Chainlink

<p>It&#39;s been a rollercoaster ride for Bitcoin lately, zigzagging between $43,000 and $44,000, and even shrugging off a slight dip triggered by a robust US employment report that dimmed hopes for interest rate cuts next year. Meanwhile, altcoins have been soaring, mirroring the &#34;altcoin rotation&#34; we saw in early November, where slowing Bitcoin momentum had traders cashing in some gains and venturing into smaller, more volatile cryptos. This kind of capital shuffle is pretty standard in the crypto world, usually following a Bitcoin surge, then moving onto larger cryptos, and eventually trickling down to meme coins and micro caps as traders hunt for the next big thing.</p><p>With Bitcoin&#39;s momentum cooling off, some experts, like Willy Woo, are keeping an eye on a potential dip to the $39,000-$41,000 range, hinted at by a gap in the CME Bitcoin futures market. On the flip side, there&#39;s a buzz about US regulators possibly green-lighting cash <a href="https://cryptodaily.co.uk/tag/bitcoin-etf" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> by big players like BlackRock, which could be a game-changer for investor interest. But it&#39;s a mixed bag of reasons driving people to crypto: from dodging government oversight to betting on or against inflation, it&#39;s a currency and a speculative asset all rolled into one.</p><p>As the crypto carousel continues, there&#39;s a new kid on the block catching eyes – <a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;LINKLTC" rel="noopener noreferrer nofollow">ScapesMania (MANIA)</a>. This presale project is turning heads with its promise of more predictable patterns, offering a fresh vibe in the often unpredictable crypto landscape.</p><h2 id="header-0">ScapesMania: A New Dawn In Crypto Gaming</h2><p>While some are facing an uncertain future, the trajectory of a presale project is far easier to predict. ScapesMania (MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. Through DAO governance, backers will be able to influence and benefit from a multi-billion-dollar industry. A wide range of features paired with the best technology, a professional team, and a long-term, highly ambitious vision can make ScapesMania the next big thing in crypto. Presale discounts and stage bonuses only add to the project&#39;s appeal.</p><h2 id="header-1">Presale is Live Now - Join Now for a Chance to Benefit with MANIA</h2><p>Backed by an award-winning developer crew, ScapesMania stands for transparency: every member’s social media profile is public. The project can achieve this not just by bringing big innovation to the game, but by putting its community front and center. Driving customer engagement and making sure that everyone benefits through great tokenomics and generous rewards is what makes ScapesMania the project with a bright future ahead.</p><p><a href="https://scapesmania.io/?utm_source&#61;cryptodaily&amp;utm_medium&#61;mmedia&amp;utm_campaign&#61;LINKLTC" rel="noopener noreferrer nofollow">Presale is Live, Learn More About Major Benefits</a></p><h2 id="header-2">Chainlink&#39;s Staking Success: Soaring LINK Prices And Robust Market Performance</h2><p>Chainlink, a leading blockchain data-oracle project, has recently made significant strides with its enhanced crypto-staking program, <a href="https://cryptodaily.co.uk/2023/10/chainlink-staking-v02-what-does-it-mean-for-link-investors" rel="noopener noreferrer nofollow">Chainlink Staking v0.2</a>. This upgrade has garnered an overwhelming response, amassing over $632 million worth of LINK tokens within just six hours of the early-access period, indicating a strong market confidence in Chainlink&#39;s future. The program&#39;s expansion to a pool size of 45 million LINK tokens, which is 8% of the current circulating supply, aims to increase accessibility and participation in Chainlink Staking. This development is a part of Chainlink Economics 2.0, designed to bolster network security through community and node operator staking.</p><p>The success of this program is reflected in the surge of LINK&#39;s price to a new yearly high of $17.30, a level not seen since April 2022. Chainlink&#39;s recent performance has been impressive, with a 12% increase in a week, and a remarkable 203% year to date. Its market capitalization stands at $9.402 billion, with a trading volume of $991.432 million in the last 24 hours.