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- #Will BTC Hit a New High?#
BTC has broken past $100,000 and is now consolidating near its peak. What’s your outlook on the next move? With bullish sentiment on the rise, could BTC reach a new all-time high?
#Crypto Market Rebounds#
The crypto market is rallying across the board — altcoins are gaining momentum, and Memecoins are heating up! 🔥MOODENG is up over 100%, while PNUT and VIRTUAL have each gained more than 45%. The total crypto market cap has now exceeded $3.22 trillion!
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Chainlink (LINK) on the Move, Can the Rally Continue Toward $20?
The recent recovery of the crypto market has shifted the red trend to green. Major assets have made steady gains with Bitcoin (BTC) climbing into the $104.2K range, and Ethereum hovering at around the $2.3K range. Meanwhile, Chainlink (LINK) has registered an 8.51% increase.
Chainlink opened day trading at a bottom range of $14.83. Gradually, on the bullish heels, the asset climbed to a peak of $16.69, and chose to trade on the upside. At the time of writing, Chainlink trades at the $16.15 level with a market cap of $10.61 billion
Furthermore, the market observed a liquidation of $2.57 million worth of Chainlink during this period, as per Coinglass data. Notably, the asset’s daily trading volume has surged by over 150%, reaching $875 million.
Can Chainlink Hit New Highs?
Chainlink’s upside price correction has pushed the price higher to test the resistance at around $16.50. Assuming the asset’s extended gain, its price might head toward the $17 resistance range and kickstart the golden cross
A reversal of the ongoing price action could trigger it to fall toward the support zone at the $16 range. If the downside correction strengthens, Chainlink could break below the $15 support zone, inviting the death cross to emerge
LINK’s daily relative strength index (RSI), resting at 76.95, is in overbought territory, implying the asset’s potential pullback or consolidation. Besides, the Bull Bear Power (BBP) value of 1.671 signals the bullish strength and upward momentum.
Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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