Chainlink (LINK) Will Be Joining ETHDenver from February 28 to March 1, and Traders See This as a Major Event That Could Influence Its Price in the Near Future.

At the same time, Ethereum enthusiasts remain optimistic amid recent market dynamics. Meanwhile, Cutoshi (SCUTO) is attracting investor attention with

Chainlink (LINK) will be present at ETHDenver from February 28 to March 1, an event that traders are closely following for its potential impact on LINK's price.

Meanwhile, Ethereum enthusiasts remain optimistic about the upcoming period amid recent market dynamics. On the other hand, Cutoshi (SCUTO) is attracting investors during its ongoing presale, leading to speculations that it could be the next memefi coin to experience 100x growth.

Cutoshi's recent popularity may bring Ethereum based tokens back into the spotlight for traders.

Chainlink (LINK) Price Analysis

At the time of writing, LINK's price is hovering around the $18 mark, and sharp price fluctuations suggest that bearish pressure is attempting to flip this level into resistance.

However, a key indicator of accumulation is the declining supply of LINK on exchanges, which is a bullish sign.

According to a recent tweet by crypto analysis profile, CryptoSift:

“While the price is declining, the available supply of $LINK on exchanges is dropping at an alarming rate. This isn’t a typical bear market signal where whales are selling—in fact, it’s quite the opposite: whales are accumulating aggressively whenever the price dips.”

Despite this, the risk of a correction remains. If LINK's price closes below $17, it could trigger a deeper pullback, possibly testing the February 3 low of $15.40. A break below that level could see LINK drop as far as $13.

However, if bulls manage to push the price above the 20-day EMA ($19.61), LINK could surge to $22, indicating a market rejection of its recent breakdown below $19.25 on February 18.

Ethereum (ETH) Price Analysis: Is the Seasonal Pump About to Begin?

On the Ethereum side, analysts are cautious about calling a definitive uptrend, but historical data suggests that ETH tends to rally in the latter half of Q1.

One trader, Honey, pointed out that Ethereum has seen a market pump during this period every year since 2020, including a 50% surge during the 2022 bear market.

Source: Honey/TradingView

“People keep asking me about the H2 2024 top, but what about H1 2024 or Q2 2024?

Well, let’s see what happened in H2 2020, 2021, 2022, and 2023. Maybe we can find something interesting.

🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎🔎