Chainlink, Coin, VeChain Price Analysis: 01 December

Wednesday 02 December 2020, 5:09 AM AEST - 1 month ago

Bitcoins market cap was at $361 billion as the market eagerly anticipated a daily close above ATH. Chainlink was trading within an ascending channel and recently flipped the $14 psychological level to support, and could do the same to $14.5 resistance over the next few trading sessions. Coin attempted to recover from its recent losses but toiled under a longer-term downtrend. VeChain could see a breakout in the coming hours toward $0.0178 resistance.

Chainlink [LINK] PA-3-LINKUSD.pngSource: LINK/USD on TradingView

Chainlink was trading within an ascending channel. The OBV registered higher lows over the past few days, since LINKs drop below $13, and indicated that buying volume backed the recent rise in price.

$14.5 has been a stiff zone of resistance for LINK in the past and will not differ this time around. Yet, the strong bullish outlook for Bitcoin and Ethereum could lend LINK bulls a helping hand in driving prices higher.

In other news, Chainlink announced its support for the development of in-demand Ethereum infrastructure projects via its participation in Gitcoin Grants Round 8. Coin [CRO] PA-3-CROUSDT.pngSource: CRO/USDT on TradingView

The longer-term trend for CRO has been downward. Yet, before the recent drop from $0.08 to $0.06, CRO had been in a short-term uptrend.

Before the coin had a chance to consolidate its gains, it dropped by nearly 25% overnight. Following this drop, it had once more been making a stream of steady gains.

Using the Fibonacci Retracement tool to highlight some levels of resist ...

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