Chainlink (LINK) Trends: Recent Market Volatility Favors Bears, but Trendline Indicates Possible Upside
Chainlink (LINK) is a blockchain abstraction layer that facilitates smart contracts by securely connecting blockchains with external data sources. Chainlink (LINK) is driven by a large open-source community, and prioritizes decentralized participation. Chainlink (LINK) price has been experiencing some ups and downs in the market lately. Although the price couldn't go past the 55-day and 200-day Simple Moving Averages (SMA) due to resistance from the bears, the experts anticipate a strong support around $7 price for Chainlink (LINK). The recent volatility in the market has been favoring the bears, but the trendline support for Chainlink (LINK) suggests that the price may jump back up soon. If the bulls are successful in breaking the resistance levels, and turning the 55-day and 200-day SMA into supportive measures, Chainlink’s (LINK) price may rise up to $7.50, which is a near 13% gain. However, if the price breaks below the green ascending trendline, it could be a significant risk as bears will start selling their holdings, which may lead to a downward spiral in the price, causing Chainlink (LINK) to drop to $6, which is a near 8% loss.
Investing in Polkadot (DOT): What to Consider Amidst Market Volatility
Polkadot (DOT) is a game-changing blockchain protocol that connects and secures a network of specialized blockchains, making it possible for different networks to talk to each other. This creates a decentralized internet of blockchains, also known as Web3. With Polkadot (DOT), users have more control over the web, and can seamlessly create new applications and services. Additional, Polkadot (DOT) token is used for staking, network governance, and connecting parachains. Polkadot (DOT) continues to face heavy selling pressure, with its price dropping to $5 amid the recent sell-off. The market condition suggests that holders are likely to give up if Polkadot (DOT) continues to show weakness, while futures traders are likely to add more positions to their shorts. Although Polkadot’s (DOT) price has recovered slightly in the last few hours, it is still overstretched and shows no signs of reversal, indicating strong dominance of bears. A failure to recover higher may cause a devastating drop below the $5 price level, leading to severe pain for investors. If the weekly low for Polkadot (DOT) presents an opportunity to buy, investors should keep in mind that the crucial resistance level to consider is $6.
TMS Network (TMSN) Raises over $3.5 Million in Presale: Is This the Next Big Thing in DeFi?
TMS Network (TMSN) aims to change the DeFi market and has grown more than 12x, making it a valuable asset for investors. TMS Network (TMSN) offers a unique investment platform that combines the best of DeFi and traditional investing. On TMS Network (TMSN), investors can use cryptocurrency to purchase TMSN tokens, crypto assets, traditional stocks, forex, and other investments. The platform also offers education tools to help investors optimize their strategies. Investors can learn from placing trades to how markets operate using TMS Network’s (TMSN) educational platform. Investors can also watch their favorite investors with TMS Network's social trading options.
TMSN has implemented security measures to prevent market manipulation and wash trading, which have been audited by InterFi Network to ensure their effectiveness. TMS Network (TMSN) has already raised over $3.5 million during two presale stages, and is attracting investors worldwide. Experts predict that TMS Network has the potential to grow 100x in early 2023. TMS Network (TMSN) is currently priced at $0.039, and the value is set to increase further as the presale stage 2 progresses.
Understand what makes TMS Network (TMSN) A Popular Choice in a market where established players like Chainlink (LINK) and Polkadot (DOT) are Struggling
Send us your comments or opinion on this article.