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Tag: Chainlink

  • Chainlink (LINK) – The Price drops almost 10%.

    Chainlink (LINK) – The Price drops almost 10%.

    At the time of writing this article, LINK has a value of $19.44 (3.11% decrease today) with a trading volume of $1,184,377,497 with a decrease of about 15.08% over the past 24 hours. Among the coins that have lost a lot. Link is one of the top losers.

    LINK is listed on coinmarketcap in 22nd place. It has a market dominance of about 0.41%. LINK had created its all-time high around the price of $53 in May 2021 and later fell down to the price of $13.38 in July.  This month has been bearish for the price and we have seen a decrease of about 21.53% in December. November was also bearish for the price and we saw a drop of about 15% in the price.

    The maximum supply of LINK is around 1B while the current circulating supply is around 467M coins.

    Technical Analysis – Chainlink (LINK)

    It can be seen that on the daily time frame, LINK had shown a reversal in the structure a few weeks ago. This happened when the price failed to create another high and faced massive rejection at the top. This can be seen in the chary clearly.

    The price had also left an imbalance while falling down. As a result of this move downwards, LINK had created a daily order block, that hasn’t been mitigated right now. Now the price is now falling down. We can see that the price has had a massive buying at the bottom and a big wick has been created. This left an imbalance on the downside as well.

    LINK - 1D

    Now the possible points to notice are the presence of imbalance below and the order block that is present above with the equilibrium for the consolidation present there two. The price can show two movements at that point. The first is that the price of LINK would reverse from the equilibrium position and drop down to touch the imbalance zone around the wick. The price can also do a possible fake-out, but the chances are that if it gets there, it will drop down.

    The second possibility is that the price could move towards the daily order block. From this point, two different scenarios should be taken into consideration. To look for a possible good entry setup, lower time confirmations should be taken into consideration.

    Price Prediction – Chainlink

    According to wallet investor, LINK is one of the most successful investments in the market. According to their predictions, LINK is expected to reach a value of $34.914 in a time span of one year. For a five-year plan, the price is expected to reach a value of $99.066.

  • Chainlink (LINK) coin price prediction: Towards $30

    Chainlink (LINK) coin price prediction: Towards $30

    In line with the market trend, Chainlink (LINK) has been suffering from bearish divergence. The recent price movements show the cryptocurrency to be consolidating with decreased volatility. At the time of writing, Chainlink (LINK) stands at a price level of $18.90. The price has had a minor downside correction in the daily timeframe while the trading volume appears to be increasing.

    Chainlink (LINK) Technical Analysis

    The technical indicators suggest strong bearish momentum. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell while nine are neutral with two indications of buy. The oscillators are neutral while the moving averages are strongly bearish.

    Chainlink (LINK) technical analysis
    Chainlink (LINK) technical analysis

    Chainlink (LINK) had been previously identified to be operating below a descending trendline; however, the market observed bullish momentum which resulted in the cryptocurrency breaking the resistance line. Chainlink has now begun the formation of a coherent wave count. If the analysis plays out, Chainlink will be moving upwards – although with market corrections. LINK coin is expected to test the support level at $17.50 after which it will embark on an uptrend. The price target LINK crypto may be aiming for is $25 followed by $31.

    Chainlink (LINK) price prediction

    The decentralized oracle network had been under the spotlight in the bull run of 2021 with its offering being considered as crucial to the blockchain infrastructure. The long-term price predictions of LINK coin are favorable. Wallet Investor’s one-year price projection places the cryptocurrency at a price of $47 while the five-year prediction shows LINK crypto at $161.  Digital Coin Price also predicts an uptrend to be observed in the price action of Chainlink. According to their estimates, Chainlink will be operating at a price of $27 by the end of 2021 while the cryptocurrency is expected at $81 by the year 2028.

  • Chainlink (LINK) coin – What to expect?

    Chainlink (LINK) coin – What to expect?

    Chainlink (LINK) dropped to a low of $17 amidst the market crash. The cryptocurrency has been increasingly volatile ever since it picked back up. At the time of writing, Chainlink stands at a price level of $22. The price of LINK coin has declined by 7% in the daily timeframe while the daily trading volume has increased by 25%. Chainlink is on a downtrend and the low of $17 may be retested by the cryptocurrency.

    Chainlink (LINK) Technical Analysis

    The market sentiment for Chainlink is bearish. Out of the total twenty-six technical indicators, fifteen are giving out a signal of sell with ten standing at a neutral position and only one indication of buy. Both the oscillators and moving averages are bearish for LINK coin.

