The cryptocurrency market has been consolidating over the past day, and no major gains have been made. However, LINK (LN) has defied the odds and gained by 8.3% in the last 24 hours. The token has outperformed most tokens in the market during this time.
LN price prediction
The broader cryptocurrency market is bearish today, but LN has decoupled from this and made its independent rally. All the top-ten cryptocurrencies are trading in the red today, and the total crypto market cap has dipped slightly by 0.2% to $824 billion.
LN has reported a notable rise in volatility in the last 24 hours, with the token trading in the range of $19.67 and $21.92. At the time of writing, LN was trading at $21.45, and the intense buying pressure shows a likelihood that the token could rally higher.
LN has reported trading volumes of $1.13 million over the past day, which are healthy volumes, given that many traders are choosing to stay away from the market because of fear and uncertainty. After the recent gains, LN’s market capitalization now stands at around $143 million, ranking it as one of the low cap cryptos.
LN’s recent gains could be attributed to the exhaustion of the downtrend. The token is down by 87% over the past year. If the bulls grow stronger and sustain the uptrend, LN will likely continue with the rally and possibly aim for $22. This could trigger a rally past $24.
On the other hand, the lack of market support could trigger a bearish trend that will push LN lower, and the token could test levels below $20. The bullish thesis will be invalidated if LN falls below $18.
LN price chart
The technical analysis of LN shows a strong bullish trend. The token has a Relative Strength Index of 66, showing that the buyers currently control the market, indicating that more gains could be on the way.
The movement of the Moving Average Convergence Divergence (MACD) line also points toward a bullish trend. While these metrics indicate that the token could continue rallying in the short term, they also point to a possible reversal being on the way.
Altcoin alternatives to buy for 10x gains
As LN reports a bullish trend, crypto traders are looking to diversify their portfolio, with some of the best presales happening today. Some presale coins that could deliver 10x gains are Dash 2 Trade and FightOut.
Dash 2 Trade
The Dash 2 Trade presale is garnering much interest because of the robust fundamentals of the project. Dash 2 Trade is a crypto trading platform that will allow traders to access on-chain data, analytics, social trading, and strategy-building tools to help them make informed decisions.
The Dash 2 Trade presale is in the last stage, and only seven days are left before the presale closes. The presale has already raised more than $11.5 million. After the presale closes, D2T will have its first CEX listing on January 11, 2023.
The FightOut presale is also fast-selling out. Crypto investors looking to invest in a move-to-earn platform choose FightOut because of its unique offerings. Unlike other M2E platforms, FightOut offers a holistic approach to fitness. It also does not need expensive NFTs for people to participate.
The FightOut presale is in the first stage, but the tokens are fast selling out as early investors take advantage of the 50% bonus. The presale has raised more than $2.4 million.
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