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Analysis

Bullish sentiment in play as price of Chainlink, Bitcoin Gold and Decred rises

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14th ranked Chainlink surged by 7.12 percent over the past day as its market cap improved to $812 million. With a trading volume of $270 million, the valuation hiked from $2.213 to $2.33 at press time.

Awesome Oscillator suggested that bullish momentum in the charts was high but Chaikin Money Flow indicated high capital outflow.

LINK/USD on Trading View

 

BTG/USD on Trading View

Following a similar pattern to LINK, BTG’s priced improved from $6.95 percent to $7.562 as a hike of 7.75 percent was exhibited. The market cap continued to be under $130 million and trading volume was $18.8 million in the past 24-hours.

MACD hinted at a slight bullish advantage and Bollinger Bands suggested that volatility may reduce in the near-term as the bands converged in the charts.

Bitcoin Gold, however, faced a lot of criticism from the community as it was hinted that a single whale controlled half the supply.

DCR/USD on Trading View

Decred completed that rally with a 5.09 percent hike as the price improved from $11.08 to $11.81 in the market. Relative Strength Index indicated that buying pressure was increasing at the moment as the market cap of the asset improved to $124 million.

It also registered a healthy trading volume of $71.5 million over the 24-hour but Bollinger Bands suggested that the market could expect volatility in the short-term.

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Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.