Chainlink (LINK) Price Analysis
Chainlink’s price has recently bounced back from the ascending support level, indicating increased buying pressure from the bulls. Despite a period of consolidation, the price has shown signs of potential upward movement. However, there is speculation about whether the bears will take control of the rally in the near future.
The weekly chart for LINK indicates a struggle between the bulls and bears for control over the rally. While the Gaussian channel has turned bearish, the 50/200 day MA is attempting a bullish crossover. The RSI remains high, and the OBV levels are showing a slight increase, suggesting a bullish sentiment among traders. The upcoming weekly candle is anticipated to be strongly bullish, potentially leading to a 30% gain and reaching a yearly high close to $25.
Arbitrum (ARB) Price Analysis
Arbitrum initially faced bearish pressure after reaching new highs but has since rebounded from a bottom, signaling a healthy upward trend towards the upper target of around $1.22.
Currently, the ARB price is testing the trend reversal zone below $1, with potential for a pullback. The decrease in buying volume indicates a possible bearish crossover in the MACD, supporting a bearish outlook. The price may retreat to $0.92 before rebounding above $1 and targeting the upper resistance zone near $1.22 by the end of 2024.
Polygon (MATIC) Price Analysis
Polygon’s price has been following a healthy upward trend with significant buying volume. It is approaching a crucial range that could lead to further gains towards key resistance levels.
Following a downtrend, MATIC’s price has started to rise towards the crucial resistance level. The Gaussian channel has turned bullish after a long bearish period, indicating strong support from the 200-day MA. This suggests a potential rise in price towards the trend reversal level around $0.8 by the end of 2024.