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Wednesday, November 25, 2020

LINK Price Tests $14 As XRP, BCH remain Relatively Stagnant

Chainlink continues to lead a pride of oracle tokens which has garnered much attention from the crypto markets lately. As there appear to be a shift towards altcoins with tangible business propositions, LINK, of course, retains the identity of the most controversial and top gainer cryptocurrency of the last two months.

In comparison however, XRP seems to retreat from the $0.3 area as prices find support around $0.29. This little retracement puts a pause to XRP’s gallant gains of the last three weeks as the top cryptocurrency struggles to keep its head above waters.

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Bitcoin Cash on the other hand has conveniently crossed the $305 level and found support around $309. Bitcoin cash rivals Ethereum which has already made impressive gains alongside other major altcoins.

BCH and XRP, in comparison to the gains accrued by Chainlink seems to be on a gaining vacation which may only take a while.

#1. ChainLink (LINK 7.23% Gain):

Being first on this list, we have Chainlink. This substantial crypto which has already accomplished more than 50% gain within the last one week is reporting some more gains this time.

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Abundant traders are bullish on LINK and prices may behave very bullish in the short term.

The Coin is up by over 500% in the last year and around 120% within the last month. Although it lost 0.6% in the last hour, LINK is positive in the daily timeframe.

Technical Indicators

Next major resistance at $15

Next major support level at $13.5

Resistance Strength Index entered the 70.0 overbought condition and may drive prices down in a possible correction.

LINK is trading at $13.96 and its market cap is fluctuating around $4.0 billion.

#2. Bitcoin Cash (BCH less than 1% Gain):

Bitcoin Cash enters second on today’s record of gainers with less than 1% gain.

This prime cryptocurrency has a relatively good market opinion with around 56% of market respondents keeping up positive about BCH.

Within the last year, the coin is down 2.7% while the one month timeframe looks bullish at 28.4%. Within the last two weeks, Bitcoin cash gained around 23.6% but has lost 0.7% in the last hour.

BCH is presently trading at $269.02 with additional upside apparent in the short term.

Technical Indicators

Prices are barely above the top of the Bollinger Band indicator. This indicates a bullish ride further which may support prices to the $310 level.

The Resistance Strength Index (RSI) is flat at the 60.0 level. RSI will approach the overbought condition and may speed further up in the short-term

* RSI is approaching 70.0

* BCH/USD currently trades above Bollinger band top which indicates a bullish move further

* Next level of major resistance $310

* Next level of major support at $305

#3. Ripple’s XRP (XRP 1.43% Gain):

Ripple‘s XRP appears to have plunged a bit on the list of top gainers with 1.43% uptrend.

XRP’s huge community stay positive about the top cryptocurrency with about 62% bullish votes for the continuous trading day.

XRP’s chart peeks balanced in the one-year timeframe with around 0.1% gain. Although the coin is up through 50% in the one-month timeframe, more gains were accrued within the last two weeks at around 40%

XRP is presently trading at $0.296 and its market cap continues to thrive towards $10 billion.

Technical Indicators

  • Prices failed resistance at $0.3 and will look to retest the area shortly.
  • RSI fell below the oversold condition at 30.0
  • XRP trends above the midline of the Bollinger indicator.
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