Crypto Market Analysis: Here’s What Next for XRP(XRP), Solana (SOL) & Chainlink (LINK) Price
The post Crypto Market Analysis: Here’s What Next for XRP(XRP), Solana (SOL) & Chainlink (LINK) Price appeared first on Coinpedia Fintech News
The past weekend failed to induce enough volatility that could have lifted the Bitcoin price beyond $28,000. This has forced the majority of the altcoins to maintain a sideways trend, including the ones in the top 20. XRP price holds the $0.51 support level, Solana (SOL) is showing signs of weakness, and Chainlink (LINK) is preparing for a bullish flight! Let’s dig deeper!
XRP (XRP) Price Flashing Bearish Signals, Could Drop Below $0.5
The XRP price in the short term (4 hours) is testing the pivotal trend line, which has been followed for over a month. Selling pressure has intensified, which may compel the price to pierce through the trend line and drop within the lower support zone. This zone can be largely considered a reversal zone with deep liquidity. Therefore, significant chances of a flip emerges; otherwise, if bearish actions intensify, a drop below $0.5 to $0.48 is imminent.
Solana (SOL) Price Eyes for a Retracement Before Explosion
The Solana price experienced a massive fall in September, which was initially expected to test the lower support below $15. Nevertheless, a rebound occurred at $17.38, causing a fine rise of more than 42% to mark the monthly highs at around $24.76. Presently, the bulls appear to have been exhausted to a large extent as the price has been consolidating, forming a bull flag. Therefore, to trigger a bullish jump, the price is required to maintain a descending consolidation and reach the apex close to $23. This could further propel the SOL price towards the upper resistance above $25 in the coming days.
Chainlink (LINK) Aims for a 10% Rise
Chainlink has been consolidating below $9 for more than a year, and after facing multiple rejections at the same levels, a clear rise above has become mandatory. The LINK price is attempting again to test these levels, but the bears hindered the progress of the rally at $8.2. The LINK price faced a minor pullback but is able to hold above $7.4, indicating a probable jump beyond $8 this week. Further, if the bulls regain their dominance, the Chainlink (LINK) price may rise and test the $9 zone, but it may certainly not remain above the gains for a long time.
Filed under: Bitcoin - @ October 9, 2023 7:05 am