NewsPrice Analysis

Polkadot (DOT) Price and Chainlink (LINK) Price Surged, Will They Smash the ATH?

Author: Sohrab Khawas

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    Story Highlights
    • Polkadot price rallied after a drastic plunge for two consecutive days that drained almost $5 front the DOT price

    • Chainlink in the past couple of days declined massively shedding pretty huge profits, however, bounced back since the early hours of trading

    The entire crypto space experienced a bloodbath in the past couple of days, extracting a notable amount of gains in the recent bull run. The global market cap which had hit the milestone of $1 trillion, declined below $900 billion amid the crypto space plunge.

    The majority of the Crypto-assets like Bitcoin, Ethereum, XRP price, etc, had a steep freefall. Nevertheless, the crypto space appears to have sustained the correction phase and is attempting very hard to regain the lost positions.

    As all the assets including Bitcoin price have jumped with a little margin below 1% and Ethereum price successfully retained the levels above $1300. Other altcoins like DOT price jumped remarkably by gaining 6.14% and Chainlink price is on the verge to smash new highs very soon.

    Polkadot(DOT) Price Hiked More Than 6%

    DOT price

    Polkadot price has rebounded like a giant and is heading strongly towards the upper resistance levels. The price is poised to break the current ATH very soon and in the due course, the first target to break would be at $19.

    Nevertheless, the trading volume appears to be moderate yet can spike any moment as the RSI is slowly approaching the overbought levels above 70. The DOT price at the time of writing is $16.98 with a jump of 6.64% in the last 24 hours. 

    Technical Specifications

    • The resistance levels as mentioned are formed at $19.26, once attained, the next target would be forming new ATH
    • The support levels are formed at $15.07
    • The indicators are pointing towards a ‘buy’ 
    LINK price

    Chainlink price had a magnificent rally by forming multiple ATH in a very stipulated time frame. Yet a steep downfall was awaiting with the asset price which dipped almost 22% but successfully sustained above $20. The current day of trade was a favourable one which initiated a surge overcoming a plunge.

    At present, the LINK price is just 5% less than the current ATH and if the current momentum is maintained, a new ATH is on the way in no time. At the time of writing, the Chainlink price is $24.13 with a massive jump of 11.78% in the last 24 hours.

    Technical Specifications

    • The resistance levels are formed at the ATH which is at $25.65. Once the higher resistance level is broken, the LINK price may fly even higher.
    • The support levels are formed at $22.72 and if failed to sustain the price may revisit the next support levels at $21.46
    • The indicators point out towards a ‘strong buy’
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