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How High Will Chainlink Price Go in October?

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1 month ago

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The trend for Chainlink price has been very indecisive in the last week and month, but it seems to have a better picture in the broader setting for October, as it has grown from $10.60 to $11.13—a gain of almost 4%.

Some forecasts even show Chainlink breaking above the $12 point by the beginning of next month. Further predictions suggest that in 2025, the Chainlink price could slide within the corridor of $10 to $15.

Chainlink Price to Break Out in October, Eyes $13

Chainlink has been among the best performers for the week, appreciating as it followed the broader market rally and breaking out above key resistance. The contracting Bollinger Bands promise a potential upside beyond the $13 level in October, while the converging MACD indicator favors the same approach to the positive zone. But first, Chainlink price, in order to fulfill latest price predictions, needs to overcome the resistance to advance further.

LINK price during last 7 daysLINK price during last 7 days

Chainlink has been doing exceptionally well lately, primarily due to several key network developments. Factors supporting LINK’s price upside bias have included the introduction of staking, scaling of its data Oracle network, and its latest addition, Secure Mint.

At the time of the last update, the Chainlink price was $11.17, down 1.34% in the last 24 hours but up over 5.3% in a week. The big question is: Could the upward move help this token burst past the pivotal resistance, falling at $13?

Chainlink (LINK) priceChainlink (LINK) price
Credit: TradingView

Technical analysis with indicators gives a sell signal for both short- and long-term Chainlink outlooks. However, that does not impede the coin from leaving about 53% green days in the last month of trading. Its price volatility in this period stands at about 5.75%.

Bullish Momentum Supported by Technical Analysis

Several reasons substantiate this bravado. Firstly, Chainlink’s exchange reserves are low, and one only can sell a small portion of the total supply. This scarcity could add to an impending rally because only limited tokens would be available on the exchanges.

Secondly, the Chainlink network has also seen increased active addresses and transaction counts, indicating increased demand for this digital cryptocurrency. More noticeably, whale activity has spiked, or heavy investment interest.

Currently, there has been an imbalance in traders’ positions, with a majority selling the token while others taking on long positions. Analysts suggest that this might be a source of a short squeeze if the Chainlink price broke over resistance, pushing short sellers to cover their positions.

LINK Token Gains Momentum as Whales Buy In

Some crypto analysts see the token as one of the few investment opportunities currently available, especially at the current entry points. Some, in fact, are confident in notable growth potential based on technical patterns that could lead to the appearance of price action similar to the previous all-time high.

Just a few days ago, in a strategic move to further secure its bridge and increase its adoption, Ronin, the EVM blockchain for gaming, implemented the Chainlink CCIP. Another client is purchasing  tokens from the open market, driving demand and possibly setting the stage for a Chainlink price explosion.

Moreover, Santiment reported a recent whale accumulation of the token following a market correction. In general, this reflects the conviction in the future value of an asset and, therefore, the demand, which drives up the price. Large holders have increased from 489 to 502 in the first week of October, which is impressive, which means whale interest in the coin is on the rise.

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Teuta

Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries. Starting her career in 2005 as a lifestyle writer for Cosmopolitan in Croatia, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg. Influenced by figures like Don Tapscott and Bruce Dickinson, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions. Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law, enjoys punk rock, chablis, and has a passion for shoes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Here’s Why The XRP Price Surged Past $0.8 Despite The Market Dump

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28 mins ago

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November 16, 2024

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The XRP price has just had its biggest 24-hour surge in years to reach its highest level in over two years. Particularly, XRP surged by about 22% in a few hours to reach $0.8386. This intriguing surge has brought into focus XRP’s potential to challenge the narrative of it being dead. 

Ironically, this XRP surge is tied to SEC Chair Gary Gensler. This is because the SEC Chair recently made an announcement hinting at what seems like a looming resignation, which seems to have fueled optimism among crypto investors.

Why Did XRP Surge Amidst Market Corrections?

SEC Chairman Gary Gensler, known for his crackdown on Ripple, XRP, and the entire crypto market, made an announcement today regarding his role in the commission. Interestingly, his remarks carried the tone of a farewell speech, reflecting on his journey with the SEC and its staff while hinting at a departure. 

This doesn’t come as a surprise, as president-elect Donald Trump has made it a part of his campaign to fire Gensler after he’s sworn into office to appeal to crypto investors. Also, it aligns with the tradition of heads of institutions like the SEC to resign down when a new administration from a different political party takes office.

