Market
Breaking Resistance Could Lead to Major Gains
Chainlink (LINK) price has been gaining attention as it approaches key resistance levels, with several technical signals suggesting potential moves ahead.
Following a recent surge, LINK’s momentum could lead to further growth, but traders are keeping a close eye on critical thresholds.
LINK Directional Movement Index Looks Bullish
The Directional Movement Index (DMI) for LINK currently shows strong bullish momentum. The Positive Directional Index (+DI) is at 29.2, significantly outpacing the Negative Directional Index (-DI) at 13.3, indicating that buyers have a clear advantage over sellers. The Average Directional Index (ADX), which measures trend strength, is at 28.2, suggesting that the current trend is sustainable.
The DMI is composed of three key indicators: +DI, -DI, and ADX. While +DI and -DI track the strength of upward and downward price movements, the ADX measures overall trend strength. Typically, an ADX above 25 signals a strong trend, while lower values suggest weaker trends or consolidation. When the +DI surpasses the -DI, it indicates bullish momentum, and the reverse suggests bearish sentiment.
Read more: How to Buy Chainlink (LINK) With a Credit Card: A Step-By-Step Guide
With the +DI far higher than the -DI and the ADX above 25, LINK is in a strong upward trend. This suggests that its price could continue to climb in the short term as buying pressure dominates. However, traders should keep an eye on the ADX for any shifts in trend strength, as well as the interaction between the +DI and -DI lines, which could signal potential reversals.
Chainlink 7D MVRV Shows Potential, But Caution Is Needed
LINK 7-day MVRV Ratio is currently at 7.9%, suggesting that the asset might still have room for price growth. The MVRV (Market Value to Realized Value) ratio is a metric used to assess holders’ potential profitability by comparing the current market value to the average price at which coins were acquired.
Generally, a high MVRV ratio indicates that holders have a higher level of unrealized profit, which can lead to increased selling pressure and potential price corrections. Conversely, a low MVRV ratio suggests that fewer holders are in profit, reducing the likelihood of a major sell-off.
Historically, MVRV thresholds vary, but a value around 10% has often been a signal of overvaluation, leading to potential corrections. For LINK, specifically, over the last six months, the price has held steady as the MVRV approached 10%. However, once this threshold was reached, LINK price experienced corrections, as traders likely took profits at elevated levels.
At the current MVRV of 7.9%, LINK appears to have some room for further price growth. However, with the ratio nearing the 10% threshold, it is important to monitor this metric closely. A rise beyond that point could indicate an increased risk of a pullback as more holders enter profitable territory and may consider selling.
LINK Price Prediction: 50% Surge Likely
On September 17, LINK EMA (Exponential Moving Average) lines formed a golden cross, triggering a notable price surge of 20% in the following days. A golden cross occurs when a short-term EMA crosses above a long-term EMA, typically signaling a bullish shift in momentum. Traders often watch for this pattern as an indication of upward price movement.
The EMAs smooth out price data to help identify trends, with a golden cross commonly viewed as a bullish sign, especially when the shorter EMA crosses above the longer one.
Read more: Chainlink (LINK) Price Prediction 2024/2025/2030
Though the EMA lines are currently in a bullish formation, they are not yet significantly separated, which may lead to some caution among traders. The closer proximity of the lines can suggest that while the trend is bullish, it might not be fully established or could revert with volatility.
Chainlink is now facing strong resistance at key levels of $13.9 and $15. If LINK manages to break through these resistances, it could test the $19.1 level. That would represent a 50% growth from its current price.
However, if the trend reverses and the EMAs cross again, LINK could experience a pullback. It could potentially drop back to $9.9, a key support level. Traders should closely monitor these levels as they will play a crucial role in determining LINK’s next move.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Bitcoin price started a fresh increase above the $104,000 zone. BTC is consolidating above $105,000 and might aim for a new all-time high.
- Bitcoin started a decent increase above the $102,500 resistance zone.
- The price is trading above $104,500 and the 100 hourly Simple moving average.
- There was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it stays above the $103,500 support zone.
Bitcoin Price Regains Traction
Bitcoin price started a decent upward move above the $102,500 zone. BTC was able to climb above the $103,500 and $104,000 levels.
