Chainlink, MATIC, Theta  Price Movement Analysis for 10th June, 2021

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Prices for alts like as Chainlink, MATIC, and Theta were less affected by the June 7 market drop, which reduced the entire crypto market value and harmed several prominent alts.

While Chainlink and MATIC had sideways price movement on the four-hour chart with limited price ranges, Theta showed slight increases beginning in early June.

Chainlink [LINK]

Source: LINK/USD – TradingView

Chainlink was trading at $24.2 at the time of publication, near to the support level of $22.5. Despite the asset’s declining appeal, its price has remained stable.

On a four-hour chart, LINK saw a bullish crossing on June 9, as MACD lines from below inched closer to the signal line. The asset was still in the negative zone, although there were hints of progress. This coincided to Parabolic SAR, as its dotted lines emerged under the candlesticks, indicating a bullish momentum.

Despite being down 53.02 percent from its all-time high, the asset has seen a price rise of roughly 15% in the previous two days. Furthermore, the Squeeze Momentum Indicator indicated a decrease in bearish pressure. With the recent ‘Squeeze release’ represented by white dots and the arrival of the dark red bars, the momentum might shift to the positive.

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Polygon [MATIC]

Source: MATIC/USD – TradingView

MATIC has dropped over 30% since the beginning of June; the asset is currently ranked 17th on CoinMarketCap, with a 1.15 percent 24-hour price increase. While the asset was down 44.66 percent from its all-time high, its ROI against USD in the previous 30 days was +32.99 percent.

The altcoin’s Bollinger Bands showed a steady parallel movement, indicating that market activity was modest. At press time, candlesticks for MATIC challenged the $1.46 level many times on a four-hour chart; if the price falls lower, the next critical support was at $0.814.

The asset’s Relative Strength Index showed that, although being in the neutral zone, swinging between 35 and 45, selling pressure was pressing in, as seen by the indicator’s downward trend. Furthermore, Awesome Oscillator indicated that bearish momentum was building for the asset, which might cause the price to fall.

 

Theta[THETA]

Source: THETA/USD – TradingView

Theta’s mainnet 3.0 debut is set for June 30, and the altcoin’s price has risen by about 40% from the beginning of June. While the asset’s price has been moving near to the resistance level of $9.95, it has been unable to break through. At the time of writing, Theta was trading at $9.0 and ranked 18th on CoinMarketCap.

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The Chaikin Money Flow indicator remained above the zero-line, indicating that inflows outweighed outflows. A minor increase in the indicator at the time of publication indicated that cash inflow pressure was growing. However, at the time of publication, the red candlesticks indicated a 7% price drop from June 9.

Furthermore, the MACD lines were close to each other and slightly over the signal line, which might shift the asset into a significantly negative momentum, causing the price to fall even more.

 

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