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Chainlink’s rise is unstoppable after rising more than 14% over the last 48 hours to reach today’s intraday high of around $11.6. Weekly gains have reached 51%, and the year-to-date increase is 98%. Where the LINK price is headed is a question of curiosity.
At the time of writing, LINK is trading at $11, with a 6.5% increase over the last 24 hours. According to data from CoinMarketCap, Chainlink’s daily trading volume edges close to the $1.2 million mark, attesting to the increased trader interest over the last week. The live market cap is $6.16 billion, placing LINK at #12 on the CoinMarketCap ranking.
Chainlink Price Uptrend is Intact
Riding on the current bullish trend in the crypto market, the buyers have pumped LINK price to reclaim the $10 level, but downside risks remain as investors contemplate the price action. Even so, the technical setup favors the upside in the near term, suggesting the bulls could still lead the market.
The Relative Strength Index (RSI) is in the overbought zone but without sell signals, retaining its northbound traction that reflects rising momentum. The price strength at 81 suggested that the buyers were controlling the market.
As such, the Chainlink price could continue the uptrend, revisiting the $15 psychological level over the next couple of days. This would represent a 34% climb from the current price.
LINK/USD Daily Chart
On the other hand, the overbought conditions could lead to buyer exhaustion, paving the way for profit-booking. The resulting overhead pressure could see the Chainlink price lose the support recently established at $10.4, potentially moving below the moving averages between $7.2 and $7.7.
In the worst-case scenario, the slump could see the Oracle network token drop to $6 or toward the $5 psychological level. Such a move would constitute a 55% drop below current levels.
LINK Alternatives
Market participants should know that trading cryptocurrencies can be risky because of high price volatility. As such, the Chainlink could drop just as fast as it has risen, leading to the loss of all the recent gains. As such, investors could diversify their investments by looking into new cryptos in presale with the potential to make 10x returns.
One such crypto is Bitcoin Minetrix (BTCMTX), a tokenized cloud-mining crypto that has already raised over $2.2 million in presale and could be an even better return on investment.
#BitcoinMinetrix has achieved another significant milestone! ✅
Accumulating over $2,200,000 raised. pic.twitter.com/NcfrJYIZel
— Bitcoinminetrix (@bitcoinminetrix) October 24, 2023
Priced at $0.0112, $BTCMTX has just entered Stage 3 of its presale, and the price is set to rise in four days, or possibly sooner, to $0.0113. Stage 4 begins when the raised total reaches $3,101,000, so there’s no time to lose to jump on board.
Early contributors can avail themselves at the lowest prices the coin is likely to be priced at, as the Bitcoin bull run appears set to send its valuation into orbit.
Buy $BTCMTX in presale today, and you can start staking right now and earn 276% APY. 150 million $BTCMTX is currently being staked out of a total supply of 4 billion.
$BTCMTX is emitted at a rate of 158.5 per ETH block produced, and each staker receives an amount in proportion to their share of the staking pool.
According to the tokenomics information, 7.5% of the total supply is allocated to paying staking rewards. A further 15% is allocated to community rewards, 35% to marketing, and 42.5% for Bitcoin mining operations.
To buy the $BTCMTX token, you can use ETH, USDT, BNB, MATIC or a bank card. If you plan to purchase with ETH, you can start staking-to-earn straightaway.
All you need to do is connect your wallet, determine how much you wish to invest, and ensure you have a small amount over that to cover transaction fees (approximately $10-$20) if using the Ethereum blockchain.
As Bitcoin prepares for its biggest bull run, the best way to gain exposure is probably to buy into a double-edged sword like Bitcoin Minetrix.
$BTCMTX combines exposure to the price upside of Bitcoin but also to the mining income at the center of a digital asset that could one day challenge the US dollar by becoming one of the major reserve currencies of the world.
Visit Bitcoin Minetrix here for more details.
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