Chainlink, Litecoin, Tron Technical Analysis On 26th October 2020

The weekend has been quite eventful for Bitcoin and the rest of the cryptocurrency market. Over the past day, the global market cap climbed to $397 billion, at the time of writing. Additionally, Bitcoin’s dominance sprung back up and was currently found to be at 61.15%, this triggered a mild downturn in the prices of several altcoins

Chainlink [LINK]:

Over the past 24-hours, Chainlink [LINK] was down by 3.52% and was priced at $12.29. The token registered a market cap of $4.77 billion and a 24-hour trading volume of $1.29 billion, at the time of writing.

LINK was struggling close to a vital level of resistance at $12.25. The Klinger Oscillator appeared to be heading for a potential bearish crossover. However, MACD depicted a strong bullish phase for the coin as the signal line hovered below, the reading line. If the token manages to retain the current level, it could further target $13.81 as it found firm support at $8.63

Litecoin [LTC]:

Litecoin [LTC] sustained a minor decline of 1.13% over the past 24-hours which drove the price to $57.9 as it held a market cap of $3.80 billion and a 24-hour trading volume of $3.68 billion.

Despite the mild pullback, the technicals depicted an optimistic picture. The green bars of the Awesome Oscillator indicated a bullish momentum for the coin. Chaikin Money Flow also rose well above zero signaling a rise in the inflow of capital into the coin market.

This targeted a bullish reversal to $61 while its immediate support was found at $51.

Tron [TRX]:

Tron [TRX] was down by 0.15% over the last 24-hours and was valued at $0.0271. At the time of writing, TRX registered a market cap of $1.94 billion and a 24-hour trading volume of $873 million. The minor upward trend was halted as bears gained control of TRX’s price.

This was also evidenced by the dotted markers hovering above the TRX price candles resisting a breakout. RSI, on the other hand, stagnated a little over the 50-median depicting a sentiment of buying pressure in the coin market. If the bulls fail to be in command, TRX could retest crucial support of $0.0247 while the resistance level remained unbreached at $0.030.

Reena Shaw: Reena Shaw is a TWJ full-time writer on crypto-currency. A Journalism graduate, her research focuses on legislation and policy-making in the cryptocurrency market.