Chainlink, Cosmos, Enjin Price Movement Analysis for 24th February 2021

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In the short term, Chainlink was expected to climb above its overhead resistance, with its indicators blinking green signals. Down the crypto-ladder, the bullish momentum for Cosmos and Enjin Coin was expected to fizzle out, with those altcoins likely to enter a time of consolidation on the charts.

Chainlink [LINK]

In the last 24 hours, Chainlink has added gains of over 12 per cent, with recovery well underway across the wider market. Although some bearishness was observed on the 4-hour map, the Relation indicators were positive at the time of writing.

The Stochastic RSI grew steadily after Connect bounced back from the $23.3 support stage. The MACD closed on a bullish crossover, while the red bars on its histogram dropped in length. The next upside will be $31.75 for a hike beyond the press time resistance mark.

Cosmos [ATOM]

Source: ATOM/USD, TradingView

At the time of the press, Cosmos was trading just above the $20 mark, after the price had risen by 22 per cent compared to yesterday. However, some saturation was noted in the market as the crypto asset sought to flip the $21.2-resistance.

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The Stochastic RSI was trading in the over-purchased sector, with a bearish pullback still on the cards. According to the ADX indicator, the market’s recent volatility lacked the power to hold prices at higher levels. This also pointed at a time of stabilization, as the price appeared to stabilize on the charts. Going forward, ATOM is likely to trade within the $21.1-$18.7 range.

Enjin [ENJ]

Source: ENJ/USD, TradingView

At the time of the press, Cosmos was trading just above the $20 mark, after the price had risen by 22 per cent compared to yesterday. However, some saturation was noted in the market as the crypto asset sought to flip the $21.2-resistance.

The Stochastic RSI was trading in the over-purchased sector, with a bearish pullback still on the cards. According to the ADX indicator, the market’s recent volatility lacked the power to hold prices at higher levels. This also pointed at a time of stabilization, as the price appeared to stabilize on the charts. Going forward, ATOM is likely to trade within the $21.1-$18.7 range.

 

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