3 Top Altcoins That Defy The Market Retracement- REEF, LINK, VET
- LINK’s price holds strong as price eyes a rally to $12 after breaking out of its long-range accumulation zone.
- REEF’s price continues to trend above key support as price broke out of its downtrend with eyes set for $0.01.
- VET’s price remains strong, holding key support on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA).
Previous weeks saw the price of most altcoins trend higher this has put these 3 top altcoins in the spotlight, considering how the crypto market has been fairing after the market saw its price decline with the price of Bitcoin (BTC) and Ethereum (ETH) not looking too good as the week has continued to look unprecedented with the current market looking choked with the current issue between Binance and FTX creating a fear of uncertainty and doubt for most traders and investors. (Data from Binance)
3 Top Altcoins – Chainlink (LINK) Price Analysis On The Daily Chart
The previous week saw many altcoins produced over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope is returning to the crypto space.
The new week hasn’t kicked in like the last as most altcoins have begun to look shaky, dropping off from their weekly highs, including the price of Ethereum (ETH) and Bitcoin (BTC) suffering a minor price retracement back to a region of $1,540 and $19,600 respectively. Still, the price of LINK has continued to show strength after breaking out successfully from its downtrend. With the current outlook of LINK, the price of LINK could rally to a region of $12 as things have continued to look strong for LINK’s price.
After having a weekly close above $8, the price of LINK has looked more decent, as the price aims to create more bullish signs that have attracted so much attention in the past few days.
Weekly resistance for the price of LINK – $9.2.
Weekly support for the price of LINK – $8.
Price Analysis Of REEF Protocol On The Daily (1D) Chart
The REEF price remains strong in the daily timeframe as it holds above its critical support at $0.0055, rallying from its daily downtrend and breaking above with good volume.
REEF’s price needs to hold above its $0.005 value, which corresponds to the 50 EMA holding the price of REEF from sell-off, considering how uncertain the market has become of late.
The price of REEF trades at $0.0055 after rejection from a daily high of $0.006 as the price tried to break above this region.
Daily resistance for the REEF price – $0.0065.
Daily support for the REEF price – $0.0051.
3 Top Altcoins- Price Analysis Of Vechain (VET) On The Daily (1D) Chart
The VET price remains strong in the daily timeframe as it holds above its critical support at $0.025 after rallying from a daily low of $0.02, but the price faced resistance to breaking higher in price to a region of $0.03.
The price of VET needs to hold above $0.025 to have more chances of trending higher to a region of $0.03.
Featured Image From zipmex, Charts From TradingviewRead more: https://www.newsbtc.com/analysis/3-top-altcoins-that-defy-the-market-retracement-reef-link-vet/
Text source: NewsBTC