    Chainlink (LINK) Technical Analysis
    Chainlink (LINK) Technical Analysis

    Chainlink (LINK) has been identified on an upward trend by a trader. However, the recent bearish momentum in the market is expected to lead the cryptocurrency towards testing various important support levels. The first zone is from $10 to $20. If LINK coin cannot stabilize as low as $10 then it will enter $5 to $10 support zone. However, a trend reversal can also happen – given the recent increased volatility of the Chainlink coin. The identified trajectory is also expected for Bitcoin; hence, Chainlink is following the king of cryptocurrencies.

    What to expect from Chainlink (LINK)?

    Chainlink had risen to popularity with its unique proposition that connects enterprises with the blockchain. However, the recent volatility and majorly bearish momentum of the market has led to the cryptocurrency falling. Address data reveals that there haven’t been any recent increments to retail traders over the past month. Trader addresses holding LINK for less than a month have observed a drop as well. Overall, active addresses have shown low levels. The data may indicate that traders and investors are largely bearish and LINK may continue to spiral downwards.

  • Cryptocurrencies to watch this week

    Cryptocurrencies to watch this week

    Cryptocurrencies have been gaining momentum as the market recovers after the crash. We have compiled a list of some of the cryptocurrencies that have shown great potential to watch out today!

    Theta Fuel (TFUEL) is one of the high performing cryptocurrencies of the week. Theta Fuel has increased by 23% in the past week – making it a top performer. Theta Fuel has regained from its 30-day low of $0.16 and is trading hands at $0.35 at the time of publication. Theta Fuel’s price has increased by 5% since the past day while the daily trading volume has also increased by nearly 30%. Theta Fuel is a gas and utility token in the Theta ecosystem along with Theta (THETA) which is the governance token.

    One of the top-performing coins of the week is Enjin Coin (ENJ). The cryptocurrency has had a 20% increase in the past week. It has been a painful recovery process but Enjin Coin has done it with the highest growth achieved in the week. Enjin Coin had fallen from a high of $4 to a low of $1.09. At the time of writing, the cryptocurrency stands at $1.56. The price has fallen 5% in the past day while the daily trading volume has also declined by 50%. Enjin is a social gaming platform on the blockchain.

    Decred (DCR) has had a growth of 11% in the week. Decred established its all-time high at $250. It subsequently fell to a 30-day low of $88. Having gained backed momentum ever since the cryptocurrency is trading hands at $159 at the time of press. Decred crypto has paused its upside moment and has declined by 8% in the past day while the daily trading volume is increasing.

    Helium (HNT) has been a good performing cryptocurrency ever since the market crash. It was one of the cryptocurrencies with the lowest decline. Helium established its all-time high three days ago, right after the market crash when cryptocurrencies were struggling with bullish momentum. The ATH has been established at $23. Helium has declined ever since with a price of $15 at the time of writing but the price had been decreasing the past twenty-four hours.

    Chainlink (LINK) has been increasing in the weekly timeframe. The decentralized oracle provider has become one of the sought-after projects. Chainlink has been on sharp pullbacks to the upside ever since the strong bearish momentum subsided in the market. After a low of $15, Chainlink has increased by nearly 50% – currently standing at $30 at the time of press. The price has been on a slight downtrend in the past twenty-four hours while the daily trading volume has also declined by 30%.

  • Chainlink (LINK) coin upcoming resistance at $36

    Chainlink (LINK) coin upcoming resistance at $36

    Chainlink (LINK) established its all-time high at $52.88 in the beginning of the month. However, the growth of the cryptocurrency was nearly reversed as it fell to a low of $20 in the market crash. Chainlink crypto has shown some bullish momentum in the recent price movements. At the time of writing, Chainlink crypto stands at a price level of $31. The price of the coin has increased by 20% since the past day while the daily trading volume is also on the rise.

    Chainlink (LINK) Technical Analysis

    The market sentiment for Chainlink is bearish as is the whole cryptocurrency market. A majority of the technical indicators are suggesting the bearish trend to continue. Out of the total twenty-six technical indicators, ten are giving out a sell signal while ten are standing at a neutral position and six are indicating a buy signal. The oscillators are mainly neutral while the moving averages suggest a downtrend.

    Chainlink (LINK) Technical Analysis
    Chainlink (LINK) Technical Analysis

    As Chainlink crypto has picked up bullish momentum, the cryptocurrency is near various important resistance and support levels. LINK coin had tested the Fibonacci support level at $18 from where it rebounded to the upside. Currently, the cryptocurrency has broken the resistance level at $30 which lies parallel to the Fibonacci level of 0.5. The next resistance is lying at the 0.382 Fibonacci level which lies parallel to the price level of $36, followed by $42 at 0.236 Fibonacci retracement level. Chainlink is also being supported by the Fibonacci level of 0.618 at the price of $25.5. Overall, the recent candles on the daily timeframes are bullish so Chainlink may be expected to go upwards.

