In the past few months, the crypto market has experienced extreme volatility, as some coins have surged significantly while others struggle to stay afloat. One such notable gainer that has attracted both traders’ and investors’ attention is AI Token Algotech (ALGT) which soared an impressive 400% over the last quarter. Notably, this incredible surge happens at a time when most leading digital currencies, such as Chainlink (LINK) and Polkadot (DOT), have seen their value dwindle, prompting some people to exit for better prospects within the crypto landscape.
Chainlink (LINK) Faces Bearish Signals
Chainlink (LINK), a decentralized oracle network that bridges the gap between smart contracts and real-world data, has been on a tumultuous journey. While Chainlink (LINK) price exhibits bearish signals, the broader market cues and investors’ behavior suggest a different route may be on the horizon. Over the past month, LINK’s price has been trading below the $15 mark, with its recent attempt to breach the $14.5 resistance level failing to gain traction. Currently, Chainlink (LINK) is trading at $13.90, down 2% in the last 24 hours and a staggering 23.51% over the past 30 days.
While a dip in LINK’s price may be expected in the coming days, analysts predict a potential 17% increase if the altcoin can bounce back from the support level of $14, reclaiming the crucial $15 mark. However, if LINK’s price falls through this support level, the bullish thesis could be invalidated, potentially leading to a more significant drawdown.
Polkadot (DOT) Oscillates between $6.4 and $7.4
Polkadot (DOT), a blockchain protocol designed for cross-chain communication and interoperability, has been caught in a consolidation phase. Following a bounce from the lower boundary of its current price range at $6.4, Polkadot experienced a surge, reaching the upper threshold of $7.4, a significant resistance area. This prompted a slight rejection, with analysts anticipating the price to target the lower part of the range once again.
On the daily chart, Polkadot’s price has been oscillating between the notable support level of $6.4 and the crucial resistance at $7.4, leaving the market uncertain about its future direction. While the recent upswing from the lower boundary provided a bullish impetus, the momentum waned upon reaching the upper boundary, coinciding with the critical 200-day moving average. Analyzing the 4-hour timeframe, Polkadot’s price has been confined within a decisive range, with support near the pivotal $6 level and resistance around the $7.8 threshold.
Algotech (ALGT) Emerges as a New Contender
In the midst of the price unpredictability of established cryptos like Chainlink and Polkadot, Algotech (ALGT), a new player, has been shaking things up. In just three months, the native token of Algotech platform an algorithmic decentralized crypto trading platform has surged considerably. This outstanding performance has attracted the attention of investors who are ditching their losses in LINK and DOT for better opportunities in AI as well as cryptocurrency trading which are growing at an unprecedented rate.
The ongoing Algotech presale, having already raised over $4.5 million, accounts for the rapid rise of ALGT. People are now buying their share of the digital assets before their value escalates further, owing to the fact that the preliminary sale is now in its third phase, and the price per token will soon rise from $0.08 to $0.10.
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