The bulls even pushed the price above the $105,000 level. Besides, there was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low.
Bitcoin price is now trading above $104,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $107,000 level. It is close to the 76.4% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low.
The first key resistance is near the $107,500 level. A clear move above the $107,500 resistance might send the price higher. The next key resistance could be $109,000.
A close above the $109,000 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level and a new all-time high. Any more gains might send the price toward the $112,500 level.
Downside Correction In BTC?
If Bitcoin fails to rise above the $107,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $104,500 level. The first major support is near the $103,500 level.
The next support is now near the $102,800 zone. Any more losses might send the price toward the $100,500 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $104,500, followed by $103,500.
Major Resistance Levels – $107,000 and $108,500.
AI tokens surged on Wednesday after President Donald Trump unveiled a new joint venture to invest up to $500 billion in artificial intelligence infrastructure.
The partnership involves major players such as OpenAI, Oracle, and SoftBank and will form a new entity called Stargate.
Market Focuses on AI Coins as Trump’s Stargate Initiative Gains Traction
The Stargate Project will invest $500 billion over the next four years, building new AI infrastructure in the US. The venture will focus on developing crucial data centers and the electricity generation required to power the AI sector.
The announcement has already had a noticeable impact on the broader market, particularly in AI-related cryptocurrencies. Following the news, the market capitalization of AI tokens surged by 9%, reaching $45.83 billion at press time, according to CoinGecko.
In fact, the market cap of AI agent tokens alone rose by 13% to hit $14.9 billion.
AI agent tokens, such as Virtuals Protocol, AIXBT, and AI16Z, saw impressive gains. Virtuals Protocol rose by over 13% in the past 24 hours, while AI16Z experienced a remarkable 36% increase. AIXBT token rose by 27% over the same period.
The surge in AI tokens reflects a broader shift in market interest as investors move capital towards more “sentient” tokens.
“Capital is rotating back from static memes to sentient coins,” AI researcher S4mmy commented on Twitter.
The analyst added that Fartcoin and AIXBT are sustaining their “mindshare dominance,” but face declining market caps after a heated run. Commenting on Virtuals Protocol, he said it continues to solidify its position as a backbone of the Agentic infrastructure.
Moreover, analyst CyrilXBT said he believes “AI will create generational wealth in 2025.”
“People said Bitcoin was a joke. People said AI agents are a gimmick. Guess what else they’ll say? ‘Why didn’t I listen when generational wealth was staring me in the face?,” CyrilXBT commented.
The shift towards AI is particularly interesting, given the trend of investments a few days back. Capital was flowing into Donald Trump-related tokens, such as TRUMP and MELANIA, which have seen significant volatility.
However, BeInCrypto reported that smart money traders are now focusing on AI tokens after the hype around TRUMP faded. According to data from Nansen, a substantial amount of VIRTUAL, FARTCOIN, and AIXBT tokens are held by smart money.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price is struggling below the $3,500 resistance while Bitcoin gains. ETH is consolidating above $3,150 and might aim for an upside break.
- Ethereum failed to gain pace for a close above $3,400 and $3,450.
- The price is trading above $3,300 and the 100-hourly Simple Moving Average.
- There is a key contracting triangle forming with resistance at $3,355 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start another increase if it clears the $3,400 resistance level.
Ethereum Price Aims Key Upside Break
Ethereum price started a decent upward move from the $3,200 level but upsides were limited compared to Bitcoin. ETH cleared the $3,250 resistance to move into a short-term bullish zone.
The bulls were able to push the price above the $3,300 resistance zone. Besides, there was a clear move above the 50% Fib retracement level of the downward move from the $3,445 swing high to the $3,203 low. However, the bears are still active below $3,400.
Ethereum price is now trading above $3,300 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level or the 61.8% Fib retracement level of the downward move from the $3,445 swing high to the $3,203 low.
There is also a key contracting triangle forming with resistance at $3,355 on the hourly chart of ETH/USD. The first major resistance is near the $3,400 level. The main resistance is now forming near $3,445.
A clear move above the $3,445 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,720 in the near term.
Another Decline In ETH?
If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250.
A clear move below the $3,250 support might push the price toward the $3,200 support. Any more losses might send the price toward the $3,120 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,200
Major Resistance Level – $3,400
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