Connect with us

Analysis

Chainlink, Ethereum Classic eye uptrend as Status’s recovery stalls

Chayanika Deka

Published

on

Source: Pixabay

2020 has been a conflicting year for the entire cryptocurrency market. The altcoins have spent the last two weeks consolidating, with high sell-off market sentiment and no major breakout witnessed during this time. With the most recent market rally, altcoins appeared to be eyeing potential upward price action in their pursuit to recover 2020 highs.

Chainlink [LINK]

Source: LINK/USD on TradingView

On the development side, Celsius Network recently announced a partnership with Chainlink as per which, the former will be using the decentralized platform’s price data feed oracles.

At press time, Chainlink’s native LINK token was priced at $2.30, with a market cap of $806.3 million. It held a trading volume of $209 million after falling by 2.36% over the last 24-hours.

Resistance: $3.049, $4.11

Support: $1.566

MACD: The MACD line moving above the signal line highlighted a bullish picture for the coin.

CMF: The latest spike in the CMF was indicative of the coin’s price heading towards the bullish territory.

Ethereum Classic [ETC]

Source: ETC/USD on TradingView

After the Ethereum Classic network conducted its second block reward reduction per their monetary policy at block 10,000,000, not much has changed the negative outlook which has continued for the coin’s price since.

However, there could be a reversal soon. ETC registered a market cap of $597.7 million and a 24-hour trading volume of $1.27 billion, at press time. After a minor drop of 1.40% over the last 24-hours, the coin’s valuation stood at $5.14.

Resistance: $6.96, $9.94

Support: $3.48

Parabolic SAR: The dotted markers below ETC’s candlesticks pointed to bullish momentum in the market

Awesome Oscillator: The closing green bars also suggested a bullish revival

Status [SNT]

Source: SNT/USD on TradingView

Status recently went live with version 1.0 [V1], with the core mission being the development of a decentralized web and to deliver on the promises of Ethereum at large.

At press time, SNT token was priced at $0.017 after a slight change of 0.05% towards the positive side over the last 24-hours. Additionally, it held a market cap at $61.08 million and a 24-hour trading volume of $43.35 million.

Resistance: $0.022, $0.028

Support: $0.0079

Klinger Oscillator: The KO recently sustained a bearish crossover, indicating that a price revival for the SNT token might be stalled.

Relative Strength Index: The RSI, however, was in the oversold region, highlighting positive sentiment among buyers of this token.

Did you like this article?

Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.

Subscribe to our newsletter