Crypto analyst John Isige explains why Chainlink (LINK) will lose momentum at $8.00. It’s clear, according to the analyst, it’s time to lock in the benefits in Ripple (XRP). The analyst then assesses the possibility of a rally in Ethereum (ETH) after the Merge. We have compiled John Isige’s LINK, XRP and ETH analysis for our readers.
“Chainlink price is at a critical point”
Chainlink is trading at $7.99 while facing multi-sold conditions. The Stochastic RSI on the eight-hour chart has reached a top, touching the 100.00 mark. This means that most likely the LINK price will trade above the actual market price. It also shows that a pullback is likely before the bullish trend continues.
Profit takers at $8.00 will also increase their bearish correction baht. The OBV (On Balance Volume) indicators show that Chainlink price is lacking momentum to continue the uptrend.
However, a drop in Chainlink price to $7.00 is not such a bad idea. IntoTheBlock’s on-chain IOMAP metric reveals that the region between $6.75 and $7.34 is a strong buyer congestion zone. Around 28,200 addresses have previously purchased around 338.7 million LINK tokens in the region. Investors in this range are unlikely to succumb to selling pressure. If anything random happens, Chainlink will gather more liquidity for a sharp rise to $14.00.
Weaker IOMAP clusters confirm the bullish outlook of Chainlink price. In other words, the path of least resistance is the upper truth for now. But LINK price needs to gain momentum first to avoid a pump and dump situation.
What’s next for XRP price?
Koindeks.com You followed XRP’s strong week from It stems from increased investor interest and optimism that Ripple’s lawsuit with the Securities and Exchange Commission (SEC) may soon be over. The XRP community is extremely optimistic following the development in court. On the other hand, XRP pulled back from its five-month high of $0.5615. It then fell to $0.4901. The 200-day SMA (Simple Moving Average – purple) provides close reinforcements to XRP.
As long as the 200-day SMA is not broken, traders will not have to worry about losing weekly accrued interests. However, a sell signal from the TD Sequential indicator indicates that there is likely to be some selling pressure. It also reveals that a comeback is imminent.
The demand to buy XRP is manifested in a green nine candlestick. However, traders need to confirm the actual sell order by checking to see if the lows of the sixth and seventh candles in the count exceed those of the eighth and ninth bars.
It’s worth remembering that the bear market is still going on. Therefore, it is necessary to keep in mind that there is also the possibility of withdrawal. Traders looking for possible exit points should consider the 200-day SMA analyzed above. On the downside, fresh entries could be made around the pivot on a return with resistance at $0.3800.
“Ethereum eases pressure on supply distribution”
On-chain information from Santiment shows that Ethereum’s supply is dwindling in the days leading up to Merge on September 15. Large-volume investors basically increased the impulse to sell. For example, addresses holding 1,000 to 10,000 tokens fell from 5,634 to 5,523 on September 14. Addresses with tokens in the middle of 10,000 to 100,000 stand at 1,179 after falling from 1,196 in one-to-one rounds. The overall pressure on Ethereum came to a head as addresses holding between 100,000 and 1 million ETH tokens dropped to 138 on August 28.
Ethereum supply distribution
From the chart above, investors eased the selling pressure. Small upper-sided movements are evident. But not always strong enough to support a bullish breakout. As soon as the Ethereum boost confirms at $1,200, the one-to-one traders who have driven the price down will return to make the most of the potential move back to $2,000.
Ethereum’s daily chart is holding marginally above $1,300. Thus, it shows that he is in agreement with the decreasing selling movement amid investors. The OBV (Equilibrium Volume) indicator moves horizontally to the midline. This means that consolidation will take priority before deciding which direction Ethereum will take.
If the Moving Average Convergence Divergence (MACD) closes the gap on the average line, it is possible that ETH will add credibility to its optimistic outlook. Traders looking for entry positions need to watch out for the 12-day EMA (Exponential Moving Average – red) to break above the 26-day EMA (blue), confirming the uptrend.
On the upside, Ethereum is likely to compete with a major seller congestion zone at the 100-day SMA (Simple Moving Average – blue) – around $1,474. Other valuables are at the 50-day SMA (red) – around $1,611 and the 200-day SMA (purple) – around $2,000.