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HEDG, OKB, Chainlink price: Alts fight for a bullish flip

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Source: Pixabay

The prolonged downward pressure in the cryptocurrency market could come to an end as the trapped bulls gear up for much-needed upward price momentum.

Chainlink:

Source: LINK/USD on TradingView

Chainlink recently announced teaming up with cryptocurrency lender Celsius. Its native LINK token has been one of the best-performing assets during the 2020 crypto rally. This trend did not last long as it flipped bearish after the market downturn in the second week of March. However, there has been a reversal in this pattern.

At press time,  LINK held a market cap of $746.4 million with a price of $2.13. It was up by 1.48% while registering a trading volume of $203.7 million over a period of 24-hours.

Resistance: $2.34, $2.59

Support: $1.94

MACD: MACD indicator exhibited bullish projection for the coin in the near-term as the signal line was hovering below.

CMF: CMF indicator was also bullish for the token

OKB:

Source: OKB/USD on TradingView

The cryptocurrency platform, OKEx had recently announced that its exchange token, OKB has expanded 5 new application scenarios internally and externally and 5 new trading channels for spot trading. This token has also witnessed mild bullishness after sustaining major losses during the first part of March.

At press time, OKB was trading at $4.16, holding a market cap of $249.6 million. Additionally, it recorded a trading volume of $202.5 million and was up by 1.88% over the last 24-hours.

Resistance: $4.515

Support: $3.75, $3.35

Parabolic SAR: The dotted markers present below the OKB price candles depicted a bullish trend for the coin’s price in the near-term.

Awesome Oscillator: AO also aligned with the bulls.

Hedge Trade:

Source: HEDG/USD on TradingView

According to David Waslen, CEO of HedgeTrade, the project is essentially based on price predictions stored on the Ethereum network and driven by the smart contracts. A relatively new project, HedgeTrade is planning to add more assets for the traders on its platform.

In terms of its price, HEDG token was trading at $1.62 after rising by 1.63% over the last 24-hours. At press time, the 21st largest cryptocurrency registered a market cap of $467.1 million and a 24-hour trading volume of $456,041.

Resistance: $1.76, $2.07

Support: $1.52, $1.29

Klinger Oscillator: With the signal line below the leading line, KO indicator suggested a bullish phase for the token.

RSI: The RSI was in the overbought zone, this was indicative of a significant buying pressure among the investors in the HEDG market.

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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.