Cryptocurrency investors continue to closely monitor Ethereum (ETH), Chainlink (LINK) and Tezos (XTZ), which are among the moving coins of recent days. Ethereum, which is on the rise with Bitcoin today, has exceeded the $ 420 threshold, LINK has dropped to $ 16.25 for now, and XTZ has been pulled to $ 3.30. So what awaits the investors of these coins? Here is the current analysis from the master name …
Crypto Michael, one of the industry’s leading analysts with more than 70,000 followers, shared his views on ETH, LINK and XTZ charts in this morning’s video. The famous analyst explained the possible scenarios that may occur in the market as a result of his general evaluation of these coins.
Is The Target For ETH $ 500?
Ethereum has gained more than 3% today and is again above $ 420. ETH thus hit the highest level in the last 2 weeks and was above $ 420 for the first time since August 19. Making an overview of Ethereum, Michael; He explained that the ETH price broke the resistances in front of him in a healthy way and that these (such as the $ 395 level) are now acting as support points.
Saying that the rise in the ETH price is a healthy rise, Michael thinks the price may move up for a while. In the meantime, it may be possible to experience possible slackening in the ETH price and to shy away from the $ 405-408 range. But Michael thinks this won’t hurt Ethereum, it could even serve as the ground for a new upswing.
According to the expert analyst’s estimates, if ETH can maintain this level and start climbing again, a progress towards $ 500 can be seen. Referring to Fibonacci levels here, Michael specifically pointed to $ 493. But ETH will first have to break the $ 462 resistance for this.
Chainlink (LINK) Could Not Break The Resistance
Chainlink climbed as high as $ 20 in mid-August and broke its own record. However, the LINK price retreated to $ 15 after that and currently stands at $ 16.25. Whether LINK, with which Zeus Capital waged war, will continue to rise is a matter of great curiosity.
Saying that LINK is trying to find a support point for now, Michael said; He said that LINK does not offer a purchase opportunity, at least for now. According to Michael’s estimates, if the support at $ 15 is not maintained, the price may drop to $ 12. Whereas; Should the LINK price rise again and break the resistance at $ 17, the next target could be $ 19.
What is the general picture for Tezos (XTZ)?
The price of Tezos (XTZ) lost more than 1% in the last 24 hours and fell to $ 3.30. But alarm bells still aren’t ringing for XTZ investors, according to Michael. Stating that the important thing for now is to keep the $ 3-3.20 zone, Michael said; He explained that the XTZ price may relax towards this area.
XTZ, which was traded at $ 2.80 until 1 month ago, has drawn a very good chart in this period. The XTZ price rose as high as $ 4.20 in the past weeks but then began to rapidly depreciate. Michael’s analysis is that XTZ may start testing the $ 3.8 level again if the support levels are maintained.