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DOT, TRX, LINK Price Analysis—Are the Coins Ready to Bounce Off the Support Levels?

Which coin out of Polkadot (DOT), Tron (TRX) and Chainlink (LINK) can grow against the upcoming market correction?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

A bullish mood has been combined with a bearish one as neither bulls nor bears are dominating the market at the moment. Polkadot (DOT) is the main loser from our list, falling by 4.73% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The main information for Polkadot (DOT), Tron (TRX) and Chainlink (LINK) today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Polkadot 

DOT

$4,153,251,627 $4.87 $692,519,602 -4.73%

Tron

TRX

$1,979,635,668 $0.027626 $3,011,846,766 -2.77%

Chainlink

LINK

$3,613,239,564 $10.32 $970,686,264 1.70%

DOT/USD

Polkadot (DOT) is the top loser from our list, as well as the top loser among the Top 10 cryptocurrencies. The price of the coin has gone down by almost 5 percent over the previous 24 hours.

DOT/USD chart by TradingView
DOT/USD chart by TradingView

On the 4H chart, Polkadot (DOT) keeps falling within the descending channel. The selling volume keeps increasing; however, the coin has almost reached the verge of the oversold area based on the RSI indicator.

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👉 MUST READ Chainlink (LINK), Polkadot (DOT) Price Analysis—Have Bulls Held Support Before Possible Growth?related article image

In this case, one may expect a false breakout of the support at $4.66 where most of the liquidity is focused.

Polkadot (DOT) is trading at $4.85 at press time.

TRX/USD

Tron (TRX) is another loser from our list. Its rate has declined by 2.77 percent since yesterday, while the price change over the last week has made up -14.57 percent.

TRX/USD chart by TradingView
TRX/USD chart by TradingView

The decline of Tron (TRX) is about to continue even though the rate of the coin is already located in the bearish zone. Liquidity is still low, which means that buyers are not ready to buy at the current prices. On the 4H time frame, the triangle figure is being formed with the endpoint at $0.022. If bulls do not hold this mark, the drop may continue to $0.017.

TRX is trading at $0.027 at press time.

LINK/USD

Chainlink (LINK) is an exception to the rule as it is the only coin from our list that is in the green zone. It has added 1.70 percent to its price share over the last day.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

Chainlink (LINK) may not have finished its short-term growth yet, as bulls have found support at the crucial $10 mark. However, the rise is not going to last long as the volume is low and the trend reversal has not started yet. For this reason, growth may continue to the $11.53 mark, followed by a decline to $7.70.

LINK is trading at $10.27 at press time.

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com