Chainlink 30% Rally Closes Record “Best” 2020 Daily Performance

Chainlink may be trading at half of its all-time high, but it just broke a new record – this time for its best single-day performance in all of 2020. With such an outstanding rebound from local lows making the early days of the rally look weak by comparison, is this a sign that Chainlink is ready to set its sights back on new price records next? Chainlink Sets Record For Best Intraday Performance In 2020 Chainlink has once again been the best performing crypto asset across the market for the…

Chainlink Could Still Set Fresh Lows Despite Yesterday’s 30%+ Rally

After a multi-week bought of grinding lower, Chainlink saw a capitulatory decline earlier this week that came about in the form of a sharp downturn. This caused LINK to plummet to lows of under $7.50 – marking a massive decline from its $20.00 monthly highs. Following the dip to this price region, the cryptocurrency incurred an influx of buying pressure that caused it to see a massive upswing that led it to highs of $10.50. The significance of this rebound cannot be overstated, as it appears to have fundamentally altered…

Ethereum Recovers Sharply, But ETH Must Clear This Level For A Sustained Rally

Ethereum is up 7% and it broke the $340 resistance zone against the US Dollar. ETH price is now facing a major hurdle near $350 and $355, above which it could rally significantly. Ethereum started a steady recovery wave from the $313 swing low. The price broke the $340 resistance level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $328 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher if…

Bitcoin may see relief rally to $11K after Dollar Strength Index soars

The price of Bitcoin (BTC) has been stagnating in recent weeks, as it couldn’t break above $11,000 and couldn’t drop below $10,000, the ultimate sign of a continued range-bound structure.  Such a range-bound and sideways structure could strengthen some relief on the markets, as the altcoins — especially the DeFi sector — have seen massive selloffs in recent weeks. However, what’s next for Bitcoin as the futures expiration day is tomorrow, which most likely will cause short-term volatility?  Bitcoin is still waiting to fill the CME gap as the downtrend…

Great Time For LINK Rally, Hints Analyst As Price Rebounds 20%

The analyst who correctly predicted a major drop in the LINK price earlier this September had eased his bearish bias on the cryptocurrency. Per the pseudonymous entity, LINK/USDT is in the middle of confirming a bottom after plunging by almost 63 percent from its YTD/record top at $20. The said downside move brought the pair inside what appears to be a reliable support range. The analyst highlighted the area in his latest tweet as he made a cautious bullish prediction. LINK/USDT is looking to establish a price floor as per…

Bitcoin price hits $11,100 wall and drops 6% — Relief rally to follow?

The price of Bitcoin (BTC) brutally rejected the $11,100–$11,300 resistance range with a 6% drop. Following the steep pullback, analysts remain cautiously optimistic toward BTC and the rest of the cryptocurrency market. Analysts have generally attributed the short-term fall of Bitcoin to the uncertainty around the COVID-19 pandemic. On Sept. 21, the Dow Jones Industrial Average fell by over 800 points at the day’s lowest point. Bitcoin, gold and other risk-on assets fell in tandem, causing a sell-off across most asset classes. The recent pullback was similar to the market…

Bitcoin Price is Primed For a Rally And Only 1 Thing is Holding it Back

Bitcoin is showing positive signs above the $10,800 support against the US Dollar. BTC broke the $11,000 level and it is currently correcting lower towards key supports. Bitcoin gained pace and traded to a new weekly high at $11,176. The price is currently correcting below $11,000, but it is well above the 100 simple moving average (4-hours). There are two major bullish trend lines forming with support near $10,900 and $10,800 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher…

Bitcoin whale clusters show $9.8K support is now weaker despite rally

According to data from Whalemap, an on-chain analysis firm that tracks Bitcoin (BTC) whales, the $9,800 support has weakened. The researchers at Whalemap track whale activities by following addresses owned by whales — individual investors that own large sums of BTC. They explained: “Some HODLer activity yesterday. Bubbles show where these HODLer coins were coming from. The biggest bubbles come from the pre-corona area at 9800. To me this means our support at 9800 just got a little weaker.” Several whale clusters at $9,800 have become larger in the past…

This Signal Could Suggest Latest Bitcoin Rally Was A Bull Trap

Bitcoin price rebounded hard from $10,000 and in a flash already found itself back above $11,000. Thus far, the key level couldn’t hold, and now signs are appearing that could suggest the rally was noting more than a bull trap and retest of resistance turned support. TD Sequential Indicator Gives Bull Trap Warning With Perfected TD 9 Sell Setup This week, Bitcoin blasted back above $11,000 but failed to hold the critical zone as it did the last time the cryptocurrency had a stretch of extended intraday upside. At the…

Ethereum Could Rally Sharply As Double Bottom Pattern Emerges

Ethereum declined recently, but it stayed above the key $355 support against the US Dollar. ETH price is likely to accelerate higher as it seems like a double bottom pattern is forming near $355. Ethereum declined below the $370 support, but it stayed above the $355 support. The price holding the main $355 support, but it is below the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $370 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay…