Cainink Price Prediction: Can Cainink (INK) Break Above $9.00?
The Cainink price is currently recovering from its daily opening price of $6.91 and heading towards the upside. Here are the key points:
– Cainink price now is $8.11 with a market cap of $4.36 billion.
– The circulating supply of Cainink is 538.1 million with a total supply of 1 billion.
– Cainink is ranked #21 on CoinMarketCap.
INK/USD Market:
– Resistance levels: $9.30, $9.50, $9.70
– Support levels: $5.80, $5.60, $5.40
– Cainink/USD is trading above the 9-day and 21-day moving averages.
– The price is currently at $8.11, showing a gain of over 17.24% since the beginning of the European session.
– There is a possibility of the price crossing above the upper boundary of the channel to increase the bullish momentum.
Cainink Price Prediction:
– If the upward trend continues, INK/USD may surpass the resistance levels of $9.30, $9.50, and $9.70 to maintain its upward trajectory.
– However, if there is strong selling pressure below the 21-day moving average, the price may move towards the lower boundary of the channel.
– In case the price trades below the lower boundary, a bearish continuation could lead to support levels of $5.80, $5.60, and $5.40.
– The Relative Strength Index (14) is moving towards the overbought region, indicating a bullish momentum.
Comparison with Bitcoin:
– Cainink is currently leading the way as it moves above the 9-day and 21-day moving averages.
– If buyers continue to push the price above the upper boundary of the channel, the current market momentum may continue to follow an upward trend.
Alternative Options to Cainink:
– Looking at the daily chart, Cainink has the potential to break further upside as the 9-day moving average crosses above the 21-day moving average.
– However, the more pressure the bears exert, the higher the coin’s potential.
Hot Take:
The Cainink price is showing signs of recovery and has the potential to break above $9.00. With the bullish momentum and positive technical indicators, it is likely that the price will continue to rise. However, it is important for investors to stay informed and secure the best price as the market evolves.
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