Market
Chainlink (LINK) Price Continues Bullish Momentum

Chainlink has recently experienced a significant price increase, jumping from $13 to $17.
This analysis delves into the factors driving this impressive rise. Focusing on the spike in on-chain activity and Bitcoin’s concurrent rally.
Chainlink Bullish Outlook Backed by Key Levels
On the daily timeframe, Chainlink has tested the upper boundary of the Ichimoku cloud, which is currently around the $17.41 mark. This test suggests a strong resistance level. A successful break above this boundary could indicate further bullish momentum.
The Ichimoku Cloud is a tool used in technical analysis to help identify trends in the market. Here’s a simple breakdown:
Cloud: The shaded area on the chart shows potential support and resistance levels.
When the price is above the cloud, it suggests an upward trend (bullish). When the price is below the cloud, it suggests a downward trend (bearish).
Lines: There are several lines in the Ichimoku Cloud:
Conversion Line (Tenkan): Shows the average price over the last 9 periods (candles).
Base Line (Kijun): Shows the average price over the last 26 periods (candles).
Leading Span A and B: These form the cloud and project future support and resistance levels.
Read More: How To Buy Chainlink (LINK) and Everything You Need To Know

Chainlink has retraced to the Fibonacci levels, with significant support observed at $16.41 (0.236), $15.525 (0.382 level), and $14.09 (0.618 level). Holding above these levels, especially the $15.525 support, will maintain the bullish outlook.
Chainlink vs Bitcoin: LINK Price Expected to Climb Against BTC
Additionally, LINK/BTC on the daily timeframe has just entered the Ichimoku cloud, signaling a potential upward trajectory. The entry into the cloud is often a precursor to a price increase, suggesting that LINK could see further gains against Bitcoin.

On the 4-hour timeframe, LINK is trading above the Ichimoku cloud against Bitcoin and is currently testing its upper boundary. If LINK can maintain this position, it supports the bullish outlook. However, if LINK fails to hold above this level and breaks downward, it could change the market sentiment.

The bullish scenario becomes more favorable considering Bitcoin’s potential rise to $73,000. If Bitcoin continues its upward trend, LINK could potentially trade back at $19 in the mid-term.
Overall, the technical indicators and key support/resistance levels suggest a strong bullish potential for Chainlink, provided it can hold above critical levels and capitalize on Bitcoin’s upward momentum.

The recent spike in on-chain activity for Chainlink has helped propel its price from $13 to $17. This surge in activity is evident in the sharp increase in daily active addresses, as shown in the chart.
The green line representing active addresses has notably spiked, indicating heightened network usage and engagement.
Read More: Chainlink (LINK) Price Prediction 2024/2025/2030
Additionally, Bitcoin’s concurrent rise to $72,000 has provided a favorable macro environment for Chainlink’s price increase. The bullish momentum in the broader cryptocurrency market, led by Bitcoin, has likely contributed to the positive price action observed in Chainlink.
Strategic Recommendations
Bullish Outlook:
Key levels to watch are $16.41 (the upper boundary of the Ichimoku cloud), $15.52 (the 0.382 Fibonacci level), and $14.09 (the 0.618 Fibonacci level). These indicators can help you optimize your trading strategy.
While LINK shows strong potential, diversify your portfolio with other high-potential assets to mitigate risk.
Stay informed about Chainlink’s developments and participate in community discussions to gain insights into upcoming projects.
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.
Market
BNB Price Faces More Downside—Can Bulls Step In?

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
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At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.
Market
VanEck Sets Stage for BNB ETF with Official Trust Filing

Global investment management firm VanEck has officially registered a statutory trust in Delaware for Binance’s BNB (BNB) exchange-traded fund (ETF).
This move marks the first attempt to launch a spot BNB ETF in the United States. It could potentially open new avenues for institutional and retail investors to gain exposure to the asset through a regulated investment vehicle.
VanEck Moves Forward with BNB ETF
The trust was registered on March 31 under the name “VanEck BNB ETF” with filing number 10148820. It was recorded on Delaware’s official state website.

The proposed BNB ETF would track the price of BNB. It is the native cryptocurrency of the BNB Chain ecosystem, developed by the cryptocurrency exchange Binance.
As per the latest data, BNB ranks as the fifth-largest cryptocurrency by market capitalization at $87.1 billion. Despite its significant market position, both BNB’s price and the broader cryptocurrency market have faced some challenges recently.
Over the past month, the altcoin’s value has declined 2.2%. At the time of writing, BNB was trading at $598. This represented a 1.7% dip in the last 24 hours, according to data from BeInCrypto.

While the trust filing hasn’t yet led to a price uptick, the community remains optimistic about the prospects of BNB, especially with this new development.
“Send BNB to the moon now,” an analyst posted on X (formerly Twitter).
The filing comes just weeks after VanEck made a similar move for Avalanche (AVAX). On March 10, VanEck registered a trust for an AVAX-focused ETF.
This was quickly followed by the filing of an S-1 registration statement with the US Securities and Exchange Commission (SEC). Given this precedent, a similar S-1 filing for a BNB ETF could follow soon.
“A big step toward bringing BNB to US institutional investors!” another analyst wrote.
Meanwhile, the industry has seen an influx of crypto fund applications at the SEC following the election of a pro-crypto administration. In fact, a recent survey revealed that 71% of ETF investors are bullish on crypto and plan to increase their allocations to cryptocurrency ETFs in the next 12 months.
“Three-quarters of allocators expect to increase their investment in cryptocurrency-focused ETFs over the next 12 months, with demand highest in Asia (80%), and the US (76%), in contrast to Europe (59%),” the survey revealed.
This growing interest in crypto ETFs could drive further demand for assets like BNB, making the VanEck BNB ETF a potentially significant product in the market.
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.
Market
XRP Recovery Stalls—Are Bears Still In Control?

XRP price started a fresh decline from the $2.20 zone. The price is now consolidating and might face hurdles near the $2.120 level.
- XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
- The price is now trading below $2.150 and the 100-hourly Simple Moving Average.
- There is a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might extend losses if it fails to clear the $2.20 resistance zone.
XRP Price Faces Rejection
XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.120 levels.
The bears were able to push the price below the 50% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high. There is also a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair.
The price is now trading below $2.150 and the 100-hourly Simple Moving Average. However, the bulls are now active near the $2.10 support level. They are protecting the 61.8% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high.
On the upside, the price might face resistance near the $2.120 level and the trend line zone. The first major resistance is near the $2.150 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.240 resistance. Any more gains might send the price toward the $2.2650 resistance or even $2.2880 in the near term. The next major hurdle for the bulls might be $2.320.
Another Decline?
If XRP fails to clear the $2.150 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.0650 level.
If there is a downside break and a close below the $2.0650 level, the price might continue to decline toward the $2.020 support. The next major support sits near the $2.00 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $2.10 and $2.050.
Major Resistance Levels – $2.120 and $2.20.
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