NewsPrice Analysis

LINK, BNB, SNX Tokens Surge With Decent Gains – HODL or SELL?


    Many cryptos have been in a strong position in the last 24 hours

    Some of the cryptos have surged with a massive margin, aiming to touch their previous All-time high very soon

With the Bitcoin bull run, many markets also opened up for gains. Major coins like Bitcoin, Ethereum also surged with 0.8% and 2.33%. The bitcoin price touched $11,481.96 and Ethereum price rose $384.01 respectively at the press time. This jump initiated the other cryptos also to swell in terms of price and volume.

Let us look into the top cryptos with gained a good margin in the past 24 hours.

Chainlink ( LINK Price up by 4.96 percent)

chainlink chart

The most preferred and dominant token in the DeFi space, Chainlink has is showing some signs of a bull run. In the past 24 hours, it has managed to jump nearly 5 percent with a huge influx in the market capitalization. Currently, LINK  price is $11.40 with a 24 hour gain of 5.65 percent.

The RSI indicators do suggest that the digital asset can be held for a while before a sell-off. However, the indicator doesn’t really seem to move upwards to touch the over-bought level. Therefore, the LINK holders can HODL LINK, but always keep an eye on the indicators to watch out for the next probable direction of the asset.

Binance Coin(BNB) up by 8.45%

BNB chart

Binance native coin BNB has performed well in the past couple of days. The digital asset has almost gained $2 in the past 2 days. BNB is priced at $31.30 with a massive gain of 8.45 percent in the last 24 hours. The 24-hour volume has also surged from nearly $400 million to almost $784 million in these 2 days.

The technical indicator suggests the BNB is fast approaching the overbought level. The holders might get a good opportunity to record good profits with BNB token. However, some analyst has also predicted that the current break-out is not just temporary but a long and strong one.

BAND Protocol(BAND) Gains 7.11%

BAND chart

BAND, the cross-chain data oracle network backed by Sequoia Capital and Binance has also rallied in the past couple of days. The 24-hour trading volume has also increased from just $83 million to nearly $144 million in the past 4 days. BAND is priced at $7.25 with a 24-hour gain of 7.11 percent at press time.

Considering the technical indicators, the overbought levels seems to be out of reach and hence, the token is expected to surge at higher levels from now. Therefore, the holder can hold them for some more time before deciding for a sell-off.

Apart from these tokens, the other assets that also needs to be kept an eye are, Cardano(ADA) which rose to $0.113892 with a gain of 7.09percent and Synthetix Network (SNX) token which attained $4.60 by gaining 10.69 percent.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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