension, before LINK sets its sights on the $30.12 target (1.272 Fibonacci level). Beyond that, the altcoin could also seize a potential move toward $31.39, if bullish momentum continues. Meanwhile, the symmetrical triangle pattern indicates a period of indecision between buyers and sellers, but as the price action coils tighter near the apex, the likelihood of a breakout increases. If current market demand intensifies under this condition, the $25 breakout could act as the ignition point for a larger rally. However, failure to breach resistance could send LINK back to lower support levels around $23.30 (0.382 Fib) before attempting another breakout. In a bearish case, LINK could break below the symmetrical triangle, with potential support zones set around or even $22.30 (0.236 Fib) or $20.85 (0). Related Reading: MetaMaskâs Long-Rumored Token May Arrive âSooner Than Expectedâ, CEO Says Chainlink Market Overview At the time of writing, Chainlink continues to trade at $23.61 after a price decline of 6.02% in the last seven days. This negative performance only underlines the struggles of LINK in the past month, during which it declined by 11.30%. Meanwhile, recent information shared by Coin Bureau indicates Chainlink ($LINK) may be on the verge of a supply shock as exchange balances have dropped to their lowest levels since 2022. This sharp decline signals that holders are moving coins off exchanges, reducing immediate sell pressure and tightening available supply. At the same time, Martinez also reports that whale activity has surged, with nearly 2 million LINK accumulated in the last 48 hours, underscoring strong confidence from large investors. The combination of reduced exchange liquidity and aggressive whale accumulation is often a precursor to a sharp, significant rally, as demand outpaces available supply. Featured image from Flickr, chart from Tradingview
Shiba Inu Joins The Ranks Of Dogecoin, XRP On Coinbase ETF Watchlist â The Next Big Thing?
Shiba Inu is now entering the same space as some of the largest cryptocurrencies when it comes to discussing exchange-traded funds (ETFs). The SHIB coin is starting to gain notice as it appears on Coinbaseâs radar. Coinbase already offers a futures product for Shiba Inu, and this step positions the meme coin for consideration as a future ETF. SHIBâs marketing lead claims the coin already has the necessary setup for this, while a market analyst predicts significant price growth. Both agree that momentum for SHIB is picking up now. Related Reading: From $2 Trillion To $400T? CEO Sees Bitcoin Exploding 200x â Hereâs More Shiba Inu Enters Coinbaseâs ETF Watchlist According to SHIBâs marketing lead, Susie S, the coin has now joined Coinbaseâs âETF Watchlist Club.â This group already includes Dogecoin (DOGE), Solana (SOL), Hedera (HBAR), and XRP. Being named in this group indicates that the Shiba Inu token is gaining more serious attention. Susie S explained that Shiba Inu is in line for spot ETF consideration because Coinbase already has a regulated futures contract called the â1K SHIB Index.â It is essential because it puts SHIB on the same pathway that Bitcoin (BTC) and Ethereum (ETH) followed before they gained approval for spot ETFs. For the first time, the meme coin now stands in the same conversation as two of the worldâs largest cryptocurrencies. She added that while it may be harder for Shiba Inu to launch its own solo ETF immediately, the ETF could be part of a larger product. That product could be something like a âTop 10 Crypto ETFâ that bundles together several coins. Market Analyst Sees Massive Potential For SHIB Price Market analyst Heber Mayen also sees a big future for Shiba Inu. Posting a SHIB price chart on X, he stated, âItâs gonna be massive!â His comment reflects the rising attention around Shiba Inu as it becomes more active in trading markets. Mayen explained that SHIBâs popularity on Coinbaseâs perpetual markets is a significant indicator. As more traders buy and sell SHIB in these products, the trading volume goes up. This rise in volume can help SHIB meet one of the needs for an ETF to be approved. In other words, the more people trade Shiba Inu now, the stronger the case becomes for a future ETF. Related Reading: FalconX Moves 413K Solana Worth $98M â Impact On SOL Price Currently, Shiba Inu is attracting more leveraged traders, and this ETF activity may be fueling ongoing speculation. Analysts like Mayen argue that momentum is on SHIBâs side as investors seek the next big crypto ETF candidate. The price action and volume activity together create the type of market story that can push Shiba Inu further into the spotlight. Backed by comments from its marketing lead and bullish words from the analyst, the SHIB meme coin could become the next big thing. Featured image from Unsplash, chart from TradingView
Shiba Inu Joins The Ranks Of Dogecoin, XRP On Coinbase ETF Watchlist â The Next Big Thing?
Shiba Inu is now entering the same space as some of the largest cryptocurrencies when it comes to discussing exchange-traded funds (ETFs). The SHIB coin is starting to gain notice as it appears on Coinbaseâs radar. Coinbase already offers a futures product for Shiba Inu, and this step positions the meme coin for consideration as a future ETF. SHIBâs marketing lead claims the coin already has the necessary setup for this, while a market analyst predicts significant price growth. Both agree that momentum for SHIB is picking up now. Related Reading: From $2 Trillion To $400T? CEO Sees Bitcoin Exploding 200x â Hereâs More Shiba Inu Enters Coinbaseâs ETF Watchlist According to SHIBâs marketing lead, Susie S, the coin has now joined Coinbaseâs âETF Watchlist Club.â This group already includes Dogecoin (DOGE), Solana (SOL), Hedera (HBAR), and XRP. Being named in this group indicates that the Shiba Inu token is gaining more serious attention. Susie S explained that Shiba Inu is in line for spot ETF consideration because Coinbase already has a regulated futures contract called the â1K SHIB Index.â It is essential because it puts SHIB on the same pathway that Bitcoin (BTC) and Ethereum (ETH) followed before they gained approval for spot ETFs. For the first time, the meme coin now stands in the same conversation as two of the worldâs largest cryptocurrencies. She added that while it may be harder for Shiba Inu to launch its own solo ETF immediately, the ETF could be part of a larger product. That product could be something like a âTop 10 Crypto ETFâ that bundles together several coins. Market Analyst Sees Massive Potential For SHIB Price Market analyst Heber Mayen also sees a big future for Shiba Inu. Posting a SHIB price chart on X, he stated, âItâs gonna be massive!â His comment reflects the rising attention around Shiba Inu as it becomes more active in trading markets. Mayen explained that SHIBâs popularity on Coinbaseâs perpetual markets is a significant indicator. As more traders buy and sell SHIB in these products, the trading volume goes up. This rise in volume can help SHIB meet one of the needs for an ETF to be approved. In other words, the more people trade Shiba Inu now, the stronger the case becomes for a future ETF. Related Reading: FalconX Moves 413K Solana Worth $98M â Impact On SOL Price Currently, Shiba Inu is attracting more leveraged traders, and this ETF activity may be fueling ongoing speculation. Analysts like Mayen argue that momentum is on SHIBâs side as investors seek the next big crypto ETF candidate. The price action and volume activity together create the type of market story that can push Shiba Inu further into the spotlight. Backed by comments from its marketing lead and bullish words from the analyst, the SHIB meme coin could become the next big thing. Featured image from Unsplash, chart from TradingView