LINK rose by 4% on Friday amid a five-day winning streak
The cryptocurrency faces some resistance at the 50-day MA
Investors should buy on potential correction and target $8
An intraday gain of 4% on Friday was enough to take the price of Chainlink (LINK/USD) to $6.9. The token is clearly bullish since overcoming resistance at $6. The cryptocurrency has printed green candlesticks for the past five days. There are no clear fundamentals for the surge, but expectations around Chainlink 2.0 Economics could be fueling the demand for LINK. What lies ahead?
Chainlink Staking (v0.1), one of the key changes introduced under Chainlink Economics 2.0, is very close. The developers announced that the staking feature would go live on the Ethereum mainnet on December 06. Qualifying addresses can stake up to 7,000 tokens in a capped v0.1 staking pool. The staking pool will then be granted General Access on December 08, 12 PM ET. From there, anyone can stake to the initial cap of 7,000 LINK tokens per address. The staking pool is initially capped at 25 million LINK tokens or 5% of the circulating supply.
The start of staking will allow users to participate in the growth of the Chainlink ecosystem. Users will commit their tokens to smart contracts for rewards. As with most changes, native tokens tend to overperform ahead of the key developments. Potentially, this is the reason LINK is witnessing a bullish surge.
LINK attempting recovery above the moving averages
A technical outlook of the Chainlink token shows it is on a short-term rally. The token’s price has moved above the 20-day moving average.
A bullish MACD crossover also occurred, with the indicator showing improving momentum.
Will LINK stay bullish?
The recovery above $6 gives Chainlink a chance to remain bullish in the medium term. However, the 50-day moving average offers resistance. It would be interesting to watch whether bears will force a correction at the 50-day MA.
A correction would attract buyers as long as the LINK price remains above $6. In the medium term, LINK could rise to find the resistance at $8.
Where to buy LINK
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
If you have been looking to buy Dogecoin (DOGE/USD), get ready! The selling post-FTX collapse could be overdone as buyers have defended a drop at a key level for more than two weeks. However, it is not an outright buy, as further confirmations are needed.
The general crypto mood has been responsible for DOGE’s weakness. However, the meme token has also been hit by the lack of positive developments around the acquisition of Twitter by Elon Musk. Since the acquisition occurred, there have been little to no hints from the DOGE father on the use of the token as payment.
David Gokhshtein of Gokhshtein Media has shared thoughts that could interest the Doge community. Gokhshtein says he expects the Ethereum founder to team with Musk to work on a crucial upgrade of Dogecoin. The views come when Vitalik Buterin, Ethereum founder, has been commenting about the original Dogecoin. Buterin has suggested that the blockchain should shift to the Proof-of-Stake consensus. The Ethereum code will be used in the transition if it occurs.
On his part, Musk, in May, made attempts to improve the transaction system of DOGE. With the acquisition of Twitter, it could rekindle discussions around the upgrade if DOGE is to be accepted as payment.
The daily chart shows DOGE pushing for a breakout at the $0.09 resistance. The cryptocurrency has made an intraday gain of 10%, indicating that buyers are active at the crucial level. A breakout is on the horizon.
The MACD indicator is bearish, but the weakness has abated. The RSI has moved above the neutral zone, indicating the entry of buyers.
What next for DOGE?
A breakout beckons for Dogecoin price at $0.09 if the daily candlestick closes above the level. A breakout would welcome a bullish momentum, with the next level at $0.14. Investors should watch how the price action plays out and buy on a breakout.
Where to buy DOGE
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
The crypto exchange announced HOOK token sale on Binance Launchpad.
BNB eyes $330 next and is a buy on a retracement
As Binance coin (BNB/USD) slipped below $266, it signalled the start of a bearish market. BNB has defended the level since July, and a decline below it could have given bears absolute control. However, it is now not the case as BNB trades at $295, well above the crucial level. The cryptocurrency could be on course to the next level. So, what happened?
The gains in BNB happened after November 23 cryptocurrency news. BNB’s price rose by 17% on the day after the exchange announced the Hooked Protocol (HOOK) token sale on Binance Launchpad. This is the 29th project launching on Binance Launchpad.
According to the announcement, the token sale will occur through a lottery and conclude on December 1. 25 million HOOK coins have been allocated to the launchpad, equivalent to 5% of the total supply.
The latest development comes even as Binance continues to reassure users after the collapse of FTX. A Thursday announcement indicated that Binance would commit $1 billion to protect firms from the crypto meltdown. The crypto exchange is committed to increasing the amount if needed and will seek to enlist traditional financial firms. The fund comes after a raft of measures to reassure users of adequate reserves amid a crypto confidence crisis.
BNB rose from a low of around $250 to a 2-week high of $303. The $266 has been re-established as the immediate support for the cryptocurrency.
A bullish MACD crossover has been initiated following the bullish push. Similarly, the RSI has moved above the midpoint, suggesting that BNB has attracted a lot of buyers after the breakout. The cryptocurrency is consolidating ahead of the next move.
Should you buy BNB now?
Buyers may not be done with BNB, with the area around $330 and $360 as the next target. However, if intending to buy BNB, wait for some correction to snap it lower. The current consolidation could force a correction before the next bullish leg.
Where to buy BNB
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
RavenCoin recovered slightly after Binance Pool support
The cryptocurrency trades in a descending trendline
RVN could fall further, although technical indicators have slightly improved
Ravencoin (RVN/USD) traded at $0.022 at press time after a slight correction. The cryptocurrency had developed some bullish signs previously, jumping from a low of $0.020 to $0.025. The gains came on the back of positive cryptocurrency news.