</p><h2 id="header-3">Chainlink (LINK) Technical Analysis</h2><p>In the realm of technical analysis for <a href="https://cryptodaily.co.uk/2023/12/chainlink-link-and-solana-sol-explosive-bull-runs-predicted-heres-why" rel="noopener noreferrer nofollow">Chainlink (LINK)</a>, the current indicators present a mixed outlook. The Relative Strength Index (RSI) at 54.42 suggests that LINK is neither overbought nor oversold, indicating a potential for either direction in the short term. The Stochastic %K at 71.36, leaning towards the higher end, hints at overbought conditions, which could lead to a pullback. However, the Commodity Channel Index (CCI) at 22.64 shows that LINK is not in an extreme overbought or oversold territory. The Average Directional Index (ADI) at 46.00 indicates a moderate trend strength, which could mean the current trend has some room to continue. The Moving Average Convergence Divergence (MACD) at 0.24, though positive, is not showing a strong bullish momentum.</p><p>Looking at the moving averages, LINK is currently trading above its 10-day Simple Moving Average (SMA) at $16.95 and its 200-day SMA at $15.71, suggesting a short-term bullish trend. The Exponential Moving Average (EMA) values also support this, with LINK above its 10-day EMA at $16.94 and 200-day EMA at $15.70. The Ichimoku Base Line at $16.57 provides additional support. However, the Hull Moving Average (HMA) at $17.13 indicates a potential resistance level in the near term.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/71f8fc17a9c84f309ca9d33066c0f906.png" /></p><h2 id="header-4">Chainlink (LINK) Price Forecast</h2><p>The overwhelming response to Chainlink&#39;s enhanced staking program has significantly bolstered investor confidence. This fundamental strength is mirrored in LINK&#39;s technical posture.</p><p>In a bullish scenario, considering Chainlink&#39;s successful staking program and its impact on the market, if LINK maintains its current trajectory above the immediate support level at $16.68, it could challenge the immediate resistance at $17.77. Surpassing this could lead to a test of the next resistance level at $20.28. The market&#39;s positive response to Chainlink&#39;s staking program, combined with its robust performance in recent months, including a 226.44% increase in six months and a 203.25% rise year to date, underpins this optimistic outlook. The support from the 10-day and 200-day Simple Moving Averages at $16.95 and $15.71, respectively, further strengthens the bullish case.</p><p>On the flip side, in a bearish scenario, if LINK fails to sustain its position above the immediate support level, possibly due to broader market volatility or a shift in investor sentiment, it could descend towards the next support level at $14.56. A breach below this level might intensify selling pressure, pushing LINK towards a more significant support at $12.93, aligning with the 50% retracement from the 4-week high/low. This downturn could be exacerbated if LINK falls below key moving averages, signaling a potential reversal of the current bullish trend. The balance between Chainlink&#39;s fundamental strengths and the broader market dynamics will be crucial in determining its price trajectory in the coming months.</p><h2 id="header-5">Litecoin&#39;s Resilient Market Performance Amidst Wallet Liquidations And Price Fluctuations</h2><p><a href="https://cryptodaily.co.uk/2023/12/monero-xmr-and-litecoin-ltc-battling-headwinds-whats-driving-their-resilience" rel="noopener noreferrer nofollow">Litecoin (LTC)</a> has recently experienced a mix of volatility and growth, reflecting the dynamic nature of the cryptocurrency market. Despite a recent downturn, where a significant number of wallets sold their LTC holdings, leading to a 1.1% drop in its price, Litecoin has shown resilience in the broader context.</p><p>Over the past week, LTC has seen an 8.45% increase. However, the liquidation of LTC from many wallets raises concerns about its long-term viability and investor confidence. Despite these challenges, Litecoin&#39;s market capitalization stands strong at $5.742 billion, with a significant trading volume of $572.881 million in the last 24 hours. This scenario presents a complex picture for Litecoin, combining short-term gains with underlying concerns about its future trajectory in the volatile crypto market.