    What is Chainlink?

    Chainlink (LINK) had gained increasing popularity in the bull run of 2021 and it is believed to be one of the projects that may become crucial to the blockchain ecosystem in the coming days because of its offering. Chainlink is primarily a decentralized oracle provider. The network provides crucial data to the blockchain by employing smart contracts.

  • Chainlink (LINK) price developments: What to expect?

    Chainlink (LINK) price developments: What to expect?

    Chainlink (LINK) has been amidst strong bullish momentum after the cryptocurrency succumbed to bearish pressures. The surging Chainlink coin established a new all-time high at $52. At the time of publication, Chainlink was trading hands at a price of $51 apiece. The price of the cryptocurrency has increased by 6% in the daily chart while the daily trading volume of Chainlink has gone up by 60%. The decentralized oracle service has proven to be an integral part of the cryptocurrency sphere.

    Chainlink (LINK) technical analysis

    The market sentiment for Chainlink is bullish. Fourteen of the twenty-six technical indicators are giving out a signal of buy with seven standing at a neutral position. Five of the remaining indicators are giving out a signal of sell. The oscillators are bearish with an overall indication of sell while the moving averages are bullish with an overall indication of strong buy.

    A trader has identified Chainlink crypto to have formed a coherent wave count. Per the trader’s analysis, Chainlink has completed the formation of all five waves, portraying strong up and down volatility. While forming the wave count, LINK coin has also established various support levels which are crucial for the cryptocurrency to hold. Currently, Chainlink is on an upside move – an extension of the fifth wave. However, bearish momentum may soon overtake the market as minor retracements usually follow after impulsive moves. In that case, the price level of $46 will prove to be a strong support for Chainlink.

    Chainlink (LINK) price prediction

    Trading Beasts is projecting a gradual increase in the price of Chainlink over the years. The upward trend will result in Chainlink having a price of $61 by the end of 2024. The 2021 predictions for Chainlink are bearish with the year ending at $38. Digital Coin Price predicts Chainlink crypto will end the year with a value of $76 while it is expected to climb up towards $224 by 2028. Wallet Investor has issued a one-year prediction at a price level of $671 with the five-year prediction at $2332

  • Best Cryptocurrencies to Watch in 2021

    Best Cryptocurrencies to Watch in 2021

    With the pandemic starting in 2020, cryptocurrency stocks have seen a new interest as the world has started to see a larger appeal in digital currency and Bitcoin has been at the forefront of everyone’s mind. With the start of the new year, cryptocurrency stocks have gained a lot more traction and reached past the $20,000 and $40,000 marks in a short amount of time. Earlier, an investment of $1.5 billion was made by Tesla into Bitcoin, which once again gave it the boost it needed with it breaking its $50,000 high mark. Some of the best cryptocurrency stocks expected to keep rising this year are:

    Bitcoin (BTC)

    It’s hard to talk about cryptocurrency without mentioning the cryptocurrency giant Bitcoin which has been dominating the market since the start of 2009. BTC suffered in 2018 but it proved itself strong to recover and surge higher than $40,000 in the start of this year with a market cap larger than $1 trillion. Bitcoin also has the edge with being the biggest known name in the world of cryptocurrency which makes it attractive to new buyers. Bitcoin has also been the inspiration for Bitcoin creators to introduce new features like Bitcoin Cash.

    Stellar Lumens (XLM)

    Like Bitcoin, Stellar (XLM) has also made a big comeback this year after its previous struggles and has come through with new and interesting projects such as its most recent $5 million investment in Wyre, a dominant blockchain payment provider which let Stellar access to new currency pairs. XLM has even been preferred as the blockchain for Ukraine’s central bank. With the way Stellar has been dealing with savings and compliance accounts such as Wyre, it has seen 260 per cent more growth of its users and this could lead to it becoming a new Pay Pal company.

    Chainlink (LINK)

    Chainlink is an Ethereum platform which works between two parties engaging in a blockchain network and records the transaction into data blacks. While a lot of other platforms working these transactions need to use real data to execute smart contracts, Chainlink has come up with the innovative solution of using oracles to revive the needed data for the network while ensuring that the data stays safe for the smart contracts. With the confidence the platform has been gaining, it is become a top choice for cryptocurrency and decentralized finance is also contributing to this.