Link of the chain it was trading in a region of strong support and was about to explode. the correlation between LINK and BTC has been falling and the asset could start another rise regardless of the direction of Bitcoin. At press time, Bitcoin was trading at $ 11,335 with a 24-hour trading volume of $ 104.7 billion.
Chain link (LINK)
LINK has been falling towards the support at $ 10.4 for the past few days, even though $ 11 was also a strong support zone. A close below $ 10.4 could lead LINK lower.
However, in the OBV we see that the volume of purchases in recent weeks has had an upward trend. If buyer interest pushes the OBV beyond the flat upper trend line, it would indicate that the asset had enough buyer interest to start another stage up.
If sellers were to gain the upper hand, the OBV would start to set lower highs and trending down, indicating that LINK could also be set to drop in value.
The steady drop in trading volume (yellow) in recent days showed that the market could be in the process of deciding the next direction for LINK.
Stellar Lumens (XLM)
Almost 24 hours before press time, XLM started a 15% rally and found resistance at $ 0.082. Both the RSI and the Stochastic RSI indicated overbought, although this does not require a decline.
XLM could continue to move up past resistance before a pullback to retest the reversed level, or it could suffer a rejection at resistance to record a drop to $ 0.078.
It is never a good idea to try to call the exact stop of a move. A couple of days ago, Stellar made the news due to the ad that USD Coin would be available on the Stellar blockchain from Q1 2021.
DigiByte has been setting lower highs since late September, and the outlook was unchanged for the asset when it approached support at $ 0.022.
The OBV showed that in recent weeks there has been a constant volume of sale of the asset in the market. The 20 SMA (white) also moved below the 50 SMA (yellow) showing the short-term bearish movement of the currency. The Parabolic SAR also indicated a sell signal.
This is a machine translation of our English version.
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