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September 24, 2020
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Guide & Analysis

ChainLink analysis: LINK price values ​​5%

ChainLink analysis.

There is only one green light among the first 15 cryptocurrencies by market value, that of Chainlink (LINK) which, after four days of falling, goes up again, reacting with + 5% compared to yesterday’s levels.

Chainlink’s price, after breaking $ 20 for the first time last Monday, suffered a 30% loss due to huge profit taking. This drop seems to be over for now, but we will have to wait for confirmation in the next few days.

With today’s climb, Chainlink is back in fifth place with more than $ 5.7 billion. Bitcoin Cash (BCH) is again at a distance of more than $ 300 million, losing 1.3% today.

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For Bitcoin and Ethereum, as well as for most major altcoins, it is the third consecutive bearish day. A sequence that has not been seen since the end of June.

The total capitalization of the crypto market remains above $ 365 billion, with volumes falling in the past 24 hours (-20% since Tuesday). However, Bitcoin trade remains strong, for the third consecutive day above $ 3 billion.

Bitcoin’s dominance increased slightly to 59.5%, after reaching its low since June 2019. Unchanged for Ethereum (12.5%) and XRP (3.6%), stable at last week’s levels.

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The price tries to consolidate above $ 11,500. The operational indications remain unchanged from the levels indicated yesterday.

Upwards it is necessary to break the $ 12,500, while downwards it is important to keep the $ 10,500 or, in the event of a break, not to extend the drop below $ 10,000.

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At these times, Ether prices are back to test the crucial $ 400 support, former resistance level. The rigidity of this limit will be a clear sign of strength.

On the contrary, sections below $ 390 will have to stop at the $ 355 area in order not to compromise the upward trend built last month, which saw Ethereum prices double in just four weeks.

Source: cryptonomist

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