Within a few days, the traders are now worrying whether the bull phase in Bitcoin is over and will the crypto markets again slump into a bear phase.
Let's study the top five performers of the past seven days to find out whether the trend has turned down or if this is only a minor blip in a long bull market that still has legs to run.
The positive thing is that the bulls are holding ground and have not allowed the pair to slip towards the lows.
If the bulls fail to push the price above the overhead resistance zone, the pair might remain range-bound between $3.8 and $5.3506.
These partnerships and a few more announced during the week helped LINK recover from the sharp losses during the week.
We now expect the bulls to make another attempt to push the price above the overhead resistance at $4.8671.
Contrary to our assumption, if the bulls fail to push LINK to new highs, the pair might remain range-bound for a few days.
If the pair bounces off this support, we anticipate the bulls to make another attempt to carry the price above $3 as it will signal strong buying on dips.
After the price sustains above $3, the next level to watch on the upside is $4. However, if the bulls fail to defend the support at $2.05233281, the price can slip to $1.76557843 and below it $1.47882405, which are 50% and 61.8% Fibonacci retracement levels of the most recent rally.
If the bulls can push the price above the triangle, the pair is likely to pick up momentum.
Top 5 Cryptos This Week: LEO, HT, LINK, HEDG, Bitcoin
gepubliceerd op Mar 1, 2020
by Cointele | gepubliceerd op Coinage
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.