LINK, DOT, ADA and TRX price analysis for September 9
Can any of the altcoins outperform the Top 3 cryptocurrencies?
Most of the coins have come back to the green zone except for Bitcoin (BSV). It is the only crypto from the Top 10 list that is suffering from a bearish mood.
The key data for Chainlink (LINK), Polkadot (DOT), Cardano (ADA) and TRON (TRX) today:
|
Name |
Ticker |
Market Cap |
Price |
Volume (24h) |
Change (24h) |
|
Chainlink |
LINK | $4,283,752,923 | $12.24 | $1,402,595,288 | 5.63% |
|
Polkadot |
DOT | $3,770,358,803 | $4.42 | $493,151,049 | 3.90% |
|
Cardano |
ADA | $2,396,926,012 | $0.092449 | $774,823,754 | 1.77% |
|
TRON |
TRX | $2,441,151,128 | $0.034066 | $3,023,173,511 | 2.92% |
Chainlink (LINK) is the top gainer from our list. The price of the altcoin has risen by 5.63% over the previous 24 hours.
LINK/USD chart by TradingView
On the daily chart, Chainlink (LINK) is about to make a retest of the local resistance level at $13.40 before a drop continues. The trading volume is still low, which means that bulls have no chances of making a reversal and returning the rate of the altcoin to the local peak at almost $20.
Chainlink is trading at $12.35 at press time.
DOT/USD
The rate of Polkadot (DOT) has also significantly increased over the last day. The coin has gained almost 4% since yesterday, while the price over the last week has declined -26.11%.
DOT/USD chart by TradingView
From a technical point of view, Polkadot (DOT) is trading similarly to Chainlink (LINK) as short-term growth is also the most likely price action.
Although there is a high concentration of liquidity above, the buying trading volumes are not enough to update the previously reached peaks. In this case, Polkadot (DOT) can make a false breakout of the $4.95 mark, followed by a continued drop.
Polkadot is trading at $4.46 at press time.
ADA/USD
Cardano (ADA) is gaining the least from our list. The price of the altcoin has increased by only 1.77% since yesterday.
ADA/USD chart by TradingView
Cardano (ADA) is not an exception to the rule. On the 4H chart, the altcoin is forming a bullish divergence. However, the buying volume is too low for a continued rise. For this reason, traders may expect short-term growth to $0.0972 before a further drop continues.
Cardano is trading at $0.093 at press time.
TRX/USD
The rate of TRON (TRX) has increased by 2.92% since yesterday, while the decline over the last week has made up 9.50%.
TRX/USD chart by TradingView
Although TRON (TRX) is located in the green zone, it short-term growth has come to an end. The coin failed to fix above the resistance at $0.035, which means that bulls are not strong enough for a reversal. In this case, the continued decline to the support at $0.032 can be considered the main scenario.
TRON is trading at $0.034 at press time.
Read full original article on U.Today
Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
