LINK's price is nearing an ascending triangle breakout scenario in December with bullish on-chain indicators strengthening the upside case.
Tech Analysis News
Technical analysis, often abbreviated as TA, is a method used in the cryptocurrency market to evaluate and predict price movements based on historical market data. Cryptocurrency traders utilize a range of technical analysis tools and techniques to make well-informed decisions. It mostly focuses on analyzing price charts and finding patterns and trends by using statistical measures. Moving averages, support and resistance levels, the relative strength index and Bollinger Bands are frequently used tools in technical analysis.
Technical analysts believe that historical price movements tend to repeat themselves, and certain patterns can indicate future market direction. For instance, a head-and-shoulders pattern might suggest an upcoming trend reversal. Traders also use chart patterns like flags, triangles and double tops to anticipate market movements. Moreover, indicators like the moving average convergence divergence help gauge the strength of a trend.
However, it’s essential to note that technical analysis is not foolproof and should be used in conjunction with other methods.
A paper published in the science journal Nature says the AI developed by DeepMind underwent training using data sourced from the Materials Project, an international research consortium established at the Lawrence Berkeley National Laboratory in 2011.3782
Dogecoin is down today primarily due to technical factors as DOGE price now risks a deeper correction by as much as 70%.5463
XRP may need to undergo a short sell-off period before confirming the upside continuation setup as whales demonstrate bullishness.12483
XRP has entered a strong correction cycle after testing a multiyear resistance trendline. Is the bull market on pause for now?10371
Ethereum price is up today as excitement over a potential spot ETH ETF and the price holding above the key $2,000 level motivates traders.40763
Bitcoin has more than doubled in price since the FTX collapse in November 2022, but several other coins, such as Chainlink, have seen even bigger gains since.7393
A BlackRock ETF rumor prompted a big pump-and-dump in the XRP market, which may result in a 20% correction over the next few weeks.49663
TON’s price risks a correction in the short term as it nears a confluence of historically strong resistance zones.2526
Cardano price continues its rebound move in November, with ADA whales supporting the rally, on-chain data suggests.20642
Hayes may face short-term losses on his Solana buy-in, but the long-term upside looks promising as the cryptocurrency market recovers.19145
FLOKI’s gains coincide with the launch of its tokenization platform, TokenFi, but is the rally sustainable?5071
The Ordinals and Taproot Assets protocols are enabling new possibilities for Bitcoin — such as on-chain articles and stablecoins on the Bitcoin blockchain.16477
Historic price fractal, strong technicals and Bitcoin ETF approval euphoria could keep BTC prices elevated for the rest of 2023.16041
Bitcoin ETF and halving buzz have boosted BTC’s demand vs. Ethereum in recent weeks.6974