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Chainlink (LINK)

Chainlink Remain Strong As Alligator Flashes Relief, Is $10 Possible?

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Chainlink Remain Strong As Alligator Flashes Relief, Is $10 Possible?

After showing so much strength as the price rallied to $52, cracking up an all-time high, the price of Chainlink (LINK) saw a decline to its present value of $7 against tether (USDT). Despite the uncertainties about where the market would be headed, only a few have shown strength as Chainlink (LINK) remains in the spotlight. (Data from Binance)

Chainlink (LINK) Token Price Analysis On The Weekly Chart 

LINK saw a decline in its price from its all-time high of $52 to around $6, with an over 70% drop from its all-time high despite having good fundamentals. The price of LINK has since struggled to have a relief bounce from its weekly low.

The price of LINK bounced off after touching a weekly low of $6, and the price rallied to $10 before suffering a setback in price as it faced rejection, and the price has continued to range in this region.

LINK’s price maintained a downtrend structure with a downtrend line acting as resistance for the price of LINK, but this resistance has been broken with what seems to be a glimpse of hope, possibly to the upside of the price.

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The price of LINK continues to face resistance to break higher at around $8, a break and close for LINK price in the region of $8-$9 acting as resistance; we could see the price of LINK rally to a high of $10-$12.

If LINK fails to break above these resistances, we could see the price retesting the support at $6, acting as a demand zone for LINK prices.

Weekly resistance for the price of LINK – $8-$9.

Weekly support for the price of LINK – $6.

Price Analysis Of LINK On The Four-hourly (4H) Chart

Four-Hourly LINK Price Chart | Source: LINKUSDT On Tradingview.com

On the four-hourly timeframe, the price of LINK continues to show great strength as the price breaks above the William Alligator indicator showing a possible trend reversal. 

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The price of LINK broke to the upside of the indicator with strong volume as the price has continued to hold above the indicator. The three moving averages of the Alligator Indicator support the price of LINK in the 4H timeframe. 

The price of $7.5 that correspond to the indicator acts as a support for the price of LINK, preventing it from retesting lower support on the 4H chart. If the price of LINK fails to hold this support, we could see the price retesting the support at $7.

The Relative Strength Index (RSI) for LINK is above 50 on the daily chart, indicating moderate buy order volume. 

Daily resistance for the LINK price – $9-$10.

Daily support for the LINK price – $7.5-$7.

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With LINK getting partnerships and developers continuing to build, this will help the price of LINK hold strong in the current market condition.

Featured Image From NewsBTC, Charts From Tradingview 

Chainlink (LINK)

Chainlink (LINK) And Cronos (CRO) Post Positive Moves Amidst Market Uncertainty

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Chainlink (LINK) And Cronos (CRO) Post Positive Moves Amidst Market Uncertainty

Chainlink (LINK) and Cronos (CRO) have recently enjoyed positive price movements, despite the market’s uncertainty over cryptocurrencies. Both tokens increased around15% from their low point 7 days back.

The recent gains show that LINK and CRO are still holding strong as they continue to rank top 50 based on market cap. The two tokens also maintained a high trading volume throughout the last seven days.

Related Reading: Bitcoin And The Golden Ratio Bottom | BTCUSD Analysis September 29, 2022

Upward Trends Amidst Market Uncertainty

The entire crypto market still suffers from the recent bearish trend. However, LINK and CRO managed to maintain an upward movement amid investors’ concerns about the future of cryptocurrency markets.

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In fact, LINK has been one of the best-performing altcoins this week. It gained over 21% since last Thursday, reaching a high of $8.46 yesterday. This is not surprising considering the token’s performance in the last 30 days. LINK was able to gain around 16% this month alone.

We can’t say the same for CRONOS’ 30-day performance. However, it did manage to move upwards by 16.9% during the past seven days. Its current value stands at $0.110, which is up from its lowest point of $0.105.

CRO’s price currently hovers around $0.110. | Source: CROUSD price chart from TradingView.com

Reasons For LINK’s Positive Moves

A recent tweet from Santiment suggested that many investors opted to unload LINK holdings they purchased during a price drop. Yesterday, LINK reached a local high of $8.46, providing an opportunity for several market participants to benefit. The number of LINK transactions was four times higher than expected, according to the Santiment analytics team. 

In another tweet from Santiment, LINK stakeholder activity peaked on September 28. Despite the general bearishness in the cryptocurrency market, this helped LINK break the $8 threshold and begin a period of growth. The increase led Santiment analysts to conclude that LINK has been “decoupling” from other cryptos in the last 10 days.

The coin’s price, however, was unable to maintain the new high. According to CoinMarketCap, LINK has dropped over 0.22% in the last 24 hours to $7.89 at the time of writing.

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LINK’s price is currently fluctuating below $8. | Source: LINKUSD price chart from TradingView.com

Social Engagement Responsible For CRO’s Rise

The recent week was a breakthrough one for CRO. According to statistics from the cryptocurrency social analytics company LunarCrush, the altcoin ranked 26th in terms of market capitalization.

The previous week has also seen a surge in CROs’ social engagement. As of September 23rd, its total number of social media mentions had risen by 40% to 37,000. Also, the value of CRO’s social engagements went up by 14% over that time, reaching $61.6 million. The alt’s price rose by 13% as of September 23rd, according to LunarCrush, because of the increased interest in it on social media. 

Related Reading: Bitcoin Sees Massive Decline In On-Chain Activity

This past week saw a 1% decrease in the average seven-day supply of CRO on exchanges. To investors’ relief, this trend swung in their favor as an uptick in the indicator would’ve signaled a rise in selling pressure. As of the time of writing, CRO has gained 3.16% in value over the previous week, as measured by volume traded on CoinMarketCap.

