Forex Analyst Explains Why Chainlink Price Could Surge 80% Higher

Chainlink’s LINK token is amid a “full-blown parabolic advance,” according to forex analyst Cole Garner. The on-chain data investigator mentioned a string of technical and fundamental indicators that hint further gains for the altcoin. The analogy appeared as LINK climbed to its lifetime high against Bitcoin on Wednesday. LINK, an altcoin powering the Chainlink’s decentralized oracle network, is beating its top rival Bitcoin in terms of exchange rates. The twelfth-largest cryptocurrency established its all-time high at 69,415 sats this Wednesday, a move that brought its year-to-date returns up by 182.69…

Chainlink (LINK) Enters “Price Discovery Mode” as Analysts Eye Move to $11

Chainlink (LINK) is once again entering another parabolic uptrend, with this one coming about in tandem with the surge seen across the aggregated crypto market. The cryptocurrency’s intense uptrend has allowed it to set fresh all-time highs and comes as many other tokens also flash signs of strength. LINK now appears to be entering what analysts are describing as a “price discovery” mode that could help lead it significantly higher in the days and weeks ahead. In the near-term, one analyst is noting that Chainlink could hit $7, with an…

Tron (TRX) Price Jumps 5% And Showing Early Signs of A Fresh Rally

Tron price formed a strong support base above $0.0150 against the US Dollar. TRX is currently up over 5% and it seems like the bulls are aiming a larger rally in the near term. Tron price is gaining traction and it is trading nicely above $0.0168 against the US dollar. The price traded to a new weekly high at $0.0177 and it is showing positive signs. There was a break above a connecting bearish trend line with resistance near $0.0168 on the 4-hours chart of the TRX/USD pair (data source…

“No Position Is the Best Position,’ Says Bitcoin Trader as Price Stagnates

From a macro perspective, Bitcoin has basically flatlined. If you’ve followed the cryptocurrency market over the past few weeks, you probably know this. But BTC’s boring price action is a point worth repeating. Just look at the image below shared by a cryptocurrency technician and trader. It shows that the three-day Bitcoin historical volatility index (as per BitMEX market data) is at lows not seen since March/April of 2019. For those that missed the memo, a reminder: Bitcoin traded in a tight consolidation from December 2018 to March 31st, 2019…

Bitcoin’s Current Price Impacted By Miners? It’s Possible, Analytics Company Says

Mike Alfred, co-founder and CEO of data analytics outfit Digital Assets Data, recently pointed toward miners as a potential catalyst for recent Bitcoin (BTC) price activity.  “It is tough to say definitively, but it appears as though the miners’ actions are having a direct, immediate impact on price,” Alfred told Cointelegraph on July 1.  “This is especially evident during outlier events like on the 23rd, where we saw miners offload >300% more BTC than they mined that day,” he added, referencing June 23 activity.  Image courtesy of Digital Assets Data…

Bitcoin Price Rally by 2021 Looks Likely From Five Fundamental Factors

The price of Bitcoin (BTC) has been bouncing in the range between $8,600 and $10,000 for the past two months. BTC has shown little volatility since May, following a critical rejection at $10,440. However, five major fundamental factors still point toward a prolonged uptrend by 2021. According to data from Skew, the 10-day realized volatility of Bitcoin dropped to the lowest level of the year on June 24. This may indicate that traders are cautious because BTC is at a crucial price point. The performance of BTC over the next…

Cardano Price Hits 2020 Top Following Network Upgrade – Will the Rally Sustain?

ADA, the native token of Cardano, established a new 2020 top on Wednesday. The eighth-largest cryptocurrency surged to $0.097 for the first time in 13 months. The latest gains came as a part of a broader uptrend that began in March 2020 but received an additional boost from Cardano’s network upgrade news. Cardano is going to the moon before its top crypto competitor Bitcoin. The blockchain platform’s native asset ADA reached its year-to-date high on Wednesday. As of 2300 UTC, the ADA/USD exchange rate topped at $0.097, its highest since…

S2F Bitcoin Price Prediction Model as Accurate as Astrology, Says Exec

Prominent members of the crypto community continue to express skepticism over the stock-to-flow (S2F) chart, a Bitcoin (BTC) price prediction model recently revised by analyst PlanB.  Nico Cordeiro, CIO at crypto quant fund Strix Leviathan, called S2F a “chameleon,” a term from Stanford professor Paul Pleifderer describing models built upon dubious assumptions.  “The model’s accuracy will likely be about as successful at forecasting Bitcoin’s future price as the astrological models of the past were at predicting financial outcomes,” Cordeiro said. Revisions to past models Cointelegraph reported on June 1 that…