Price Analysis

Here’s What Next For Bitcoin, Ethereum and Chainlink Price!

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As the larger crypto markets continue to surge, a well-known crypto trader and analyst is laying out his predictions for Bitcoin, Ethereum, and Chainlink.

Bitcoin Price

Pentoshi, a pseudonymous crypto analyst, tells his 202,700 Twitter followers that he’s keeping a careful eye on Bitcoin (BTC), which is poised to break through previous resistance at $40,000 and move into support.

If Bitcoin price can rise over these range highs in the previous several days, he believes we need to reach to $43,000 before coming back down to confirm as support. People who were short at previous range highs are now short at range lows. What difference does it make? Because if price breaks out over the range, those are the people who will backfill with intent/limit orders, flipping the market to support.

bitcoin price

Although Pentoshi believes that a positive continuation is possible, the trader believes that Bitcoin bulls face a difficult challenge ahead of them as BTC approaches a key resistance point.

BTC. Okay this makes more sense now, flirting with the downtrend line from all-time highs.

Ethereum Price

When it comes to Ethereum (ETH), the crypto expert predicts that the main smart contract platform will jump to $2,881 if it can stay above support at $2,325. 

Ethereum Price

ETH. This range was back tested as support this morning, so we can look to play it for now. The market is breaking through resistances; the only thing to look out for is a return to previous ranges.

Chainlink Price

Pentoshi anticipates Chainlink (LINK), a decentralised oracle network, will convert past resistance at $21 into support and then ascend to as high as $32.

Chainlink Price

LINK is the more recent one since I haven’t played alts in 2 months, but you’re out of your mind if I’ll not have some exposure leading into their SmartCon in the next 6-8 days at the very least.”

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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.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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