NewsPrice Analysis

Bulls Sweep Through the Crypto Space – LINK, DOT, and MKR Price Surge


    With the surge in Bitcoin price, most of the cryptos follow the bullish trend

    The top gainers recorded pretty good gains

The most awaited breakout in the crypto space was very fascinating to witness. The major erupt in the Bitcoin price which crossed $13000 painted the crypto market in green. With the rise in the total market capitalization by a massive 3.20 percent in the last 24-hours, the price of cryptos like LINK, DOT, and MKR Surge.

LINK chart

As Coinpedia reported in the last working day that Chainlink has the potential to rebound, the phase seems to have begun now. LINK price has retraced notably in the last 24 hours with nearly 4 percent gains.

Chainlink price is currently $10.92 with a gain of 4.72 percent at the press time. The technical indicators suggest a strong buying pressure awaiting ahead. However, the point to be noted here is, the asset has not been overbought or oversold since it attained its all-time high in the mid of August 2020.

  • The resistance levels are formed at $12.196
  • The support levels are formed at $9.85
  • The market sentiments forecast a strong buy at present

Polkadot (DOT) Price

DOT chart

Polkadot also gathers a decent amount of gains with more than 3 percent jump in the DOT price. Currently, Polkadot price is $4.19 with a gain of 3.94 percent in the last working day at the press time. However, the DOT community seems to be strong as the market trend points out a positive trend for the asset.

  • The resistance levels are currently formed at $4.42
  • The support levels are currently formed at $3.94
  • The technical indicator points to a ‘buy’ signal at present.

However, the strong resistance levels are formed at $4.52, which needs to be tested to initiate a Chainlink bull rally to reach the next levels at $5.61. 

Maker(MKR) Price

MKR chart

The next in our gainer’s list is Maker(MKR), the native token of MakerDAO protocol. As per Coinpedia’s earlier report, MKR price is showcasing a similar trend. The price visited levels above $600 but unfortunately dipped below.

The MKR is priced at $575.68 with a 3.06 percent increase in the price. There is also an intensified buying happening in the past couple of days, which might take the price above $600 and hopefully maintain.

  • The resistance levels are formed at $595
  • The support levels are formed at $542
  • The technical indicators point out at a ‘strong buy’ signal

Other than these cryptos a special mention can be done of Litecoin(LTC) and Ampleforth(AMPL) which jumped with 13.35 and 13.41 percent, however, the leader remains Reserve Rights(RSR) token with a massive 41.1 percent increase.

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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.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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