Chainlink, Cosmos, Dash Price Movement Analysis for 11th June, 2021

Spread the love

 126 Interactions,  4 today

Chainlink is expecting a 20% increase if it breaks above its up-channel and 50-SMA. The downturn in ATOM might send the cryptocurrency back to its demand zone of $8.6-9. Finally, Dash was getting ready to take another swing at the $180-resistance level.

Chainlink [LINK]

Source: LINK/USD, TradingView

Because LINK traded in an up-channel, a breakout from the pattern was predicted, and this might be triggered at LINK’s next point of contact ($21.5). A 20% surge towards $32.5 was expected for LINK, and this would be verified if the price rose over the 50-SMA (yellow).

Bearishness was on the wane, according to the Squeeze Momentum Indicator, and downward pressure could be observed at LINK’s next defensive line. The Stochastic RSI has yet to show a positive crossing, although it did trade in oversold territory- a region of reversal.

Because LINK traded in an up-channel, a breakout from the pattern was predicted, and this might be triggered at LINK’s next point of contact ($21.5). A 20% surge towards $32.5 was expected for LINK, and this would be verified if the price rose over the 50-SMA (yellow).

RECOMMENDED READ:  VeChain Price Movement Analysis for 18th April, 2021

Bearishness was on the wane, according to the Squeeze Momentum Indicator, and downward pressure could be observed at LINK’s next defensive line. The Stochastic RSI has yet to show a positive crossing, although it did trade in oversold territory- a region of reversal.

Cosmos [ATOM]

Source: ATOM/USD, TradingView

Voting was now taking place on Cosmos Hub’s proposal to boost the network’s inflation rate – an update that would help safeguard the network from unexpected shocks. As the vote deadline of June 16th approaches, ATOM’s price has been limited on its 4-hour chart.

ATOM attempted a strong return in recent days, but an upwards was thwarted at the 23.6 percent Fibonacci level ($14.2). Bulls faced an uphill battle to reclaim control in a decline as an upper sloping trendline punched through its chart. According to the Awesome Oscillator, bearish momentum was increasing, while the RSI’s lower highs supported ATOM’s price action.

A demand zone lay between $8.6-9 and ATOM could revisit this area over the coming weeks.

RECOMMENDED READ:  How Binance Coin overtook Tether to third-largest crypto market cap

Dash [DASH]

Source: DASH/USD, TradingView

Dash’s losses were minor, with the cryptocurrency trading at $172, down 1% in the past 24 hours. Indeed, its signs hinted that some upward was possible, and bears may be tested around the $180-resistance and 50-SMA (yellow). The Squeeze Momentum Indicator showed green bars when purchasing momentum increased. The RSI was pointing north and would very certainly take another go at a rise over 50. As a result of such a development, the RSI may trade in the positive zone.

In the event of a good conclusion, DASH might rise over its 50-SMA and aim for its next resistance level at $235.5 — an area that corresponded with the 200-SMA (green).

Leave a Reply

Contact Us