The Bitcoin effect has had its effects on altcoins. The last 24 hours data showcases positive charts for LINK, ADA and TRX.
LINK continued its rising value with a correction while Cardano chose it after a new ATH.
TRON has survived a resistance that has plagued it for a long time, and there are no obstacles. It can go as high as $ 0.061.
Chainlink, which gained momentum as of February 7, crowned its rise by reaching $ 28.6 during the day. However, it is quite possible that this uptrend will return to a correction point. With the increase of Bitcoin the other day, LINK, which had its share of the activity in altcoins, was trading at $ 27.9 at the time of writing.
Movement in a channel with rising momentum has been seen for a while for LINK. After this move, the asset can reach $ 31, but it must pass the test of the resistance level.
What can be expected in the short term?
LINK encountered a point of resistance for itself with the increase. The asset, which tested this resistance point at roughly $ 27.5 levels in the early hours of its day, could not find a place for itself after the resistance and experienced a partial decline. In the evening, there was a movement again and after $ 28.6, it moved back again. For LINK, if a strong rejection comes from this level, it could drop to $ 25.9, the support point for the asset correction.
The bullish channel captured is a nice detail for LINK, but the test environment at the resistance level may be forcing LINK to go for a correction. It crossed the 27.5 resistance point at the time of writing, but another resistance at $ 28.5 like this could trigger a drift towards the support levels in the event of a rejection. As can be seen in some examples, his success in other resistances that he is in or in front of us can also make him a support point for himself.
The ADA, which hit a record high for itself at $ 0.91 last day, faced some decline when we entered the early hours of the day. Although the asset witnessed 0.86 momentary drops in the 3 hours of this incident, it managed to reach $ 0.95 at 1:00 in the morning. With this new ATH, he failed his first test retracement at the $ 0.91 resistance level for himself. Although there were new attempts at this resistance point in power, it started to rise again as of noon. The asset was at the level of $ 0.95 at the time of writing.
Short Term Techniques
Cardano broke a new value record as of evening hours. Having reached as high as $ 0.98, the asset pulled back due to some resistance. This may be required for ADA. The MACD is showing itself at the positive point and the RSI data has started to be at the overbought point.
For the time being, ADA may need rebounds to catch the $ 1 break. CMF data also show the intensity of demand positively.
New test reactions may give in the coming hours to the new resistance point for the entity itself. Demand increase will be supportive for resistance break. However, if it experiences rejection, there is a possibility that it may fall into support points.
TRON is now trying to get rid of a resistance point that has been a troublemaker for itself. The $ 0.044 resistance level, which has been troubling since its record reaching as high as $ 0.23 in 2018, broke after a long time. Although he tried to overcome this level several times, he had difficulty in getting above this level and breaking the resistance for years. At the time of writing, TRON was trading at $ 0.0493.
Short Term Techniques
The altcoin bull movement with BTC influence has also been effective for TRON. The asset, which started the week at $ 0.03 levels, gained a serious momentum and managed to increase its total weekly increase to 45% levels, above $ 0.05.
TRON is located above the point of resistance, which is difficult to break down for now. However, technical parameters for the asset also support the upward trend. The CMF indicator is fluctuating in the hourly chart but is in the rising zone.
RSI data were constantly on high areas during the day. In addition, the volume indicator shows that there is a very high demand and transaction in OBV. With the last indicators, it can be expected that this resistance will now be broken and the progress towards new points will continue.
With the trend of the new momentum movement, an upward movement of $ 0.61 can be expected for the asset. It should not be forgotten that if it is not certain and in an unexpected situation it falls from the resistance, it may decline to the support fib correction point of $ 0.42.