</p><h2 id="header-6">Litecoin (LTC) Price Analysis</h2><p>From a technical analysis perspective, Litecoin (LTC) presents a nuanced picture. The Relative Strength Index (RSI) at 53.32 indicates a neutral market sentiment, neither overbought nor oversold. The Stochastic %K at 29.24, however, suggests that LTC might be entering an oversold territory, potentially signaling a buying opportunity. The Commodity Channel Index (CCI) at -50.47 reinforces this, indicating a potential upward price reversal in the near term. The Average Directional Index (ADI) at 41.96, while not extremely strong, still suggests a certain level of trend strength. The Moving Average Convergence Divergence (MACD) at 0.69, being positive, hints at bullish momentum. However, the Bull Bear Power at -0.87 and the Ultimate Oscillator at 45.57 present a more cautious outlook, indicating potential volatility ahead.</p><p>Looking at moving averages, LTC is trading around its 10-day Simple Moving Average (SMA) at $78.33 and its 200-day SMA at $73.29. This positioning suggests a short-term bullish trend but also indicates potential resistance near these levels. The Exponential Moving Averages (EMAs) show a similar trend, with LTC trading close to its 10-day EMA at $78.09 and above its 200-day EMA at $73.63. The Ichimoku Base Line at $76.89 and the Hull Moving Average (HMA) at $77.66 could serve as key indicators for short-term price movements.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/0ab072c0a7e44e4d99c90a1bea39c2e1.png" /></p><h2 id="header-7">Litecoin (LTC) Price Forecast</h2><p>In a bullish scenario, integrating the recent fundamental developments, including the resilience shown amidst wallet liquidations and fluctuating trading volumes, LTC could leverage its current stability to break past the immediate resistance level at $80.60. A sustained move above this level could see LTC testing the next resistance at $86.31, which aligns with the 50% retracement from its 52-week high/low. This upward movement could be supported by the recent positive trend in its price, as indicated by the 8.45% increase over the past week and a 6.22% rise over the past month.</p><p>Conversely, in a bearish scenario, if LTC fails to maintain its momentum and falls below the immediate support level at $74.67, it could face a decline towards the next support level at $72.50. A break below this level might lead to further downward pressure, potentially testing the 1-month low at $65.45. This bearish outlook could be fueled by concerns over the long-term viability and liquidity of Litecoin, as evidenced by the significant wallet liquidations and a slight year-to-date increase of only 10.85%. Investors should closely monitor the interplay between these technical indicators and fundamental factors to gauge the future direction of LTC price.</p><h2 id="header-8">Final Words</h2><p>Wrapping up, Bitcoin&#39;s been doing its usual dance, bouncing around and reacting to every bit of economic news. Meanwhile, Chainlink&#39;s making waves with its staking program, really getting people excited and pushing up its price. On the other hand, Litecoin has been a bit of a rollercoaster, with some investors cashing out and others jumping in, keeping things interesting. It&#39;s a mixed bag, but that&#39;s crypto for you – always something new around the corner, keeping us on our toes. Whether you&#39;re watching the charts or just enjoying the ride, it&#39;s never dull in the land of digital currencies!</p><p>Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.</p><p>RELATED TOPICS:  <a href="https://cryptodaily.co.uk/tag/altcoins" rel="noopener noreferrer nofollow">#ALTCOINS</a> <a href="https://cryptodaily.co.uk/tag/breaking-news" rel="noopener noreferrer nofollow">#BREAKING NEWS</a> <a href="https://cryptodaily.co.uk/tag/spotlight" rel="noopener noreferrer nofollow">#SPOTLIGHT</a></p>

Chainlink (LINK) Hits Yearly High With Staking, But Is Litecoin (LTC) The Dark Horse To Watch?

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