According to a November 23 announcement, Binance Pool is supporting RavenCoin. The RavenCoin mining service will use the PPS+ settlement, with the mining pool fees set at 1%. The support comes after September’s Ethereum merge fueled demand for the token. RavenCoin uses the proof-of-work consensus mechanism. Ethereum’s shift to the Proof-of-State consensus mechanism, therefore, fueled the demand for PoW tokens like RVN.
RavenCoin is itself a fork of Bitcoin, a PoW blockchain. The blockchain is a peer-to-peer network that lets users create tokens for any assets. The latest support by Binance Pool raises optimism that RVN could overcome a prolonged drop. But how bullish is the cryptocurrency?
RVN on a descending channel as gains fail to inspire a rally
Despite the recent gains, RVN is yet to overcome a steep descent that has been in place since September. The cryptocurrency trades on a descending trendline. It tested the upper bound of the trendline and is facing some resistance.
The MACD and RSI indicators are, however, positive on RVN. The MACD line crossed above the signal line to suggest a bullish reversal. However, the indicator is still bearish. Similarly, the RSI recovered slightly, but the reading remains below the midpoint.
Should you buy RVN?
RavenCoin’s momentum could last for a while. If buying RVN, you should be aware that further downsides are possible based on the price action.
Where to buy RVN
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
The crypto market has lost less than 1% of its value in the last 24 hours.
REN, TIME, and KAS are the top three performers despite the bearish market conditions.
Dogecoin and XRP have outperformed the other major cryptocurrencies so far today.
The cryptocurrency market will end the week in a negative manner. The total crypto market cap is down by roughly 1% today and currently stands at $827 billion. With Bitcoin and Ether all underperforming, we are looking at the top 20 best-performing cryptocurrencies in the last 24 hours.
Top 20 gainers in the last 24 hours
REN
REN is the best-performing cryptocurrency in the last 24 hours. It is up by 31% so far today and currently trades at $0.1062 per coin. REN is the native coin of Ren, an open protocol built to provide interoperability and liquidity between different blockchain platforms.
KAS
KAS is the native token of the Kaspa network. It is up by more than 15% in the last 24 hours and is the second-best performer so far today. Kaspa is a proof-of-work (PoW)cryptocurrency that implements the GHOSTDAG protocol.
FTT
FTT is the native token of the bankrupt FTX token. It is up by more than 17% in the last 24 hours and currently trades at $1.45 per coin.
Where to buy FTT now
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Another exchange token on this list is HT, the native token of the Huobi exchange. HT has added 16% to its value today and is now trading at $6.58.
Where to buy HT now
Skilling
Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.
The native token of the Mask Network is one of the best performers today, adding 16% to its value and is now trading at $3.07.
EWT
EWT powers the Energy Web ecosystem and has added 10% to its value so far today. It is now trading at $4.31.
BAL
BAL is the governance token for the Balancer Protocol, and the token can be used to vote on proposals. BAL is up by 8% in the last2 4 hours and is currently trading at $6 per coin.
Where to buy BAL now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
The popular meme token joins the list as one of the top performers today. DOGE has added 8% to its value and the price of Dogecoin currently stands above $0.08 per coin.
Where to buy Dogecoin now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
CHSB is the seventh-best performer in the market today and is the native coin of SwissBorg. The coin is also up by 8% in the last 24 hours and is trading at $0.23 per coin.
CEL
The native token of the Celsius cryptocurrency lending platform is also one of the top gainers this week. CEL is trading at $0.51 per coin, up by 7% in the last 24 hours.
Where to buy Celsius now
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
This is the coin of The Graph, a leading indexing protocol in the crypto space. GRT is up by 6% today and is trading at $0.062343 per coin.
Where to buy GRT now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
CSPR is the coin of Casper network, an L1 general-purpose blockchain similar to Ethereum. The coin is up by more than 5% today and is now trading at $0.0307.
THETA
The native coin of the Theta blockchain is up by nearly 5% today. At press time, THETA is trading at $0.927 per coin.
Where to buy THETA now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
STEEM is the native coin of the Steem network and is up by nearly 4% today. As the week comes to an end, STEEM is trading at $0.187535.
Where to buy STEEM now
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
WazirX is India’s largest crypto exchange. Started in 2018, WazirX has grown to be the most trusted exchange in the Indian crypto market. It is a part of the binance group, serving users in 180 countries.
CTC powers the Creditcoin network and is also up by nearly 4% today. CTC is trading at $0.3578 as the week comes to an end.
EOS
EOS joins the best performer list after moving by 3% over the past 24 hours. As the week draws to a close, EOS is trading at $0.94 per coin.
Where to buy EOS now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
OCEAN, the currency of the Ocean Protocol, is up by nearly 3% today and is currently trading at $0.131 per coin.
Where to buy Ocean now
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Bitpanda is a digital assets brokerage company. It has grown to become one of the most popular crypto exchanges in the world, as it offers a user-friendly interface, it has developed a bunch of great features and it offers a variety of coins to invest in. Bitpanda has also built a reputation for security, and it has never experienced a hack of its data before.
Golem is a decentralized supercomputer that is accessible by anyone, and GLM is its native token. GLM is up by more than 1% today and is now trading at $0.223.
Where to buy Golem now
OKX
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Ripple’s native currency is the second-major cryptocurrency to join the list after Dogecoin. The price of Ripple stands at $0.40 and is up by more than 1% today.
Where to buy XRP now
eToro
eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.
OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.
