A closely followed analyst says that the total market cap of the five largest stablecoins has reached heights never seen before.

Crypto trader Ali Martinez tells his 131,400 followers on the social media platform X that the top five dollar-pegged crypto assets by market cap have a total valuation of $204.7 billion.

The five largest stablecoins in the market include Tether’s USDT, Circle’s USDC, USDS, Ethena’s USDe and DAI, according to data from CoinGecko.

A soaring stablecoin market cap suggests more buying power on the sidelines. It may also suggest that investors are unloading their crypto assets in favor of dollar-pegged coins.

Looking at Ethena (ENA), a decentralized protocol designed to provide a crypto-based alternative to the traditional banking system, Martinez says the altcoin is flashing a bullish signal based on the Tom DeMark Sequential indicator.

Traders use the TD Sequential Indicator to predict potential trend reversals for tokens based on the closing prices of their 13 previous bars or candles.

“Ethena ENA is flashing bullish signals! A buy signal from the TD Sequential indicator on the weekly chart, combined with a hammer candlestick at key support, suggests a strong rebound could be ahead.”

A hammer candlestick pattern is typically viewed as a bullish reversal signal with the candle wick indicating demand.

At time of writing, ENA is trading for $0.44.

The trader adds that the decentralized oracle network Chainlink (LINK) and the modular blockchain Celestia (TIA) are also showing signs of a potential rebound based on the TD Sequential indicator.

At time of writing, LINK is worth $14.30 and TIA is trading for $3.11.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Natalia Siiatovskaia/Tithi Luadthong

Chainlink (LINK) has faced massive volatility and uncertainty, with price action resembling a rollercoaster ride over the past few days. After trading around $17, LINK plunged to $13 before rebounding back to $16, all within less than three days. This extreme price movement reflects the broader market’s instability, as traders struggle to navigate between bullish excitement and looming risks.

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The crypto market remains highly reactive, with investors balancing the hype from President Trump’s U.S. Strategic Crypto Reserve announcement against the macroeconomic uncertainty that continues to weigh on sentiment. While the potential for increased crypto adoption fuels optimism, concerns about inflation, interest rates, and regulatory pressure keep many traders on edge.

On-chain data from Santiment shows that 2.23 million LINK have been moved to exchanges in the past two weeks, a sign that selling pressure may be increasing. This shift in supply raises questions about whether large holders are preparing to offload LINK or simply repositioning ahead of a major move.

As volatility remains high, traders are watching to see whether Chainlink can hold key support levels or break out toward new highs in the coming weeks. The next moves in both LINK and the broader market will be crucial for determining its short-term direction.

Chainlink Struggles Below Key Levels

Chainlink is currently trading below crucial resistance levels, with bulls struggling to reclaim lost ground. A breakout above these key levels could trigger a rally, but until then, uncertainty remains high. The broader market sentiment is mixed, with analysts and investors worried about the possibility of a continued drop if LINK loses support and falls below range lows.

Metrics suggest a potential distribution phase is on the horizon, raising concerns that large holders may be preparing to offload LINK. Top analyst Ali Martinez shared on-chain data on X, revealing that 2.23 million LINK have been moved to exchanges in the past two weeks. Historically, this type of activity precedes selling pressure, as big players typically transfer assets to exchanges with the intent to sell. If selling accelerates, LINK could see a deeper correction, further delaying any bullish momentum.

However, there’s still a chance that this trend may not lead to a full-scale distribution phase. Some analysts believe that whales could be repositioning or preparing for a major move rather than outright selling. If LINK can hold above key support levels and reclaim resistance, it could defy expectations and start a new upward trend.

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For now, Chainlink remains at a pivotal moment, with price action depending heavily on whether bulls can absorb selling pressure and regain control. The coming days will determine whether LINK breaks out of its range or risks further downside in response to on-chain movements.

LINK Trading Below Key Resistance

Chainlink is currently trading below the $16.6 mark, hovering around the 200-day Moving Average (MA). This level is critical for bulls to reclaim in order to signal long-term strength and shift momentum in their favor. A decisive push above this zone would indicate that LINK is regaining traction, potentially setting the stage for further upside.

However, in the short term, the main focus remains on holding above the $15 level. This support has been a key demand zone, and maintaining it in the coming days will be crucial to prevent further downside pressure. If LINK stays above $15, buyers could build momentum and attempt a breakout toward the next major resistance at $17.9, which aligns with the 200-day Exponential Moving Average (EMA).

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A successful push above $17.9 would reinforce bullish sentiment and increase the chances of LINK reclaiming higher price levels. However, failure to hold $15 could expose LINK to renewed selling pressure, delaying any potential recovery. For now, traders are watching whether LINK can hold support and regain critical moving averages, which will determine its next significant move in the market.

Featured image from Dall-E, chart from TradingView

A widely followed crypto analyst says that decentralized oracle network Chainlink (LINK) is gearing up for a massive breakout.

In a new strategy session, pseudonymous crypto trader Inmortal tells his 229,400 followers on the social media platform X that LINK may increase by more than 194% its current value by early next year.

“Green for buying, red for selling. This trade requires:

• 2/100 IQ.
• 100/100 patience .

I have both.”

Looking at his chart, the trader suggests LINK may retest the level around $14 and surge to around $53 in the first half of 2026.

LINK is trading for $17.98 at time of writing, flat on the day.

Next up, the trader predicts that top digital assets will see big rallies in the coming months.

“I think most underestimate the power of buying spot here on some majors. Easy 2x in three months. Buy, wait, wait, wait, sell.”

Lastly, the trader says that Ethereum (ETH) may take off on a series of rallies and surpass the $4,800 level by May.

“This is how my dream looks like.

1. Slow grind up, no big dips or retraces.
2. God candle when we flip $3,000.

Call me crazy, I don’t care…

It has already started.”

ETH is trading for $2,712 at time of writing, up 1.4% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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