Crypto Market Update: Blockstack (STX), Chainlink (LINK), and Cardano (ADA)

BTC has breached the price of $23,000 and has now retreated to $22,700. BTC has reached the market cap of $400 billion.

Once the rally of BTC cools down, the profits made by this rally in BTC are expected to move into altcoins. A good time to enter into altcoins would be after the dominance of BTC starts reducing.

Today, we will review the price predictions for some altcoins like Blockstack (STX), Cardano (ADA), and  Chainlink (LINK).



STX is showing bullish signs after breaking out of consolidation around $0.2435. If it manages to stay above the 0.618 fib at $0.2950, we can see a move towards $0.3216, $0.3554, and $0.4531. Failure to hold the support of $0.2950 could lead to a drop in STX price towards $0.2764, $0.2577, and the final support at $0.2435.



ADA broke out of the resistance at $0.1528, came back to test it, consolidated, and is now looking good for a break above after bouncing from the 0.236 fib at $0.1528. If ADA manages to stay above $0.1641, we could see a move towards $0.1747, $0.1852, $0.2003, and $0.2195. Failure to hold above $0.1641 could lead to a drop in ADA price towards $0.1510 and possible wicks towards $0.1300. A drop towards $0.1300 could be a good leverage entry position for longing ADA.



LINK got rejected from the resistance zone at $14.99. It has a good support at $13.71, which would be a good entry point for LINK with targets of $14.99, $16.04, and $16.96. Failure to hold the support of $13.71 could lead to a drop in LINK price towards $12.77 and $12.02.

Images courtesy of TradingView.

The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.


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