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Chainlink price prediction: LINK outperforms other coins in top 20

Key takeaways

  • LINK is the best performer among the top 20 cryptocurrencies by market cap, up nearly 2%.
  • Chainlink’s native coin is now trading above $25 per coin.

LINK up nearly 2% as the broader market underperforms

The crypto market was extremely bearish over the weekend, with nearly $200 billion wiped out from the market during that period. Bitcoin has dropped to the $115k zone while Ether is trading above $4,200 after failing to make a new all-time high last week.

However, LINK, the native coin of the Chainlink blockchain, is the only cryptocurrency in the top 20 to perform positively. LINK is up by more than 1% over the last 24 hours and is now trading above $25.

Its rally comes following recent developments like the launch of the Chainlink Reserve and its partnership with ICE, the company behind the New York Stock Exchange. Analysts believe that LINK is currently undervalued and its price could soar higher in the near term. LINK is currently the 11th-largest cryptocurrency by market cap after surpassing Hypiliquid’s $HYPE earlier this month.

LINK targets $30 as bullish momentum continues

The LINK/USD 4-hour chart is bullish thanks to the coin’s ongoing rally. However, it is inefficient, suggesting that LINK could sweep liquidity to the downside before continuing its rally.

The MACD lines are deep within the positive region, indicating a bullish momentum. The RSI of 59 also shows that LINK is still far away from the overbought region, indicating further room for growth.

LINK/USD 4H chart

If the rally is sustained, LINK could surge past the first major resistance level at $30 over the next few days. An extended bullish run would allow LINK to trade around $35 for the first time in four years. However, $30 could serve as a profit-taking region for long-term holders. 

On the flip side, if LINK faces a correction like the broader market, it could drop to the TLQ and support level at $21 over the next few hours.

The post Chainlink price prediction: LINK outperforms other coins in top 20 appeared first on CoinJournal.

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Dogecoin price falls to $0.22 after pattern breakdown

  • Dogecoin price is down 5% in 24 hours to hover near $0.22.
  • The DOGE price movement is similar to that of most altcoins that are seeing profit-taking.
  • Analysts are bullish on DOGE as whale accumulation continues.

Dogecoin (DOGE) has experienced a slight decline in the past 24 hours, dropping to lows of $0.22 amid a technical pattern breakdown.

The top memecoin’s price movement mirrors the broader cryptocurrency market’s price action in the past few days.

Bitcoin dipping to below $117k and Ethereum paring gains from near its all-time high buoyed bears.

While profit taking is driving current downside pressure, analysts are bullish on Dogecoin amid whale accumulation, spot ETF anticipation and long-term crypto trajectory.

Dogecoin price dips amid profit-taking

The latest decline in Dogecoin’s price has seen it breach a critical support level, driven by profit-taking and overall investor uncertainty.

DOGE reached highs of $0.24 as bulls attempted a breakout after an uptick from lows of $0.21 in the past week.

But as investors, wary of macroeconomic uncertainties, took profits, the top memecoin’s price dropped from above $0.24.

The move aligns with a rising wedge breakdown, which has accelerated the downturn to the support level around $0.22.

Bulls could face more pressure towards the psychological $0.20 area.

Despite the bearish price action, on-chain data reveals large investors are buying the dip.

Whale wallets, which have historically scooped DOGE amid price dips, have added to their portfolios.

Aggressive buying by whales has seen such wallets approach 100 billion DOGE in the past few weeks, the trend picking up momentum in the latest dip.

This is an outlook that could help DOGE price higher.

However, the memecoin is likely to hit the rocks if the Dogecoin network suffers a setback from a potential 51% attack, which could undermine network integrity if executed.

DOGE price prediction

The technical outlook for Dogecoin remains largely bullish, despite its notable dip in the past 24 hours.

However, losses have compounded to more than 12% in the past month, and the breakdown below $0.23, a critical threshold, has opened the door to further downside risks.

DOGE has, on multiple occasions, failed to convincingly break above the $0.24 mark.

With this supply wall helping to repeatedly cap Dogecoin’s upward potential, bears have tried to take advantage.

The breakdown of the rising wedge means the next target could be $0.20 or below.

Broader market conditions deteriorating will embolden bears.

DOGE chart by TradingView

Conversely, bullish signs that could help bulls include the recently formed golden cross and whale activity.

The technical indicators on the daily chart also show that DOGE is above the middle line of the Bollinger Bands, and the MACD is also holding onto the bullish picture.

Daily RSI is suggesting extended pressure, though.

If buyers reclaim the $0.23 level, a retest of $0.40 and $0.65 is possible. Analysts say a breakout to $1 in 2025 is still possible.

The post Dogecoin price falls to $0.22 after pattern breakdown appeared first on CoinJournal.