Crypto Market Watch: BCH and XRP retains a relatively stagnant position as LINK tests $14

In Brief:

  • BCH found support around $309 after crossing the $305 level, and may look to break the $310 level soon.
  • XRP struggles to keep its head above the water, after failing the price test at the $0.3 level.
  • ChainLink takes the lead in crypto markets with 100℅ within a week.

As oracle tokens take over crypto markets, much attention has been shifted towards the oracle tokens in terms of substantial business propositions. 

ChainLink continues to take the lead among a good number of other altcoins, as it secures the identity of the top gaining cryptocurrency of the last two months.

Contrastingly, XRP which has been gaining valiantly in the last 3 weeks, appears to fail the price test at the $0.3 level, as it retreats to $0.29. This top altcoin is noticeably struggling to keep up as an effect of this little withdrawal.

On another hand, Bitcoin Cash overcomes the $305 level without much difficulty, and finds support around $309.

However, BCH and XRP seem to be on a gaining break when compared to the gains incurred by LINK. Bitcoin Cash is a major competition for Ethereum which has already made appealing gains along with other significant altcoins.

1. ChainLink (LINK 7.2%Gain)

On the list of today’s record of gainers is ChainLink. The top coin is still reporting more gains, even after having accomplished more than a 50% gain within the last week.

ChainLink is up by around 120% within the last month and over 500% in the last year. The controversial coin looks positive in the daily timeframe.

Price may act exceptionally bullish in the short term, as a considerable multitude of traders are bullish on LINK.

Technical Indicators

Next key resistance level is at $15

Next key support level is at $13.5

Prices may drive down in a likely correction, as RSI reached the 70.0 overbought conditions.

LINK is presently trading at $13.96 and its market cap is varying around $4.0 billion

2. Bitcoin Cash (BCH less than 1% Gain)

Bitcoin Cash maintains the second position on the list with a gaining record of less than 1%. 

In the last year, BCH has been down 2.7%, whilst the one month timeframe looks bullish at 28.4%. The coin gained around 23.6% within the last 2 weeks.

Presently, BCH is trading at $269.02 with additional upside evident in the short term.

Technical Indicators

Prices are almost above the top of the Bollinger Band Indicators. This demonstrates a bullish ride further, which may support price at the $310 level.

The Resistance Strength Index (RSI) is steady at the 60.0 level. RSI may speed further up in the short term as it approaches the overbought condition.

  • RSI is approaching 70.0
  • BCH/USD now trades above the Bollinger Band top which implies a bullish move.
  • Next major resistance level is at $310.
  • Next major support level is at $305.

3. Ripple’s XRP (XRP 1.43% Gain)

Ripple’s XRP seems to have taken a slight leap on the list of top gainers with an upward trend of 1.43%

With around 0.1% gain, XRP’s chart peaks in the one-year timeframe. Although the coin is up through 50% in the one-month timeframe, it incurred more gains within the last two weeks, at around 40%.

XRP has gained an enormous community that has consistently stayed positive about the coin, with about 62% bullish votes for the continuous trading day.

XRP is currently trading at $0.296 and its market cap continues to grow towards $10 billion.

Technical Indicators 

  • Prices failed resistance at $0.3, and will look to retest the area shortly. 
  • RSI fell below the oversold condition at 30.0
  • XRP trends above the midline of the Bollinger indicator. 

Disclaimer: The views and opinion provided in this article is for educational purposes. It’s neither financial advice nor a recommendation from Decentralize Africa. References made to any cryptocurrency or upcoming events does not constitute an endorsement or recommendation.

The cryptocurrency market is suspectible to high volatility, ensure you do your own research or consult a financial advisor before you invest your money.

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