Beyond the recent remarks by Gary Gensler, the XRP price has also gained momentum from a favorable ruling for Ripple in its ongoing dispute with the SEC. US Judge Phyllis Hamilton recently granted a joint motion for entry of judgement of the plantiff’s claims. Basically, what this means is that the Court has granted Ripple’s request for a hold on individual state law claims until a resolution could be achieved. This ruling represents another minor victory for Ripple as the legal battle stretches on, with a trial date now set for January 21 of next year.

What Does A Gensler Resign Mean For XRP?

The latest XRP rally is a tease of what’s in store for the XRP price in the longer term if Gary Gensler eventually leaves his position as Chairman of the SEC. Firstly, Gensler’s resignation could influence the trajectory of the Ripple-SEC lawsuit. A new SEC chair with a more crypto-friendly perspective might withdraw the appeal against Ripple, essentially removing a great burden that has slowed down XRP price growth. 

Beyond the Ripple case, Gensler’s departure could signal a broader shift in the SEC’s regulatory approach to the crypto industry. US president-elect Donald Trump has said he wants the US to be the ‘crypto capital of the planet’. This misson would undoubtedly be reflected through the SEC. This could result in the approval of more exchange-traded funds (ETFs) based on cryptocurrencies, including XRP. 

At the time of writing, XRP is trading at $0.81.

XRP price chart from Tradingview.com
Token price surges above $0.8 | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com





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Ripple CEO Garlinghouse Highlights Reason Behind XRP Rally

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1 hour ago

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November 16, 2024

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Ripple CEO Brad Garlinghouse has linked the recent surge in XRP price to growing optimism about regulatory clarity in the U.S. In an interview with FOX Business, Garlinghouse emphasized the importance of a more balanced approach to crypto regulation under the new administration. He noted that U.S.-linked cryptocurrencies, including Solana (SOL) and Cardano (ADA), have experienced significant growth since Election Day.

Ripple CEO Lauds Trump as a “Crypto President” Amid XRP 70% Surge

Ripple CEO Brad Garlinghouse described the post-election environment as transformative for the cryptocurrency sector, crediting pro-crypto policies for the 70% rise in XRP value. The CEO referred to President-elect Donald Trump as a “crypto president,” praising his openness to blockchain innovation and entrepreneurship.

Brad remarked, 

“The crypto industry has embraced Trump, Trump has embraced the crypto industry. I think it’s very genuine, and I think he sees the opportunity, he sees innovation, he sees entrepreneurship and I’m very excited about what the future holds.”

Garlinghouse highlighted that U.S.-linked crypto assets, such as XRP, SOL, and ADA, have outperformed other tokens due to the expected easing of regulatory pressure. He attributed the rally to reduced constraints from the U.S. Securities and Exchange Commission (SEC), whose actions had stifled growth. The Ripple CEO stated,

“The United States SEC has been manipulating and putting pressure on these US companies, US technologies, and now that pressure comes off and they explode upwards.”

XRP Price Rally Amid Bullish Sentiment

The XRP Price has reached a two-year high of $0.9193, driven by market optimism and key developments like Robinhood’s relisting of the token. Analysts suggest this surge aligns with a breakout from a symmetrical triangle pattern, signaling strong bullish momentum.

Market sentiment has also been boosted by a wave of institutional interest and increased trading activity. XRP is now approaching a critical resistance level at $1.00, with analysts forecasting further gains if this barrier is breached. Projections indicate a possible XRP price prediction of $1.5.

Whale Activity and Institutional Interest Drive Derivatives Market

In addition, the derivatives market for XRP has experienced a surge in activity, with open interest rising by 13% to $1.5 billion. This uptick is attributed to increased whale activity, including a transaction involving 60 million XRP worth $52.8 million. Such movements often suggest institutional trading or large-scale investment strategies.

Moreover, trading volume saw a sharp increase, climbing 25% in the past 24 hours to $11.70 billion. These metrics underscore growing speculative interest and optimism about XRP future performance in a more favorable regulatory environment.

More so, Ripple CEO expressed enthusiasm about the shifting regulatory landscape citing ongoing lawsuits and challenges. He welcomed the involvement of 18 state attorneys general who filed a lawsuit accusing the SEC of overreach in crypto regulation.

