Cryptocurrencies Price Prediction: Nvidia, Chainlink & Avalanche – European Wrap 20 November
|Week Ahead: AI and Nvidia are this week’s focus
In addition to the Sam Altman controversy, the graphic card manufacturer NVIDIA’s earnings are set to be released on Tuesday, which has added a tailwind to these tokens.
The crypto markets are likely to move freely this week due to the lack of major macroeconomic events.
Chainlink is unfolding a five-wave bullish impulse
As we have been warning about bullish Crypto market in the past weeks, even ChainLink with ticker LINKUSD remains in strong recovery mode and it's ideally still unfolding a five-wave impulse away from the lows. With broken important channel resistance line and 13 bullish confirmation level, seems like it's trading now in wave (3) with room for more gains towards 20 – 25 area, just watch out on the higher degree wave (4) corrective slow down before a continuation higher.
Avalanche price faces selling pressure from $213 million AVAX unlock
Avalanche (AVAX) Layer 1 blockchain token is down 2% on the day. With the upcoming event, 9.54 million AVAX token unlock, the Layer 1 token’s circulating supply is set to increase, contributing to the rising selling pressure on the asset.
Based on data from token.unlocks.app, Avalanche has an upcoming token unlock event on November 24, Friday. AVAX tokens, worth around $213.35 million are set to be unlocked. 9.54 million AVAX tokens represent 2.68% of the Layer 1 token’s circulating supply.
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