Skip to main content

Biggest Movers: LINK Ends 4-Day Losing Streak, as DOGE Extends Declines

Biggest Movers: LINK Ends 4-Day Losing Streak, as DOGE Extends Declines

Chainlink was one of the notable movers on Monday, as the token ended a streak of four consecutive days of declines. The move comes despite the global market cap mostly trading lower to start the week, falling 0.23% as of writing. Dogecoin fell for a second straight session.

Chainlink (LINK)

Chainlink snapped a four-day losing streak on Monday, despite the global market cap mostly tracking lower to start the week.

Following a low of $7.32 on Sunday, LINK/USD jumped to a peak of $7.54 earlier in today’s session.

Monday’s move sees chainlink edge closer to a key resistance level of $7.65, which was last truly broken on July 30.

In addition to this, an upward crossover between the 10-day (red) and 25-day (blue) moving averages looks imminent.

Should this occur, there is a strong possibility that chainlink may not only move past the aforementioned ceiling, but closer to the $8.00 level.

At the time of writing, LINK is tracking at $7.49.

Dogecoin (DOGE)

On the other side of the spectrum, dogecoin moved lower for a second straight session, following last week’s bull run.

DOGE/USD fell to a low of $0.07409 to start the week, following an earlier high of $0.07615 the day prior.

Since peaking at a multi-week high of $0.0776 on Saturday, dogecoin has mostly traded in the red, which appears to be largely due to profit taking.

This spell of bearish pressure looks to be pushing price towards a key support level around the $0.0730 region.

In addition to this, the 14-day relative strength index (RSI) hovered close to its own floor, at the 50.00 mark.

Currently, price strength is tracking at 50.35, with the meme coin now trading at $0.07458.

Register your email here to get weekly price analysis updates sent to your inbox:

Could dogecoin move higher in the coming days? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/8rngtjo
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more