The most recent trading session in the cryptocurrency market has brought mixed results. Even the major cryptocurrencies are showing mixed performances.
Among the major cryptocurrencies are Chainlink (LINK) and Dogecoin (DOGE), where LINK has demonstrated a strong performance while DOGE has plummeted.
It is important to look at the performances of LINK and DOGE to see where they stand in terms of their price movements.
Chainlink Hit a Three-Month High
The early morning trading hours showed that the trading price of LINK reached a higher trading level. The price of LINK reached a three-month high, demonstrating strong performance.
Initially, the price of LINK had come close to hitting a key resistance level. However, the bears increased their selling power in order to pull the asset’s price to a lower level.
The bulls increased their buying power, which helped them push the price of LINK over the key resistance level.
The price chart shows that LINK’s trading price hit a peak during the Thursday session. It reportedly hit a high of $7.75 per LINK.
Prior to the strong push, the trading price of LINK was trading at a low of $6.91 per LINK.
The data shows that since November 8, the asset had hit its strongest point. It was back on November 8 when the trading price of LINK had hit a high of $9.48.
As the rally continued taking place even on Thursday, then the trading price of the asset continued surging. It resulted in pushing the asset’s price beyond $7.55, which is the ceiling level for LINK.
Even the RSI for the asset has moved in the upward direction and things are proving to be bullish. The RSI tracker shows that it has traveled higher from the resistance level of 59.00.
At the time of writing, the RSI for the asset is at 61.58, which means that it is moving in a bullish direction. The value of the asset is moving upstream and the RSI is supporting that.
If the trend continues and the bulls keep on buying more LINK, then the RSI for the asset may move closer and beyond 64.00. This would continue pushing the asset’s price to a higher level.
Dogecoin Dipped by 5%
The trading price of Dogecoin recorded a major pull in today’s trading session. The value of the asset has recorded a downtrend and its value has been pulled by 5%.
The asset has recorded a downward movement and the red wave has caught up to the asset’s trend. It has canceled out its green wave and has pulled the asset to the bearish zone.
As of today, the trading price of DOGE is at a low of $0.08635. The asset hit a low price in the middle of the day.
However, a day earlier, the trading price of DOGE was at a high of $0.09226.
Due to the recent downtrend, the price of DOGE has hit the lowest level since January 30. As the price of DOGE hit a lower level, it ended up falling closer to the floor price.
According to the analysis data, even if the price of the asset continues falling, it may fall closer to the support level. The data shows that the asset may find support at the $0.0850 mark.
The particular support level has remained firm for a long time and it may continue providing support to the investors. They may be able to push the trading price of the asset over a particular level from the support mark.
For now, the RSI for DOGE is at 50.00 and the bulls may try to push it higher. If they keep buying DOGE, then the RSI may get pumped up to 53.00.
The bulls may gain more confidence if they hit a particular level and start pushing the asset’s price higher.