At press time, XRP is trading at $0.89, marking a 14% increase in the last 24 hours. The trading volume surged to $11.65 billion while the market cap stands at $50.80 billion.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Polkadot Price Forecast: DOT’s Bullish Trends Return, Why This Crypto Token’s 16,000% Gains May Eclipse It

Published

2 hours ago

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November 15, 2024

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As the Polkadot price regains its bullish momentum, a new contender, ETFSwap (ETFS), is capturing attention with a staggering 16,000% growth potential. Analysts are now watching closely, suggesting that the crypto token could soon outshine Polkadot (DOT) in the race for top crypto gains.

DOT On The Rise: Polkadot’s Bullish Patterns Point To Growth

The Polkadot price has shown renewed strength, with bullish trends re-emerging after a period of volatility. As one of the most innovative blockchain networks, Polkadot’s (DOT) recent price movements have captured the attention of both investors and analysts. 

The resurgence in the Polkadot price is fueled by ongoing technological advancements within its ecosystem and increasing adoption by developers who appreciate its unique multi-chain interoperability. This foundational appeal is contributing to a positive outlook, indicating that DOT may continue its upward trend. 

Analysts suggest that several factors are aligning to support the Polkadot price. First, Polkadot’s continued focus on improving interoperability between blockchains positions it as a leader in facilitating cross-chain communication. This advantage attracts a wide array of projects, strengthening the network’s overall value. 

Additionally, recent updates have improved network scalability, further improving its appeal and supporting the bullish momentum behind the Polkadot price. As more projects opt to build on Polkadot, the ecosystem’s growth could drive sustained demand for DOT tokens.

Despite the encouraging signs, the Polkadot price will likely encounter resistance at key levels. Like other cryptocurrencies, DOT’s trajectory remains sensitive to broader market trends and investor sentiment. However, if Polkadot (DOT) maintains its current pace of development and adoption, analysts believe that these bullish trends could translate into substantial gains in the crypto market. 

ETFSwap (ETFS): The Crypto Token Set To Deliver Unmatched Returns

As Polkadot (DOT) regains its bullish footing, investor interest is increasingly shifting towards ETFSwap (ETFS), a promising crypto token projected to deliver an impressive 16,000% returns. The crypto token is positioned to transform the exchange-traded fund (ETF) landscape through asset tokenization. This makes ETFs more accessible by integrating the worlds of crypto and traditional finance in a way that could significantly boost their market value. 

ETFSwap (ETFS) provides smooth asset transfers across multiple exchanges, designed with low transaction fees and high-security infrastructure essential for reducing entry barriers and maximizing investment flexibility. 

With features like robust liquidity, a flexible trading model, and non-expiring utility, ETFSwap (ETFS) creates an ideal environment for the type of rapid growth that could lead to 16,000% gains in the crypto market. 

Investor trust in ETFSwap (ETFS) is further bolstered by the platform’s dedication to security. The ETFSwap team has earned a compliance certificate from SolidProof after completing a comprehensive Know Your Customer (KYC) verification, and the platform’s smart contracts have undergone an audit by Cyberscope. These certifications highlight ETFSwap’s commitment to safety and transparency, helping to build a secure foundation for the ambitious growth projections. 

Additionally, ETFSwap (ETFS) supports 24/7 trading access, drawing in investors who consider continuous market access essential for maximizing gains. The platform’s beginner-friendly interface further boosts its appeal by simplifying ETF trading for newcomers looking to enter the crypto space. 

Currently in its beta phase, ETFSwap (ETFS) introduces innovative features, including high-yield liquidity pools, real-time ETF monitoring, and staking options. In the next phase, the crypto token will launch AI-powered ETF screeners with predictive tools, sentiment analysis, and real-time data, which analysts expect will strengthen investor confidence. With these advanced capabilities, ETFSwap (ETFS) is carving out a leadership role in integrating ETFs with crypto, setting itself apart as a prime choice for 16,000% gains in the market.

Conclusion

Despite recent projections for the Polkadot price, numerous investors are turning their attention to high-potential alternatives like ETFSwap (ETFS), a crypto token poised for remarkable 16,000% gains. 

Currently, ETFS tokens are available at a price of $0.05769, with an exclusive 50% bonus for investors using the promo code ETFS50. As this bonus round draws to a close, experts recommend seizing this moment to benefit from ETFSwap’s (ETFS) rising momentum and its substantial 16,000% growth potential in the evolving crypto market.

For more information about the ETFS Presale:

Visit ETFSwap Presale

Join The ETFSwap Community



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