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Chainlink Integrates New Tech, And It’s Going Green – Healthy For LINK?

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Chainlink Integrates New Tech, And It’s Going Green – Healthy For LINK?

Chainlink (LINK) made a couple of announcements in line with the integration of ZIL/USD Price Feed that safeguards Web3 projects from crashes and data hacks as well as its thrust towards going green.

  • Chainlink starts bullish but swerves towards the bearish zone
  • Chainlink working on tech initiatives to combat climate change
  • LINK total volume grows from 200 million to 516 million in September

Chainlink in collaboration with Coorest, DlcimateDAO, and Hyphen is working on initiatives directed toward climate change.

LINK Shows Amplified Social Media Metrics

All of these new developments have greatly amplified the social media metrics of Chainlink. As evidence of that, LINK’s social media engagements have spiked by 6.65%, and social mentions also skyrocketed by 16.23% as seen in the past week.

LINK has been noticeably bullish with its total volume growing from 200 million to as much as 516 million as observed early in September. In addition, the altcoin’s MVRV has also been surging which gives a rather positive momentum for LINK.

Development activity has also shown a minimal uptrend with further updates contributing to LINK’s price increase in the coming days.

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While it looks like things are going pretty well for Chainlink this month, it wasn’t an easy route for the altcoin.

Evidently, there has been a huge drop in the number of unique active wallet addresses as seen in the past three months.

Dominance in terms of market capitalization has also plunged as it capsized by 4.64% as seen in July.

LINK Displaying Weakened Momentum

On a 24-hour timeframe, LINK’s price is seen to have increased by 2.72%. LINK has currently breached the support present at $7.46 and is hovering towards the key resistance at $8.25.

Chainlink’s RSI is currently at 64.72 revealing an increase in selling activity or hinting at a downward movement. On the other hand, its OBV is observed to be treading a sideways motion.

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Chainlink was seen to be bearish and displaying a negative momentum in the past couple of hours; with the price crashing towards $7.54. LINK’s value has improved a bit in the past few hours.

According to CoinMarketCap, LINK price is down by 2.83% or trading at $7.72

Chainlink reveals to be following a downward movement and could even plunge further. The overall market conditions also look negative with the bears trying to dominate the market.

LINK total market cap at $3.6 billion on the daily chart | Source: TradingView.com    Featured image from The Daily Hodl, Chart from TradingView.com
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Bitcoin

Has Bitcoin Price Broken Out Of Downtrend Resistance? BTCUSD Analysis October 6, 2022

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Has Bitcoin Price Broken Out Of Downtrend Resistance? BTCUSD Analysis October 6, 2022

Tony Spilotro

I’m Tony Spilotro. Behind the pseudonym, I’m a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck – literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn’t yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can’t yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge

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TA: Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge

Bitcoin price is showing positive signs above $20,000 against the US Dollar. BTC could start a strong surge if it clears the $20,500 resistance.

  • Bitcoin is gaining pace above the $19,800 and $20,000 resistance levels.
  • The price is trading above $20,100 and the 100 hourly simple moving average.
  • There is a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could gain bullish momentum if there is a clear move above the $20,500 resistance.

Bitcoin Price Remains Supported

Bitcoin price attempted an upside break above the $20,500 resistance zone. However, BTC struggled near the $20,450 zone and started a downside correction.

There was a move below the $20,000 support zone, but the price remained supported well above the 100 hourly simple moving average. It traded as low as $19,754 and recently started a fresh increase. There was a clear move above the $20,000 and $20,200 resistance levels.

Bitcoin price climbed above the 50% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. It is now trading above $20,100 and the 100 hourly simple moving average. Besides, there is also a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC/USD pair.

It also cleared the 76.4% Fib retracement level of the recent decline from the $20,475 swing high to $19,754 low. On the upside, an immediate resistance is near the $20,450 level. The next major resistance sits near the $20,500 zone.

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Source: BTCUSD on TradingView.com

A proper close above the $20,500 resistance might start another increase. In the stated case, the price could even surpass the $21,000 resistance zone. In the stated case, the bulls might aim a move towards the $22,000 level.

Dips Supported in BTC?

If bitcoin fails to rise above the $20,450 resistance zone, it could start a downside correction. An immediate support on the downside is near the $20,200 zone.

The next major support is near the $20,100 zone and the trend line. A downside break below the trend line might send the price towards $19,750. The main support is near $19,500, below which the price might start a steady decline.

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Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $20,200, followed by $20,000.

Major Resistance Levels – $20,500, $21,200 and $22,000.

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Bitcoin

Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

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Bitcoin Bulls Snap Back With The Bollinger Bands | BTCUSD Analysis October 5, 2022

Tony Spilotro

I’m Tony Spilotro. Behind the pseudonym, I’m a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck – literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn’t yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can’t yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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