Dogecoin

Chainlink

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/altcoin/crypto-market-analysis-chainlink-link-and-dogecoin-doge-lose-bullish-dominance-at-higher-levels-heres-whats-next/">Crypto Market Analysis: Chainlink (LINK) And Dogecoin (DOGE) Lose Bullish Dominance At Higher Levels! Here’s What’s Next</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Two of today’s notable market performers, Chainlink (LINK) and Dogecoin (DOGE) have significantly boosted investors’ portfolios due to a dramatic rise to several resistance levels. This surge in LINK and DOGE prices was largely driven by positive developments in the Chainlink network and a tweet from Dogecoin enthusiast Elon Musk, respectively. However, the excitement faded as both coins quickly reversed their upward trend.&nbsp;</p> 
<h2 class="wp-block-heading" id="will-bulls-make-a-comeback">Will Bulls Make A Comeback?</h2> 
<p>Chainlink tokens experienced a <a href="https://coinpedia.org/price-analysis/chainlink-price-prediction-link-price-on-the-verge-of-280-rally/" rel="noopener noreferrer nofollow">significant increase</a> as whale investors traded their ether for LINK, triggered by the company’s recent launch of the Cross-Chain Interoperability Protocol (CCIP), according to data.&nbsp;</p> 
<p>On the other hand, the renowned CEO of Twitter and Tesla <a href="https://twitter.com/elonmusk/status/1681691639922806784?s=20" rel="noopener noreferrer nofollow">posted</a> a meme featuring the popular cartoon character Scooby-Doo, with the caption “Doges ftw [for the win]”. This led to a <a href="https://coinpedia.org/altcoin/dogecoin-price-rally-doge-price-mirrors-xrps-recent-rally-150-spike-seems-imminent/" rel="noopener noreferrer nofollow">surge in the price</a> of DOGE. However, the absence of buyers at these high levels resulted in a sharp drop in the value of both coins.</p> 
<h3 class="wp-block-heading" id="chainlink-link-price-analysis">Chainlink (LINK) Price Analysis</h3> 
<p>It’s pretty common to see a coin skyrocket only to come crashing down and then stabilize. It seems like LINK might be heading into one of these phases. After meeting a high at $8.4, LINK’s price dropped heavily and is currently making another push.</p> 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh5.googleusercontent.com/HQEHTV8iNnpWH7DgjSKplIJ2mDzzscfM4w8FNZYs1LfgY6CiRHeMvYhSCwj9kejfeua-mPLLJUcFhm14jimZofz9CYtc2uVTxyNrVgBLAJqGclpJua-YazCpLrV8we7SIyPPUnGk1R3iOr9Vbd9ywQc" alt=""> 
</figure> 
<p>The bulls are going to give it their all to push the price past $8.3 this time and take a shot to break above $8.7. But it won’t be easy, as they’re likely to face some serious pushback from the bears. If the price takes a U-turn from $8.3, we could see the LINK price take a nosedive to $7.2.</p> 
<p>Now, this price point might just be attractive enough to get the bulls buying in force again. This could result in the price bouncing between $7.2 and $7.7 for a few days. But if the bulls manage to push the price beyond $8.7, we could be looking at a rally all the way up to $9.5.</p> 
<h3 class="wp-block-heading" id="h-dogecoin-doge-price-analysis">Dogecoin (DOGE) Price Analysis</h3> 
<p>Buyers managed to push the Dogecoin price past the key resistance level of $0.071. However, the lengthy wick on the candlestick indicates a strong sell-off when the price climbed to $0.074.&nbsp;</p> 
<figure class="wp-block-image"> 
 <img decoding="async" src="https://lh4.googleusercontent.com/Pu-4_WxD9oTu70eVe9vwvZPlIOFDMUIAKpDPqt_7n699y3TERbpQGFjM7ds6H_3DeD4OQmbIOOcAjm0KsrEoz5eSgZYMsPcrhxLjJML1ZsUOwtOxEW16-SGzghy6mX8g48VKo7uLix6lQUYnDGbmIyg" alt=""> 
</figure> 
<p>While the bulls have succeeded in holding the DOGE price above the 50-day EMA at $0.69, they’re finding it tough to break through the immediate resistance above. If they can’t keep the price above $0.07, the chances of a dip toward $0.067 become more likely.</p> 
<p>This could result in the price moving sideways between $0.06 and $0.07 for a bit longer. For the bulls to kick off a new upward trend, they’ll need to keep the price above $0.071. If they manage that, we could see the price rise to $0.074 and potentially even to $0.081.</p>

Crypto Market Analysis: Chainlink (LINK) And Dogecoin (DOGE) Lose Bullish Dominance At Higher Levels! Here’s What’s Next

Table of Contents

CoinPedia News

Other articles published on Jul 20, 2023

Tesla Down 3.3% Premarket as Operating Margin Falls

Elected Officials Are Fooling the Public: Claims Crypto Lawyer

Medifakt: Revolutionizing Patient Care and Healthcare Industry with Blockchain Technology

U.N. Security Council Proposes A Global Body to Regulate A.I.

Home Depot Inc. (NYSE: HD): Will HD Stock Price Slip Now?

Stellar (XLM) Leads the Altcoin Overnight Bullish Rally

Join our free newsletter for daily crypto updates!