Chainlink, Monero, Dogecoin Price Analysis: 10 January – AMBCrypto NewsJanuary 10, 2021
After touching $18, LINK cooled down as the bears attempted to take prices towards its immediate support. XMR gave mixed signals and its movement could depend on market leader Bitcoin moving forward while DOGE continued its consolidation between $0.011 and $0.008.
At press time Bitcoin had fallen below the $40k level and was trading with a 24-hour volume of $43.5 billion.
A bullish rally over the past couple of days saw LINK hit a local high at $18.5, which was not too far away from its all-time high of $19.17. However, the price took a u-turn in the last trading session as sellers targeted a fall below $16.31 support. This pivotal support level could determine whether LINK can manage to sustain the upward movement witnessed on the charts in the past 48 hours. For now, the indicators suggest that momentum rests with the sellers and a move below the $16.31 mark could be possible unless a broader market rally manages to lift the price.
The MACD was on the cusp of a bearish crossover as the signal line was looking to catch up to the fast-moving line. If a crossover is witnessed, support at $16.31 could be threatened.
The On Balance Volume was hitting lower highs, a sign that selling pressure could drive prices lower in the short term.