LINK eyes $25 despite bearish PA; Check forecast

Key takeaways

  • Chainlink’s LINK is up nearly 3% and is now targeting the $25 level.
  • The market is undergoing a recovery after a bearish start to the week.

LINK recovers from Monday’s dip

LINK, the native coin of the Chainlink blockchain, lost roughly 8% of its value on Monday as the market opened the new week bearish. The flush saw LINK drop to the $20.3 low yesterday, but it has now slightly recovered.

At press time, LINK is trading at $21.835 per coin, and could rally higher in the near term as the broader crypto market embarks on a recovery. BTC reclaimed the $113k level earlier today, while Ether, XRP, SOL, BNB, and DOGE are all performing well over the last few hours.

Chainlink remains one of the most widely used blockchains in the crypto space and beyond. As it continues to gain adoption, LINK’s value could soar higher in the medium to long term.

LINK targets $25 as $20 support holds

The LINK/USD 4-hour chart is bearish and efficient as LINK lost 8% of its value over the last seven days. The momentum indicators remain bearish but are showing signs of recovery in the near term. 

The MACD lines crossed over into bearish territory during the weekend, with the RSI of 36 also confirming a bearish bias in the near term. 

LINK/USD 4H Chart

If the bearish trend continues, LINK could retest the $20.3 low again over the next few hours. Failure to defend this low could see LINK drop below $20 for the first time since August 9.

On the flip side, if the market recovery gains momentum, LINK could surge higher and hit the TLQ level at $23.89 over the next few hours. An extended bullish run would allow the coin to touch $25 for the second time this month.

The post LINK eyes $25 despite bearish PA; Check forecast appeared first on CoinJournal.

Solana price prediction: SOL could reclaim $250 soon as bears lose momentum

Key takeaways

  • SOL is down 1% in the last 24 hours and is now trading below $220.
  • The coin could reclaim the $250 psychological level soon if market recovery continues.

SOL dips below $220

As seen in recent weeks, the cryptocurrency market began the new week in a bearish mode. Bitcoin dropped below the $112k mark while Ether temporarily tested the $4k support level.

SOL, the native coin of the Solana blockchain, also lost roughly 5% of its value on Monday, dropping to the $212 support level. However, it has slightly bounced back and is now trading at $219 per coin. 

The positive performance comes as the broader cryptocurrency market embarks on a recovery. Bitcoin reclaimed the $113k mark earlier today, while Ether is now eyeing the $4,300 region.

SOL is also recovering excellently and could reclaim the $250 psychological level in the near term.

SOL could surge to $250

The SOL/USD 4-hour chart is bearish and efficient, as Solana has lost 7% of its value over the last seven days. The technical indicators are also negative, suggesting that sellers remain in control.

However, the bears are losing steam as SOL has found support around the $212 region. The RSI of 34 is below the neutral 50, indicating a bearish trend. The MACD lines also dropped below the neutral zone over the weekend.

SOL/USD 4H Chart

If the selloff continues, SOL could retest Monday’s low of $212 over the next few hours. An extended bearish run could see the cryptocurrency drop below $200 for the first time since September 1st.

However, the broader crypto market is undergoing a correction. If the correction persists, SOL could reclaim the nearest resistance and TLQ level at $250 over the next few hours. It would need the support of the broader cryptocurrency market if it intends to hit $260 for the first time since January.

The post Solana price prediction: SOL could reclaim $250 soon as bears lose momentum appeared first on CoinJournal.

Can XLM price breach past the $0.5 mark?

  • Stellar’s recent performance reflects its growing alignment with XRP’s market dynamics, as bulls capitalise on demand.
  • XLM could break to $0.41 and target a $0.58-$0.80 price range.
  • Stellar’s XLM token is trading at $0.39, with a price increase of over 4% in the past 24 hours.

Stellar (XLM) price rose slightly on Tuesday, with about 4% gains pushing the XLM value to above $0.37.

The XLM token, which has gained amid upticks for Ripple’s XRP, outpaced the rival as several coins looked to put Monday’s rout in the rearview mirror.

Even though Stellar remains well off its all-time high reached in 2018, the latest spike signals a potential resilience as Bitcoin, Ethereum, and XRP hold onto gains.

NEAR Protocol is among the outperformers on Tuesday morning.

Stellar price today

Stellar’s XLM token is trading at $0.39, with a price increase of over 4% in the past 24 hours.

According to market data by CoinMarketCap, XLM’s price gains come as daily trading volume experiences a 10% down flip.

The volume of over $297 million is nonetheless robust.

Other than ETF buzz, Stellar has benefited from milestones such as asset tokenisation and regulatory shifts.

Stellar has also seen a major institutional interest in real-world assets.

During Meridian25, the Stellar Development Foundation announced access to more than $3 billion in RWA on Stellar.

Issuers tapping into XLM’s ecosystem include PayPal, Ondo Finance, Mercado Bitcoin, Centrifuge and RedSwan Digital Real Estate.

The recent launch of PayPal USD on the Stellar network has bolstered transaction activity.

Meanwhile, the increase in Stellar’s total value locked signals growing institutional confidence.

XLM price forecast

Technical indicators and network developments are key metrics to watch when looking at Stellar (XLM) price.

From a technical analysis perspective, XLM is poised at the key support level near $0.35.

The broader picture remains largely negative with XLM in a descending triangle pattern.

Both the daily RSI and MACD signal weakness, and prices could fall to $0.30 and revisit $0.21 in the short term.

XLM price chart by TradingView

However, analysts say crypto is still bullish despite the bloodbath seen on Monday.

If sentiment flips positive, analysts project that a significant upward move will materialise.

The RWA traction and partnerships like those with Mastercard and MoneyGram strengthen Stellar’s appeal for institutional adoption.

With institutional interest rising and technical upgrades enhancing its network, XLM is well-positioned for potential growth.

Bitcoin’s holding above $112k has bolstered bulls, though analysts suggest investors should remain vigilant of market volatility.

If bulls break to $0.41, a potential breakout will unfold and contribute to XLM’s march to $0.58.

Crypto analysts have pointed out that current Stellar price levels could be a great buy-the-dip opportunity.

 

 

The post Can XLM price breach past the $0.5 mark? appeared first on CoinJournal.