- LINK’s price holds strong as price eyes a rally to $12 after breaking out of its long-range accumulation zone.
- REEF’s price continues to trend above key support as price broke out of its downtrend with eyes set for $0.01.
- VET’s price remains strong, holding key support on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA).
Previous weeks have seen the price trends of many altcoins rise. It is interesting to see these top 3 altcoins being in the limelight, given how the crypto market performed after seeing its prices decline. The current market looks choked by the issue between Binance (BTC), and FTX (FTX), creating uncertainty for investors and traders. Data from Binance
3 Top Altcoins – Chainlink (LINK) Price Analysis On The Daily Chart
Altcoins experienced over 2000% growth in the week prior to breaking out from their range bound movements. Many believe that more hope is coming back into the crypto space.
The new week hasn’t kicked in like the last as most altcoins have begun to look shaky, dropping off from their weekly highs, including the price of Ethereum (ETH) and Bitcoin (BTC) suffering a minor price retracement back to a region of $1,540 and $19,600 respectively. LINK still has strength despite its successful breakout from the downtrend. With the current outlook of LINK, the price of LINK could rally to a region of $12 as things have continued to look strong for LINK’s price.
After a week close of $8 above the weekly average, LINK’s price has been looking more normal. The reason is that LINK aims to generate more bullish indicators than the ones which have received so much attention over the last few days.
Weekly resistance for the price of LINK – $9.2.
Weekly support for the price of LINK – $8.
Reef Protocol Price Analysis On the Daily (1D), Chart
REEF remains stable in daily trading as it maintains above its support level at $0.0055. It rallied from the daily downtrend, breaking through with volume.
REEF’s price needs to hold above its $0.005 value, which corresponds to the 50 EMA holding the price of REEF from sell-off, considering how uncertain the market has become of late.
REEF’s price trades at $0.0055, after being rejected by a $0.006 daily high. The attempt to break this level caused the price to drop below $0.006.
Daily resistance for the REEF price – $0.0065.
Daily support for the REEF price – $0.0051.
Three Top Altcoins The Daily (1D), Vechain Price Analysis (VET) Chart
VET prices remain strong over the daily period. They have held above their critical support of $0.025, after rising from a daily low at $0.02. However, there was resistance in breaking up to $0.03.
VET must be priced above $0.025 in order to increase the chances that it will trend higher, to $0.03.
Featured Image from zipmex. Charts by Tradingview