Can any of the altcoins outperform the top 3 cryptocurrencies right now? When we examine CoinMarketCap, only TRON (TRX) and UNUS SED LEO (LEO), among the crypto currencies that are currently in the top 20, are in the red zone. All other cryptocurrencies are back in the green zone. In fact, TRON was in the green zone yesterday, but today it started to decline. Today, we will share the analysis of cryptocurrencies that have been spoken frequently recently.
LINK / USD
Chainlink (LINK) is one of the most frequently followed cryptocurrencies on the list. As it is known, LINK made its investors happy by approaching up to $ 20, but then saw a sudden decline. Altcoin price has increased by 7.63% in the last 24 hours. On the daily chart, Chainlink (LINK) is about to retest the local resistance level at $ 13.40 before the decline continues, according to analyst Denys Serhiichuk.
The trading volume is still low, which means there is no chance for the bulls to reverse and return the altcoin rate to the local peak at almost $ 20. Chainlink was trading at $ 12.81 at the time of writing.
DOT / USD
The rate of Polkadot (DOT) has also increased significantly over the past day. The coin has increased by almost 10% since yesterday, while its price has dropped by 24% compared to last week. Technically speaking, Polkadot (DOT) trades similarly to Chainlink (LINK), as short-term growth is also the most likely price action, analyst said.
Although there is a high concentration of liquidity above, the purchase transaction volumes are not enough to update the peaks reached previously. In this case, Polkadot (DOT) could make a false break at the $ 4.95 mark and then experience a steady decline. Polkadot was trading at $ 4.68 at the time of writing.
ADA / USD
Cardano (ADA) is one of the winning cryptocurrencies on our list. Altcoin’s price has increased by about 6% since yesterday. On the 4H chart, the altcoin is trending upwards. However, the purchase volume is too low for a steady rise. Therefore, traders can expect short-term growth to be $ 0.0972 before further declines occur. Cardano was trading at $ 0.095 at the time of writing.
TRX / USD
The TRON (TRX) rate, which rose after the successive announcements of Justin Sun, was still in the green zone for a few days. However, in the last 24 hours, the cryptocurrency has dropped by 3%.
According to analyst Serhiichuk, TRON’s (TRX) short-term growth has ended. The coin could not be fixed above the $ 0.035 resistance, which means the bulls are not strong enough for a reversal. In this case, the continued decline towards support of $ 0.032 can be considered as the main scenario. TRON was trading at $ 0.034 at the time of writing.