Chainlink (LINK)
Chainlink (LINK) broke its losing streak on Monday and showed a positive movement in the market. Here are the key points:
- After hitting a low of $7.32 on Sunday, LINK/USD surged to a high of $7.54 today.
- Chainlink is approaching a crucial resistance level of $7.65, which was last broken on July 30.
- The 10-day moving average is about to cross over the 25-day moving average, indicating a potential upward movement.
- If the crossover happens, Chainlink may not only surpass the resistance level but also move closer to the $8.00 mark.
- Currently, LINK is trading at $7.49.
Dogecoin (DOGE)
Dogecoin (DOGE) experienced a downward trend for the second consecutive session. Here are the key points:
- DOGE/USD dropped to a low of $0.07409 at the beginning of the week, following a high of $0.07615 the previous day.
- The recent bearish pressure is likely a result of profit taking after last week’s bull run.
- Price is approaching a significant support level around $0.0730.
- The 14-day relative strength index (RSI) is hovering close to the 50.00 mark.
- Currently, DOGE is trading at $0.07458.
Hot Take:
While Chainlink shows signs of a potential upward movement, Dogecoin seems to be facing bearish pressure. It will be interesting to see if Chainlink can break through its resistance level and reach $8.00, while Dogecoin aims to find support and break free from the current downward trend.
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