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Chainlink LINK completed a double top formation on Tuesday, indicating a potential trend reversal. This has left investors pondering whether a new pump is on the horizon or if it’s wiser to wait for a dip in price.

The double-top pattern is often seen as a bearish signal, suggesting that sell pressure could intensify shortly. According to CoinMarketCap, the live LINK price today, July 19, is $6.84, with a 24-hour trading volume of $310 million. Chainlink is down by 3.61% in the last 24 hours.

Double Top Chart Pattern Formation Spotted – What’s Ahead For Chainlink

As shown on the above chart, a price rally on July 14 saw LINK hit $7.342. However, bears pushed the price much lower to the previous support level on June 17.

After the price traded into the previous support zone, denoted as the neckline, there was a quick bounce-off which took the price back into the resistant level of $7.301.

Generally, the double top formation is a highly bearish technical reversal pattern that forms after an asset reaches a high price twice, with a moderate decline between the two highs. It is confirmed once the asset’s price falls below a support level equal to the low between the two prior highs.

As illustrated on the chart, the price of the Chainlink has peaked twice, creating a double top formation which implies the value could significantly drop if the neckline of the double top pattern is broken. The market trading of the neckline price level of $6.570 is crucial for the bearish bias to hold.

However, we will see a few green days if the price fails to break out from the Neckline and bounces off instead. So, observing the price action before taking any investment action is advisable.

Amidst various factors like the constant high volatility of the crypto market, recent market sentiment hovering around regulations and a general push for crypto adoption can affect the price of Chainlink on a large scale.

Also, Chainlink has launched a cross-chain protocol on its mainnet, allowing network users and developers to interact with other blockchains and networks. This new development could be pivotal in driving the price of Chainlink in the coming weeks.

Chainlink (LINK) Alternative

Mr. Hankey is one of the most exhilarating ‘shitcoin,’ a small-cap gem hunter and meme coin degens. Although it’s approaching the crypto community with a sense of fun and crappy identity, Mr. Hanky aims for successful projects.

The new meme coin was inspired by South Park’s Tv Show Mr. Hankey, and it has embraced its reality by featuring a turd as its mascot and incorporating numerous poop-themed comedies.

According to the project’s site, “Mr. Hanky is what happens when we stop pretending to be the next Bitcoin and embrace our turd.” “we’ve ditched the glam, dumped the glitter, and plunged headfirst into the loo of reality.”

The $HANKY token is designed on the Ethereum blockchain with a total supply of 1 billion units of HANKEY. The token has gained attention for its viral potential in the meme coin space.

Mr. Hankey Features

DEX Liquidity Lock

Mr. Hankey’s team has pledged to dedicate 40% of its 1 billion token supply (400 million) to decentralized exchange (DEX) liquidity and lock it to avoid rug pull.

Notably, the absence of bountiful liquidity often causes meme coin degens to have issues of incompetent trading and huge losses because of cost slippage.

Team commitment

The project’s team’s commitment to delivering a token trading environment with streamlined market liquidity will attract potential buyers.

With this, Mr. Hankey Coin will soon debut on decentralized exchanges (DEXs) with more than adequate liquidity to fill all market orders.

Unique concept

This turd-themed token offers lighthearted, poop-themed comedy and aims to give “dirty money” a new meaning.

$HANKEY Presale

$HANKEY presale was limited and was sold out within a few (10) hours, setting new records in the cryptocurrency market. The coin’s hard cap stayed at $500,000, as the presale was launched on July 13, consisting of a 40% of 1 billion total supply.

Investors are purchasing Mr. Hankey’s token (HANKEY) in some exchanges. However, HANKEY shows a 15.7% price decline in the last 24 hours as of 1:23 pm EST.

Its 24-hour trading volume has plunged to $251K, market cap of $0.00 and market dominance of 0.00% today. The market value of the cryptocurrency may increase if it becomes listed on additional exchanges, attracting more traders and investors.

Alpha investing firms and significant influencers have taken notice of $HANKEY, which has been predicted to have at least “10x potential.”

How to Purchase Mr. Hankey

Decentralized exchanges now provide the Mr. Hankey token (HANKEY).

Uniswap V2 is the most widely used platform for buying and selling Mr. Hankey, and its most active trading pair, HANKEY/WETH, has a 24-hour trading volume of about $366,000.

You need to add Mr. Hankey (HANKEY) to MetaMask to keep track of your token holdings and transact on decentralized exchanges.
To add them, you must import HANKEY as a token.
You can add HANKEY to MetaMask by clicking on CoinGecko, provided the MetaMask Chrome plugin is installed.

These are the steps to trade Mr. Hankey (HANKEY) on Uniswap:

Log into the Uniswap website with your wallet connected.
After connecting, choose the HANKEY token from the list of tokens that are accessible.
If the HANKEY token isn’t already shown, you can add it by selecting “Import” and providing the token address.
Choose HANKEY and then input the quantity of coin you wish to exchange for HANKEY.
Examine the transaction information, and if everything seems proper, confirm the deal.