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    Home»Blockchain Technology»Chainlink Exchange Reserves Plummet: Potential Supply Shock…
    Blockchain Technology

    Chainlink Exchange Reserves Plummet: Potential Supply Shock…

    Sam Boolman | Crypto Enthusiast and WriterBy Sam Boolman | Crypto Enthusiast and WriterJuly 18, 2025
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    Chainlink’s Exchange Reserves Plummet to Record Lows

    Chainlink ($LINK) has recently witnessed a significant decline in its exchange reserves, hitting an all-time low. This development has sparked discussions among market analysts regarding the potential for a supply shock, hinting at a possible price surge in the near future. Market experts and technical indicators are painting a bullish picture, projecting a long-term price target of $30.

    Understanding Supply Shock and Market Dynamics

    When the supply of an asset decreases while demand remains steady or increases, it can lead to a supply shock, driving prices upwards. With Chainlink’s exchange reserves hitting a new low, there is speculation within the market about a potential surge in the coming weeks if the supply-demand imbalance persists.

    Elliott Wave Theory and Price Targets for $LINK

    Market analyst Morecryptoonl suggests that Chainlink’s $LINK token is currently in a strong bullish phase, poised to reach its next price target at $17.76. The application of Elliott Wave theory indicates that the current price action represents Wave (3), a robust phase in the wave cycle, potentially propelling LINK to the $17.76 mark.

    Chainlink’s Path to $30: Analyzing Market Trends

    Crypto Rand highlights the breakout potential for Chainlink, noting the formation of a descending triangle pattern on the chart. This pattern, coupled with a decrease in selling pressure from holders who purchased at higher levels like $19.45 and $25.53, suggests a bullish market sentiment that could sustain further price increases. Based on these analyses, LINK is expected to rally by 5.53% to reach $18.06 by August 2025.

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    Sam Boolman | Crypto Enthusiast and Writer
    Sam Boolman | Crypto Enthusiast and Writer
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    Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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