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ChainLink (LINK), Polkadot (DOT), and Bitcoin Cash (BCH) Price Analysis October 2020

ChainLink, Polkadot, and Bitcoin Cash Price Analysis October 2020

Chainlink (LINK)

Chainlink has been making noise in the past few days. In a published report, Chainlink (LINK) continues to regain its composure to bounce back to its bullish side. One contributing factor in the recovery of the crypto is the growing ecosystem of the DeFi space.

How does this affect the price of the crypto today? Let us find out.

Source: LINK/USDT
Source: LINK/USDT

Based on the chart above, Chainlink (LINK) price has been doing well compared to its performance last week. Currently, the crypto opened up above ALMA with a trading price of $9.90, which is a 39.58% price increase since September 24. On the other hand,  the moving average convergence/divergence (MACD) is also pointing towards an uptrend position, which is a bullish sign.

Meanwhile, the relative strength index (RSI) of LINK remains to be in a good phase. The bulls must take advantage of the situation to invite more investors inside its platform to help them in their bullish journey towards the price of $12.

Polkadot (DOT)

Polkadot continues to maintain its uptrend signal in the past seven days. One reason to consider is the growing number of investors that trust the platform. According to a report, RockX investment firm created a project that invites investors to support the Polkadot platform.

Would this have an effect on the price of the crypto today? Let’s check it out.

Source: Polkadot/USDT
Source: Polkadot/USDT

Polkadot/USDT has shown a great start of the day, with an opening price of $4.33. It is also seen that the crypto’s price is traded above the Arnaud Legoux Moving Averages (ALMA). If this continues, the price of Polkadot/USDT can be seen to run along with the bulls in breaking out the resistance first level of $4.62.

The crypto must keep up with the bulls running stamina to prevent the bulls from turning against Polkadot (DOT). If the crypto fails to maintain its relationship with the bulls, the crypto might break out its current standing. It will fall with the bears at a support level of $4.25. This must be stopped at once by Polkadot to prevent the bears from pulling the crypto further down to the second level support of $4.11, which is deep enough for a bounce back.

Bitcoin Cash (BCH)

The crypto seems to be recovering from its bearish dip in the past week. Today, Bitcoin Cash (BCH) is traded at a high price of $232.76, with a growth rate of 11.4% in the last seven days.

Are you curious about the BCH price today? Let’s check it out.

Source: BCH/USDT
Source: BCH/USDT

BCH/USDT is doing well in the past days. It is currently traded at a high price of $234.35; with a growth rate of 12.2% in the last seven days. In order for BCH to continue its uptrend signal, the crypto must maintain its support level price of $228.02 above ALMA. If this goes on, BCH might have a chance to break its resistance level of $235.03, which leads to a bullish uptrend.

However, if BCH fails to resist the bears on its current trading position above ALMA, the crypto might drop its price along with the diving bears at a support level of $223.56. If this trend continues, the crypto might fall even deeper with the bears. This will give a hard time for the crypto to recover.

Read Also: BCH Price Prediction and Price Analysis 2021

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

 

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