Featured image from Pixabay and chart from TradingView.com
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Chainlink (LINK)

Chainlink Price Struggles To Break Above, Can Price Hit 10?

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Chainlink Price Struggles To Break Above, Can Price Hit 10?

  • LINK price holds strong above 50 EMA on daily timeframe with a string. 
  • LINK rallies as price eyes $10 ahead of its announcement of staking. 
  • The price faces resistance at $9 in the weekly timeframe. 

Chainlink (LINK) price showed bullish strength recently, but the price has struggled to break above key resistance against tether (USDT). With its intending staking in December 2022, there is high hope of a major rally for the price of Chainlink (LINK). Despite the uncertainty, the price of LINK has looked decent, holding up pretty well as other altcoins drop significantly in price and value. (Data from Binance)

Chainlink (LINK) Price Analysis On The Weekly Chart 

Chainlink Co-Founder Sergey Nazarov announces Staking Plans, Aims to Be Web3’s AWS, ahead of its scheduled plan to launch staking in December and a new economic model for the Web3 services platform at SmartCon 2022.

The price of LINK has recently bounced from a low of $6.5 in the weekly timeframe rallying to a high of $8 before rejecting to a region of $7, where the price has formed good support for price sell-off on the weekly timeframe.

LINK price moved from that region breaking higher to $8.5, where the price is currently facing resistance to breaking higher to a region of $10.

The price of LINK needs to break the $9 resistance with good volume for the price to have an opportunity to trend to a higher region; if the price of LINK is rejected, we would expect the price to retest the support area of $7 where demand for the price of LINK has been created.

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Weekly resistance for the price of LINK – $9.

Weekly support for the price of LINK – $7.

Price Analysis Of LINK On The Daily (1D) Chart

Daily LINK Price Chart | Source: LINKUSDT On Tradingview.com

In the daily timeframe, the price of LINK continued to show strength as the price faced rejection in an attempt to break $8.5, with the price holding strong and continuing to maintain its bullish structure. 

If the price of LINK continues to hold and maintain this structure it has formed on the daily timeframe, we could expect the price of LINK to break above $8.5 to a region of $9.

The price of LINK trades at $7.9 above the 50 Exponential Moving Average (EMA) but below the 200 EMA. The 50 EMA acts as a support while the 200 EMA acts as resistance to the price of LINK. The price of $7.5 and $9.8 corresponds to the price of 50 and 200 EMA, respectively, on the daily timeframe for LINK price.

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A break and close below $7.5 could see the price of LINK retest lower regions as this invalidates the bullish setup.

Daily resistance for the LINK price – $9.8.

Daily support for the LINK price – $7.5.

Featured Image From CoinCulture, Charts From Tradingview

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Chainlink (LINK)

Chainlink (LINK) Price Struggles Underwater, Can Price Go To $10?

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Chainlink (LINK) Price Struggles Underwater, Can Price Go To $10?

In past weeks, the Chainlink (LINK) price showed so much strength against tether (USDT) as the price of Chainlink broke out of a range as price rallied to a high of $10. The price of LINK has recently faced resistance to trend higher as the price eyes weekly support. (Data from Binance)

Chainlink (LINK) Price Analysis On The Weekly Chart 

LINK prices have dropped from around $10 to $7, finding price trading in a range as the price of LINK tries to break out of this region.

LINK saw a weekly low of $6 as price bounced from this region, currently trading at $7 as price eyes a break out to $10.

Despite showing a glimpse of strength, the price of LINK found its price rejected as Bitcoin, and other cryptocurrencies suffered a setback affecting the price of other altcoins.

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The price of LINK closed the week with good volume; if LINK maintains this momentum and volume, we could see the price of LINK retesting $10.

Weekly resistance for the price of LINK – $8.5.

Weekly support for the price of LINK – $6.

Price Analysis Of LINK On The Daily (1D) Chart

Daily LINK Price Chart | Source: LINKUSDT On Tradingview.com

After successfully breaking out of the daily channel recently, the LINK price was rejected from $10 to its daily range. The price of LINK needs to break out with good volume to trade above the range; if the price of LINK fails to break above the range, we could see price retesting daily support area to build more volume for buyers. 

The price of LINK has shown good strength as it closed the daily candle, looking bullish ahead of the day; the price needs to show a more bullish trend to trade higher.

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LINK is trading at a current value of $7.1 below the 50 and 200 Exponential Moving Averages (EMA). The prices at $7.3 and $10, which correspond to the 50 and 200 EMA, act as resistance to the LINK price.

Daily (1D) resistance for the LINK price – $7.3, $10.

Daily (1D) support for the LINK price – $6.2.

LINK Price Analysis On The One Four-Hourly (4H) Chart

Four-Hourly LINK Price Chart | Source: LINKUSDT On Tradingview.com

The price of LINK in the 4H timeframe continues to look bullish, trading slightly above the 50 and 200 EMA, acting as support levels.

LINK price must remain above this support area to have a good chance of trending higher; with good buy orders, the price could break out of the 23.6% area corresponding to the Fibonacci retracement value. 

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If the price of LINK breaks above this range, the price would go to a high of $7.5-$10 with sufficient volume.

On the 4H chart, the Relative Strength Index (RSI) for FIL is above 65, indicating buy order volume for the FIL price.

Four-Hourly (1H) resistance for the LINK price – $8-$10.

Four-Hourly (1H) support for the LINK price – $6.2.

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