Chainlink Forms Crucial Ascending Triangle as Analysts Eye Move to $15

All eyes are on Chainlink (LINK) as the altcoin market resumes its recovery. The price of the leading cryptocurrency has gained 25% in the past week, reclaiming the $13 support as buyers have flooded back in. Chainlink is primed to move higher in the weeks ahead, analysts say. They cite positive fundamental trends and technical formations on the chart. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Chainlink Forms Bullish Pattern Analysts are optimistic about Chainlink as the cryptocurrency forms a short-term uptrend after plunging last…

Chainlink is an Inch Away from Breaking a Key Resistance Level: Analyst

Chainlink has firmly broken above the $13.00 level that has been suppressing its price action for the past few weeks. This is a notable breakout and suggests that the crypto may be on the cusp of seeing significantly further upside. Its price has been stuck below this level for the past several weeks, and breaking above it today was a major step towards it revisiting its previous all-time highs in the weeks ahead. Analysts are now widely flipping long on the cryptocurrency, with its ongoing upswing being bolstered by a…

VeChain charts 23% weekly growth as Chinese officials talk usage post-epidemic

The price of VeChain (VET) extended its rally on Wednesday, building off a solid week of gains following discussions with Chinese government officials centered on a post-epidemic health response.  VeChain rose 2% on Wednesday to reach $0.011669, according to CoinMarketCap. Over the past seven days, the supply-chain management cryptocurrency is up over 23%. Only two other top-30 coins — NEM (XEM) and Chainlink (LINK) — have outperformed VET over the past seven days. Source: CoinMarketCap At current values, VeChain has a market capitalization of $751 million. The cryptocurrency’s uptrend appears…

Behind the Shroud of Cred’s Tragic Bankruptcy

Key Takeaways Cred abruptly filed for bankruptcy on Oct. 7 due to a series of internal lawsuits and alleged fraud. Sources close to the company revealed another side to Cred’s shutdown not portrayed in the filings. Throughout the company’s financial woes, customers and employees were kept in the dark as to the real nature of Cred’s problems. Share this article Cred rose to fame by enticing retail investors to earn up to 10% on their idle cryptocurrency. It attracted support from influencers like Litecoin’s Charlie Lee, TechCrunch founder Michael Arrington,…

OCC is too caught up in crypto under former Coinbase exec, congresspeople say

Brian Brooks, the former Coinbase executive turned leader of the U.S. Office of the Comptroller of the Currency, or OCC, recently received a letter from multiple members of Congress expressing concerns over his crypto-heavy leadership. The letter, from Stephen Lynch and Rashida Tlaib, two congresspeople for Massachusetts and Michigan respectively, also holds signatures from Jesús García, Deb Haaland, Barbara Lee and Ayanna Pressley — representatives from Illinois, New Mexico, California and Massachusetts.  The letter references the OCC’s “recent unilateral actions in the digital financial activities space, including interpretive letters on cryptocurrency custody,…

World Economic Forum calls blockchain key to sustainable digital finance

The World Economic Forum (WEF) believes blockchain represents a core element of sustainable digital finance — a new paradigm that combines emerging technology with environmentally-conscious business models. In a new report published Wednesday, UBS executive Karin Oertli lists blockchain technology along with artificial intelligence, mobile platforms and the Internet of Things as being the cornerstones of digital finance. These technologies, when combined with environmental, social and governance (ESG) frameworks, could help governments and corporations reach their lofty sustainable development goals. Oertli says: “We believe that sustainable digital finance will play…

Bitcoin monthly candle close signals possible megarally in December

Historically, when a Bitcoin (BTC) monthly candle closes above previous candles, the digital asset has seen a prolonged rally. Atop this high time frame pattern, Bitcoin’s monthly candle in September closed above $13,000 for the first time since 2017. Furthermore, the dominant cryptocurrency has shown signs of a clear breakout throughout the past two months. BTC/USD monthly chart. Source: TradingView.com Why Bitcoin may be at the cusp of a new rally In terms of the “BTC rally” narrative, the timing for a new Bitcoin rally makes sense. First, and perhaps…

Bitcoin Looks to Break $16,000 For First Time Since Early 2018

After a strong drop earlier this week as the U.S. Dollar bounced, Bitcoin has returned to an uptrend. The leading cryptocurrency currently trades for $15,930, $40 below the year-to-date highs, and $70 below the critical $16,000 resistance level. Altcoins are rallying too. Ethereum has gained 5% in the past 24 hours as it has reached its highest price since the summer rally. Analysts are hopeful that Bitcoin will continue its ascent as the fundamentals and the technicals of this space suggest further growth is ahead. Related Reading: Here’s Why Ethereum’s…

Bitcoin Rally Seemingly Unstoppable, Revisits Recent High Around $16K

Bitcoin price continues to be propelled higher from aggressive dip buyers looking to ride the new bull market beyond $20K. But first, the cryptocurrency has to get through just under $16K where it was stopped in its tracks just days ago. Today, the cryptocurrency is back at the key level and making its third attempt at breaking upward out of what appears to be a bullish ascending triangle pattern. Will the cryptocurrency make it beyond $16K and revisit its previous all-time high? Bitcoin Retakes $15,900, Less Than $100 Away From…