Chainlink (LINK) Could Face Correction, Says Trader
A popular crypto trader suggests that Chainlink (LINK), a leading blockchain oracle provider, might experience a significant correction. According to Rekt Capital, the trader and analyst, for LINK to move higher, it needs to close above the $14.70 level. Currently, the price is struggling to break through the top of a resistance zone, which could potentially act as a barrier. Reclaiming the top of this zone is crucial for LINK’s upward momentum.
Ocean Protocol (OCEAN) Also Faces Resistance
Rekt Capital is also keeping an eye on Ocean Protocol (OCEAN), a decentralized data service. Similar to LINK, OCEAN might encounter macro resistance. Rekt Capital states that if OCEAN can achieve a monthly close above $0.47, it indicates further potential for bullish movement. However, any dips into the lower region would be considered a retest of the range low and part of consolidation within the green-red range.
Polkadot (DOT) on the Verge of Uptrend Confirmation
Regarding Polkadot (DOT), an interoperability chain, Rekt Capital believes that it is close to confirming a new longer-term uptrend. DOT is gradually breaking above its downward resistance above $5, signaling its potential entry into an uptrend.
Hot Take: Crypto Trader Highlights Potential Corrections and Uptrends
A well-known crypto trader warns of possible corrections for Chainlink (LINK) and Ocean Protocol (OCEAN). He emphasizes that LINK needs to surpass a specific resistance level to continue its upward movement. Meanwhile, OCEAN must achieve a monthly close above another resistance level for bullish momentum. On a positive note, Polkadot (DOT) is on the brink of confirming a new longer-term uptrend. These insights provide valuable information for crypto enthusiasts and investors who are closely monitoring these altcoins.
By
By
By
By