Chainlink (LINK) Could Shape Bitcoin ETF Success, Litecoin’s (LTC) Market Twist Shocks Investors – Get the Scoop!



The global cryptocurrency market cap experiences a marginal increase today, reaching approximately $2.5 trillion. Bitcoin is currently consolidating near the $66,000 mark, with traders closely watching its potential to challenge the $69,000 threshold in the coming days. This follows its recent all-time high of $69,170 on March 5, before experiencing a brief drop to near $60,000 the next day.

Additionally, Ethereum is not left behind, crossing the $3,800 mark, and currently aiming for the $4,100 resistance level. In the broader altcoin market, Chainlink (LINK) and Litecoin (LTC) are navigating the market with different trajectories, with LINK focusing on recovering its seven-day losses and LTC maintaining its momentum. Over the last 24 hours, Chainlink (LINK) was resilient, posting minor gains, while Litecoin (LTC) mirrored Ethereum’s slight decline but ended the previous week on a positive note. However, amid these major movements, there’s an undercurrent of anticipation, particularly with the coming US NFP data, which could dictate the market’s next direction.

As the crypto market remains in a cautiously optimistic state, the entry of projects like ScapesMania (MANIA) adds an element of suspense, leaving investors and traders eagerly awaiting what’s next. Although its presale stage has concluded, the anticipation for MANIA’s impending Token Generation Event and DEX listing is palpable.

Ride The Wave of Innovation with ScapesMania

The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token’s value might increase exponentially in the future.

The spotlight has shifted to the upcoming PancakeSwap listing. The date was already announced in a recent AMA with the CEO, so don’t miss out! 

The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away.

Your Last Chance to Boost Potential Returns Post Listing

The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry.

Moreover, the token’s utility is impressive. It’s not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market’s growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential. 

The community’s excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania’s transition from niche to mainstream.

ScapesMania’s smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works.

ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth.

Make sure you don’t pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative.

>>> LISTING ALERT – Keep Up With Latest News <<<

Chainlink (LINK): ETF Security to Market Resilience

In recent times, Chainlink (LINK) was navigating a challenging period in the crypto market. The latest data indicated that LINK had experienced a downtrend over the past week, with its price oscillating between $18.02 and $20.31, culminating in a near 2% decline.

Despite this negative trend, there was a shimmer of optimism on the horizon, buoyed by the announcement from Johann Eid, Chief Business Officer at Chainlink Labs. He endorsed Chainlink’s (LINK) Proof of Reserve as a tool for enhancing the security and transparency of the ARK 21Shares Bitcoin ETF. As per Eid, this integration strengthened the confidence of both institutions and individual market participants in the realm of on-chain finance.

Chainlink (LINK) Technical Analysis

From a technical standpoint, Chainlink’s (LINK) is currently positioned between support level at $18.53 and resistance level at $22.11.

Source: TradingView

The Exponential Moving Averages (EMA) for 10, 50 and 200 days hover around $19.83, $19.86 and $18.92, respectively, indicating a tight consolidation range.

The Commodity Channel Index (CCI) and the MACD Level further reinforce this consolidation phase, with LINK’s Momentum displaying a slight upward trajectory at 2.208.

The Relative Strength Index (RSI) sits at 50.78, suggesting that LINK is neither overbought nor oversold, while the Stochastic %K points to increasing momentum.

But the relatively low Average Directional Index (ADX) of 18.75 indicates a lack of strong trend direction.

Chainlink (LINK) Price Prediction

In the bullish scenario, supported by Eid’s optimistic remarks on Chainlink’s utility in the ARK 21Shares Bitcoin ETF, a surge in institutional confidence could drive the price towards its immediate resistance level at $22.11, and potentially to $23.70. A continued positive sentiment and uptake in on-chain finance applications could even see Chainlink (LINK) test the $27.27 resistance.

Conversely, in the bearish scenario, if market sentiment falters or broader market trends weigh heavily, LINK could retrace towards its lower support levels, potentially revisiting $16.55 or even $12.97. The pivotal point will be how the market reacts to Chainlink’s (LINK) role in the ETF and the overall crypto market conditions in the coming period.

Litecoin (LTC): The Push-Pull of Market Forces

Litecoin’s (LTC) daily trading volume jumped from $391 million on February 20 to $1.3 billion on March 5, marking an astonishing 232.48% increase. This surge coincided with LTC’s price movement, which saw a rise to $94 and then a retraction to $85.16. However, the real intrigue lies in whether this is the beginning of sustained growth or just a momentary peak before a possible correction. Historical data shows that the last time Litecoin’s (LTC) daily trading volume exceeded $1 billion, the price experienced a significant 40% drop in the following month.

Additionally, the LTC transaction count remained relatively stable, around 230,000 transactions daily. Juxtaposed with the price growth in early March, this stability raised questions about the underlying factors driving Litecoin’s (LTC) current market behavior.

Litecoin (LTC) Technical Analysis

From a technical analysis standpoint, LTC is currently oscillating between its first support at $74.95 and the first resistance at $100.72.

Source: TradingView

The EMAs indicate a close contest between the bulls and bears, with the 10-day EMA at $85.15 slightly above the 50-day at $84.2 and the 200-day EMA at $76.18 trailing.

The RSI at 49.53 suggests that Litecoin (LTC) is neither overbought nor oversold.

The ADX at a moderate 26.01 shows a lack of strong trend, and the CCI at -19.73 also confirms this neutrality.

However, the Stochastic %K at 66.23 is leaning towards overbought territory, indicating potential for a pullback

Furthermore, the slightly negative MACD at -0.52 and positive Momentum at 7.96 hint at an indecisive market.

Litecoin (LTC) Price Prediction

From a bullish perspective, the growing number of both mid-tier whales and larger whales is a strong signal of investor confidence. This accumulation, along with the fact that LTC’s price is still 79% below its all-time high, suggests a potential for significant upward movement. If this bullish trend continues, breaking past $100.72 could lead Litecoin (LTC) towards its second resistance at $110.69, and potentially even to the third resistance at $136.46.

Conversely, the bearish scenario hinges on the stability in transaction numbers and address counts during recent price movements. LTC’s recent price surge may be more reflective of broader market trends rather than specific to Litecoin’s fundamentals. If this is the case, and the market corrects after the recent rally, we could see LTC’s price retesting $74.95. A breach below this level could push the price towards the second support at $59.15, and in a more extended bearish scenario, down to the third support at $33.38.

Final Thoughts

In today’s crypto market, Chainlink (LINK) and Litecoin (LTC) experienced distinct market trajectories. While undergoing a challenging period, Chainlink (LINK) stayed resilient with its involvement in enhancing the security and transparency of the ARK 21Shares Bitcoin ETF, a development that could bolster investor confidence in LINK. Whereas, Litecoin’s (LTC) recent surge in trading volume and price movements could affect LTC’s future trajectory. Both Chainlink (LINK) and Litecoin (LTC) demonstrated unique patterns amidst the broader market’s fluctuations, so investors have to stay alert and adaptable before making any financial decisions.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.



Source link

About The Author

Scroll to Top