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ETH, LINK and BNB Price Analysis for December 28

How long is the rise of altcoins going to last while Bitcoin (BTC) is trading sideways?

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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.

The cryptocurrency market remains in the bullish zone; however, this applies mostly to altcoins while Bitcoin (BTC) is trading sideways.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The main data for Ethereum (ETH), Chainlink (LINK) and Binance Coin (BNB) today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Ethereum 

ETH

$82,420,952,450 $723.94 $28,835,983,763 13.76%

Chainlink

LINK

$4,898,180,983 $12.24 $2,404,710,343 15.27%

Binance Coin

BNB

$5,064,702,601 $35.09 $650,952,328 7.83%

ETH/USD

Before the end of last week, buyers were able to form a powerful bullish impulse and, on Sunday, the Ethereum (ETH) price broke through the resistance of $700, renewing the annual maximum around $715.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

By the end of the day, the trading volume had decreased and the price had rolled back below the $680 mark. At night, however, buyers tried to restore the pair, returning it to the high zone by morning, having tested the $717 level.

If the bulls are able to continue the rise, they will test the upper boundary of the ascending channel; if sellers try to seize the initiative, they will push the ETH price back to the area of ​​the four-hour moving average EMA55.

Ethereum is trading at $719.46 at press time.

LINK/USD

Chainlink (LINK) is the top gainer today from our list. The rate of the altcoin has rocketed by 15.27% over the last day.

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

Even though the rate of Chainlink (LINK) has significantly risen over the last day, it has not entered a long-term bullish trend. At the moment, bulls are fighting for the $12.55 mark.

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The ongoing rise is supported by an increasing trading volume, which means that bulls have power for a move to the resistance of $16.42.

Chainlink is trading at $12.30 at press time.

BNB/USD

Binance Coin (BNB) gained the least today as the rate of the native exchange token has gone up by 7.83% since yesterday.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

From the technical point of view, Binance Coin (BNB) needs to gain more power for growth as bulls have not accumulated enough yet. As the more likely scenario, the altcoin may locate in the range of $34.50-$36.60 for some time before it breaks $36.80.

Binance Coin is trading at $35.27 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