Chainlink’s Parabolic Trendline is Intact, But Analysts Fear a Breakdown
Chainlink has been struggling to gain momentum over the past couple of days, with the ongoing bout of capitulation within the altcoin market, creating far-reaching shockwaves that have impacted LINK. The crypto is now struggling to hold above its $11.00 support level, and some analysts believe that it could be at risk of seeing further […]
Related News
Bitcoin price has been in a strong uptrend since Black Thursday that turned fully parabolic in Q4, resulting in a new all-time high. But according to an analyst, the first-ever cryptocurrency is close to a breakdown of a parabolic curve that’s been supporting the upwards momentum for months. Is this the end of the uptrend? […]
SOL price can preserve the bullish bias, however, as its two multi-month support levels converge for the first time. Solana (SOL) dropped on May 26, continuing its decline from the previous day amid a broader retreat across the crypto market.SOL price pennant breakdown underwaySOL price fell by over 13% to around $41.60, its lowest level in almost two weeks. Notably, the SOL/USD pair also broke out of what appears to be like a "bear pennant," a classic technical pattern whose occurrences typically precede additional downside moves in a market.In detail, bear pennants appear when the price....
Bitcoin and the entire cryptocurrency market have been caught within a parabolic advance as of late, with BTC leading the charge as altcoins follow its lead Where the cryptocurrency trends next will undoubtedly depend on whether or not bulls can maintain control of its price action as it approaches $30,000 This rally is nothing short of parabolic, with Bitcoin tapping a half a trillion-dollar market cap yesterday evening One veteran trader is now pointing to […]
Analysts fear that Bitcoin is primed to drop after the $14,000 break on Saturday. The recent price action has been spotty due to a lack of follow-through at $14,000. An analyst also added that with uncertainty in the stock market and with the U.S. Dollar Index on support, BTC has a good chance at moving lower as opposed to higher. Bitcoin Primed to Drop, Analysts Fear Analysts fear that Bitcoin is primed to retrace as […]
Network outages and decreasing smart contract reserves add further downside pressure to SOL price. Solana (SOL) is nearing a decisive breakdown moment as it inches towards the apex of its prevailing "descending triangle" pattern.SOL's 40% price decline setupNotably, SOL's price has been consolidating inside a range defined by a falling trendline resistance and horizontal trendline support, which appears like a descending triangle—a trend continuation pattern. Therefore, since SOL has been trending lower, down about 85% from its November 2021 peak of $267, its likelihood of breaking below....