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- 1 LINA Finance pice has observed a rise of over 90% in the last 7 days despite the consolidation in the market.
- 2 A Twitter account named Lookonchain has recently tweeted about the whale pushing the price.
Linear Finance is a decentralized asset protocol that instantly creates synthetic assets with unlimited liquidity. The exchange is specifically designed to enable the trading of various Liquids with rapid confirmation times. Linear Finance is built on the Ethereum network. Lina has an estimated APY of 33.93% with over 1.15b staked. The total number of holders of the LINA token has become stagnant. Recently LINA price has seen a strong gain in the past seven days.
A Twitter account recently tweeted that a whale is doing a pump-and-dump. The address which has been pushing the price is “0xd91A43744B7A355A4bb061bdba9F49B4C78920de”. The whale has been buying and selling Lina from the Binance exchange. The address has withdrawn over 1.2 Billion tokens from exchanges via multiple addresses. It has over 23% of the circulating supply and 12% of the total supply. The address has also sold a few of the tokens which have dumped the price.
Lina has a market cap of $117,104,182 and is ranked 192nd in the crypto-verse. As per volume, Lina is ranked 13th in the CMC. The V/M ratio of digital assets suggests a bullish trend in price.
Will LINA Continue to Rise?
The weekly technical chart of Linear Finance price hints toward a bullish trend in price. It has gained over 90% in the last seven days. On the daily chart, it has formed a strong bullish candle on the daily chart. Lina’s price is currently trading near the value of $0.02 with a gain of over 20% in the intraday session.
The upside trend of Lina can see a halt near the value of $0.03. Meanwhile, the support of the asset price can be seen near the value of $0.015. Lina’s price is currently trading above the 50 and 100 Daily Moving Averages. If a positive crossover happens then the asset price can see a new high in the future. The RSI of LINA is near 80 with a strong slope in the indicator. The overall sentiment of the indicator is bullish.
Summary
LINA price has seen a gain of more than 90% in the past seven days. LINA price is currently seeing strong momentum and can see a new high in the future.
Technical Levels
Major Support:$0.015
Major Resistance:$0.03
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
