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.

Goatseus Maximus (GOAT), the AI-based meme coin trending recently, has hit a new all-time high after Binance announced that it would list the cryptocurrency. Following this development, the GOAT meme coin price climbed to $0.88.

This development has sparked speculation in the market, with some suggesting that the market cap could surpass $1 billion. Will that happen?

Binance Futures Listing Pushes the Volume Higher

According to the Binance announcement earlier today, the exchange will list the GOAT meme coin on the futures market, and users will be able to trade the meme coin using up to 75x leverage.

Before the disclosure, GOAT’s price was $0.77. But after that, the crypto’s value surged to $0.88 before it pulled back slightly to $0.85. Following the development, the volume surged to a new high of $434.88 million. 

In the crypto market, trading volume represents the total number of coins or tokens traded over a specific period. It is a crucial metric that offers insights into market activity and liquidity, helping to gauge the strength and interest in a particular cryptocurrency.

Read More: Binance P2P Guide: Understanding What It Is and How It Works

If sustained, the rising trading volume, coupled with GOAT’s surging value, could push the price above $0.88. Additionally, the Binance futures listing allows more traders to gain exposure to the AI-driven meme coin.

This trend appears to be taking shape as Open Interest (OI) continues to climb. According to Coinglass, OI in GOAT has surged by 272% in the last 24 hours, reaching $13.82 million, indicating growing interest from the market.

High Open Interest, by itself, signifies strong momentum behind the current market trend. Therefore, if the OI continues to increase, the GOAT’s uptrend will likely persist.

GOAT Price Prediction: Decline Before Rebound

On the 4-hour chart, the GOAT meme coin price has pulled back from $0.88 and is at $0.78. This retracement could be because the meme coin is overbought. For instance, the Bollinger Bands (BB) on the chart shows that the upper line of the indicator has touched GOAT’s price.

While this indicates rising volatility around it, it also indicates that the token has been overbought, as mentioned earlier. Assuming the lower band of the BB touched the price, then it would have been deemed oversold.

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

Considering this outlook, GOAT’s price could decline to $0.70, where the 23.6% nominal pullback sits. However, if Open Interest and volume continue to rise, the price is likely to bounce off the slight retracement. In that instance, it could climb toward $1.