For some days, the price of Chainlink (LINK) has been swinging between $10 and $11. This is a surprising move, considering the project’s recent notable developments.

But with Chainlink bears at the forefront of control, here is why the altcoin might find it challenging to react positively in the short term.

Chainlink Bears Take Bulls Out

According to IntoTheBlock, the Chainlink Bulls and Bears indicator favors bears. In this context, bears are addresses selling at least 1% of the total trading volume. Bulls, on the other hand, are those selling the same supply.

When bulls have more volume than bears, the price of the asset can increase. But as of this writing, Chainlink bears have sold over 500,000 more tokens than bulls purchased. 

Given this position, it seems highly unlikely that LINK’s price will increase, despite some analysts believing that the token should be trading for at least $15.

Read more: How to Buy Chainlink (LINK) With a Credit Card: A Step-By-Step Guide

Besides this, the In/Out of Money Around Price (IOMAP) shows that LINK might continue to face resistance despite several attempts to surpass $12. The IOMAP shows the number of addresses and volume holding a token in unrealized profits or losses.

If the volume of losses surpasses that of profits, the next cluster will likely serve as a major resistance point. Conversely, a higher volume of profits will create a significant support region.

As shown above, the major resistance lies between $12.47 and $12.82. At this point, almost 18,000 addresses purchased more than 100 million LINK tokens. Therefore, if the price moves toward this region, some addresses might break even, possibly pushing the value lower.

LINK Price Prediction: Lower Lows

On the daily chart, Chainlink faces a notable resistance to $12.70. Besides that, the Exponential Moving Average (EMA) suggests that the altcoin might drop lower than the current value.

As seen below, the 20 EMA (blue) and 50 EMA (yellow) are in the same region. This trend suggests indecision among traders. But it appears that Chainlink bears have the upper hand.

Read more: Chainlink (LINK) Price Prediction 2024/2025/2030

Given the current situation, LINK’s price may drop below $10. However, bulls can prevent this decline. To achieve this, Chainlink bears must take a back seat. If they do, the token could rebound and reach $15.25.

Solana-based meme coin Cats in a Dog’s World (MEW) soared to a new all-time high of $0.011 today, driven by a 12% price increase over the past 24 hours. 

However, with market conditions heating up, signs of buyer exhaustion are emerging, and a price correction may be on the horizon. This analysis outlines key price targets that MEW holders should monitor as the potential pullback looms.

cats in a dogs world Buyers May Soon Witness Exhaustion

MEW briefly surged to a new all-time high of $0.01066 on Thursday before experiencing a slight pullback. As of this writing, the meme coin is trading at $0.01056, down 2% from its peak.

While the rally has brought gains for many holders, BeInCrypto’s analysis of the MEW/USD 12-hour chart suggests a potential short-term price correction. A key indicator of this is MEW’s overbought condition, as reflected by its Relative Strength Index (RSI), which currently sits at 72.73.

Read more: Top 9 Safest Crypto Exchanges in 2024

This indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a correction. On the other hand, values below 30 indicate that the asset is oversold and may soon witness a rebound.

MEW’s RSI reading of 72.73 signals that it is overbought. It hints at potential buyer exhaustion and suggests the likelihood of a price pullback in the short term as traders start to sell to lock in profits.

Additionally, MEW’s plummeting Chaikin Money Flow (CMF) confirms this rise in profit-taking activity among market participants. As of this writing, MEW’s CMF rests below its zero line at -0.02.

The CMF measures money flow into and out of an asset. When its value is below 1, it suggests that selling pressure is dominant, indicating that more money is flowing out of the asset than into it. It is a sign that investors are offloading positions, reducing the likelihood of a continued upward trend.

MEW Price Prediction: The Bulls Must Defend These Levels

MEW is currently trading at $0.010, just below its all-time high resistance of $0.011. With buying pressure fading, the meme coin could experience a pullback toward support at $0.009, marking a 13% drop from its current price. Should demand fail to materialize at this level, MEW’s price could fall further to $0.0081.

Read more: 11 Top Solana Meme Coins to Watch in October 2024

However, this bearish outlook could be invalidated if profit-taking subsides and new demand emerges. In that case, MEW’s price could reclaim its all-time high of $0.011 and potentially push beyond it.

Dogecoin (DOGE) holders who have clung to their coins for a significant period might now be preparing to cash in. There has been a notable movement in DOGE coins held for extended periods, suggesting a shift in sentiment among these long-term investors.

In this analysis, BeInCrypto explores the potential outcomes arising from the movements of these previously dormant coins.

Dogecoin’s Age-Consumed Spikes To 16-Month High

On-chain data shows that Dogecoin’s Age Consumed, which tracks the movement of long-held coins, skyrocketed by over 3,000% on Thursday, reaching 1.02 trillion —its highest since June 2023.

Read more: Dogecoin (DOGE) Price Prediction 2024/2025/2030

When an asset’s age consumed spikes, it indicates that long-inactive coins or tokens have recently been moved or traded.

Typically, the reactivation of dormant coins signals renewed interest from long-term holders, which many consider a bullish indicator. However, for this bullish trend to play out, the influx of newly circulated coins must be met with sufficient demand to absorb the increased supply. 

Yet, an assessment of the DOGE/USD 12-hour chart reveals that no such demand is present in the market. As of this writing, its on-balance volume (OBV), which measures buying and selling volume in the market, is in a downtrend and is positioned at 507.90 billion. When an asset’s OBV is in a downtrend, it typically indicates that the selling pressure exceeds the buying pressure. 

Additionally, the meme coin’s negative Balance of Power (BoP) confirms that demand for DOGE is low. This indicator, which measures the strength of buyers versus sellers in the market, is at -0.34 at press time. A negative BoP suggests sellers are in control and attempting to push the asset’s price downward. 

DOGE Price Prediction: 41% Decline?

As of this writing, Dogecoin’s price sits at the support line formed at $0.13 and may fall below this level as selling pressure strengthens. A decline below this level will shift the meme coin’s focus to the next major support formed at $0.11. If this level fails to hold, Dogecoin’s price may drop to $0.08, representing a 41% decline from its current price.

Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know

However, rising demand may absorb the new coins in circulation, holding the $0.13 support level. This could potentially set the stage for Dogecoin’s price to rally toward $0.15.