Chainlink (LINK) Sees Significant Price Surge, Eyes Previous High
Chainlink (LINK) has experienced a notable increase in price, surpassing the $6.5 mark and reaching a market capitalization of $4 billion. This upward trend suggests that LINK may soon surpass its previous high of $7.13 from earlier this month, indicating a potential comeback.
LINK’s Ascending Triangle Signals Bullish Momentum
The bulls have maintained their position over time, bouncing back on the lower trendline at $5.8. This bullish trendline indicates that it has found support at this level. Additionally, there is evidence of an ascending triangle formation in the price, which typically signals the potential for increased bullish momentum to push it above the triangle.
This bullish outlook is supported by the relative strength index (RSI), trading at 65, indicating intense buying pressure. Moreover, the price is trading above the 50-day and 200-day moving averages, currently at $6.4.
LINK Appears Bullish
Based on this analysis, the trajectory of the LINK price appears bullish, with key levels to watch at $8 and $8.7. Conversely, if the bears take over, the price may break downward and find support around the $6.5 level.
While waiting for a more favorable entry point for LINK, investors may consider exploring Meme Kombat (MK), a recently launched token offering robust P2E gaming and staking with an enticing presale.
Meme Kombat (MK) Presale Reaches $62k After Launch
Meme Kombat (MK) is a native token operating on the Ethereum blockchain. Its presale started on September 21 and successfully raised over $62k, indicating strong initial interest from investors.
MK differentiates itself by combining memes and play-to-earn (P2E) gaming on the Ethereum blockchain. Investing in the Meme Kombat presale allows for automatic staking of purchased tokens and the accumulation of rewards.
MK P2E Gaming, Tokenomics
The Meme Kombat Token ($MK) is at the core of the project. It serves as the primary currency for the Meme Kombat arena game, automates battles, enables wagering, and supports staking for passive income. The presale offers 12 million tokens for purchase, with proceeds allocated to various purposes such as raising capital and building the community.
30% of the total supply is designated for staking and battle rewards, 10% supports decentralized exchange listings, and another 10% is allocated for community rewards.
Hot Take: Explore Meme Kombat’s Potential
With Chainlink showing signs of a potential comeback and Meme Kombat’s unique offering in the P2E gaming space, it’s worth considering these projects for potential investment opportunities. Keep an eye on LINK’s price as it aims to surpass its previous high, while exploring the potential of MK in combining memes and gaming on the Ethereum blockchain.
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