Cryptocurrencies Price Prediction: Cardano, Tezos, Chainlink — Asian Wrap 29 June


Cardano Price Prediction: ADA anticipates bullish breakout

Cardano price has been on a downtrend since June 3 without any substantial higher highs, suggesting that the bears are plaguing the markets. As ADA trades inside a tight range, it consolidates between two converging trend lines and anticipates a massive breakout.

Cardano price was trading above the 50% Fibonacci retracement level at $1.47 until mid-June. However, this changed as ADA slid below it on June 18. Since then, the Cardano price action has been in the form of lower highs and higher lows, indicating a tightening of the range.

ADA/USDT 4-hour chart

Tezos Price Forecast: XTZ boasts solid support, pursues higher prices

Tezos price is attempting to rebound from the second test of the May low in five days, but the bid has not been overwhelming, reflecting a tentativeness to engage XTZ while altcoins remain trendless. However, if a strong volume profile reinforces price strength, the digital token has the support to rally almost 30% from price at the time of writing.

Tezos price fell 75% from the May 7 high of $8.41 to the May 23 low of $2.42, matching the average decline for the altcoins. Interestingly, XTZ did not trigger an oversold reading on the daily Relative Strength Index (RSI), and it did not reach an oversold condition during last week’s test of the May low.

XTZ/USD daily chart

Chainlink Price Analysis: LINK in a balancing act as chart and on-chain metric diverge

Chainlink price successfully holds the May 23 low but does not register an oversold reading or generate substantive investor interest, thereby raising some doubt about the end of the correction. LINK faces notable overhead resistance moving forward, lending some credibility to the cautious outlook in this post.

Chainlink price declined just over 70% from the May 10 high of $52.99 to the May 23 low of $15.00, placing it around the average for cryptocurrency corrections. 

LINK/USD daily chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP