Ethereum, Polkadot, Chainlink Price Movement Analysis for 5th September, 2021

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Ethereum struggled to touch the $4000 mark and was consolidating with an increase of 0.9%. Some altcoins, however, started to decline owing to longer periods of trading sideways. For instance, DOT moved nearer to the price floor of $$28.94.

Chainlink, too flashed range-restricted price action and was trading close to an immediate support level of $30.37 with chances of falling near its one-week low price level at $24.30.

Ethereum (ETH)

Ethereum, Polkadot and Chainlink Price Analysis: 05 September

ETH/USD, TradingViewEthereum’s price action has been consolidating with minor gains of 0.9% over the last 24 hours. It was priced at $3933.29. It toppled over its price ceiling of $3855.11, and a break from the consolidation could push Ethereum to revisit the multi-month high of $4033.47.

Technical indicators, however, pointed that bearish price movement hadn’t fizzled out completely yet. Relative Strength Index was positioned above the 60-mark as buying strength remained bullish. MACD flashed red bars on its histogram.

Awesome Oscillator flashed red signal bars indicating negative price action. If the bearish perspective holds true, Ethereum would dip below $3855.11 and trade near $3387.08. Failing to remain above the $3387.08 price level would push ETH to its one week low of $2946.43.

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In other news, Twitter could possibly allow Bitcoin and Ethereum to enable receiving tips through Tip Jar feature.

Polkadot (DOT)

Ethereum, Polkadot and Chainlink Price Analysis: 05 September

DOT/USD, TradingView

DOT moved in a narrow range and fell by 0.8 percent. It was currently trading at $32.70. The altcoin was trading a few cents lower than its weekly high of $33.37. If the price of DOT maintains stable in the future trading sessions, the altcoin might fall below $28.94.

If DOT fails to hold at $28.94, it might fall to a four-week low of $25.22.

The technical indicators for the coin were bearish. MACD flashed red bars on its histogram after a bearish crossover.

Awesome Oscillator flashed red signal bars. Capital inflows dipped as the Chaikin Money Flow parked below the mid-line. If DOT reversed its price action on the upside, the overhead resistance was at $33.37, toppling it, DOT could aim for $34.41.

Chainlink (LINK)

Ethereum, Polkadot and Chainlink Price Analysis: 05 September

LINK/USD, TradingView

Over the previous 24 hours, LINK decreased by 0.2 percent while consolidating. The asset was valued at $30.54, and if the slump continues, LINK might fall to $30.37 and subsequently to $27.77. If LINK cannot maintain its prices above $27.77, it may trade near its weekly low of $24.30.

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Key signs indicated a downward price movement. MACD’s histogram showed red bars. Awesome Oscillator showed red signal bars as well.

Bollinger Bands remained tight, indicating that price volatility will be minimal in the future trading sessions.

On the other hand, LINK could face resistance at its three-month high of $31.22 and a retest of the $32.22 price level.

With regards to recent developments, Bored Ape Yacht Club initiated an adoption with Chainlink’s Verifiable Random Function (VRF) to provide airdrops on the platform. This integration could lead to the increased interest of investors.

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