Altcoins
2 Best Altcoins to Buy Today: LINK and LUNC
2 Best Altcoins to Buy Today: Chainlink (LINK) and Terra Classic (LUNC) are attracting attention with their dynamic market performance and promising prospects. Chainlink, renowned for its decentralized oracle network, has shown bullish trends, asserting its dominance in the market. Meanwhile, Terra Classic intrigues investors with its fluctuating but captivating market trends.
Chain link has recently seen a notable increase in its market performance. Last week, the value of Chainlink’s native token, LINK, increased by 24%. This is a significant milestone as the token reached $18.83 on February 3, 2024. This is its highest level since April 3, 2023, almost two years ago.
Currently, the price of LINK is $17.90. This represents a slight drop of 1.2% in the last day alone. Chainlink’s trading volume saw a substantial decrease, reaching over $1.13 billion.
The current market capitalization has exceeded $10 billion as of cinternal market data. This achievement consolidates its position among the top 20 cryptocurrencies in terms of market value. Despite some downward trends in recent days, Chainlink has made a strong comeback. It overcame the $17.00 barrier and the $18.00 resistance level. This recovery positions it today as one of the most promising altcoins in terms of investment.
Chainlink Price Chart: Tradingview
Since November 2023, The price of LINK fluctuated between $13 and $18. Bullish and bearish forces actively influence its market value. This dynamic interaction highlights the volatile nature of the cryptocurrency market, where Chainlink remains a key player.
Chainlink Market Resurgence: Will LINK Hit $30 by End of February?
If Chainlink’s (LINK) current market uptrend persists, the next major resistance level could be around the $20 mark. This would indicate a strong bullish phase for the digital currency. Conversely, if the bulls fail to sustain the price above the crucial $17 support level, there is a risk of downtrends taking over. This change in momentum could push the price below the $15 mark.
Additionally, the Moving Average Convergence Divergence (MACD) indicator is showing signs of a bullish crossover. This is evident when the MACD line approaches a crossover above the signal line, hinting at a potential move higher.
In a recent development, SpotOnChain, a renowned on-chain analytics company, shared information on X (formerly known as Twitter). They revealed that around 19 million LINK tokens were introduced. Of these, 15.95 million LINK tokens, worth around $287 million, were transferred to Binance, the world’s largest crypto exchange.
The remaining 3.05 million tokens, worth approximately $54.3 million, were moved to a Multisig address. This significant movement of LINK tokens between different addresses has attracted the attention of market observers, indicating active trading and potential strategic positioning in the cryptocurrency landscape.
Can Terra Classic maintain its uptrend?
Terra Classic, known in the crypto market as LUNC, experiences slight fluctuations in its value. Currently, LUNC is priced at $0.00009467, indicating an increase of 0.67% in the last 24 hours. However, looking at its recent performance over the past week, we see a decline of 6.75%.
This downward trend becomes more apparent with each month, where LUNC has lost 230% of its value. Despite these fluctuations, LUNC’s market capitalization grew modestly by 1%, reaching $548 million. However, its trading volume over the past day decreased by 11%, now standing at $15 million.
The unpredictability of the crypto market plays a crucial role in the trajectory of cryptocurrencies like Terra Classic. Despite some algorithm-based predictions that tend toward optimism, the market’s inherent volatility and susceptibility to speculative actions remain key factors. These aspects could significantly influence LUNC’s value and overall market sentiment, making it a potentially attractive option for investors looking for altcoins.
If LUNCH encounters a downtrend, it will oscillate between $0.00008 and $0.00007 in the coming days. This range has been his consolidation area recently. Conversely, if the bulls gain the upper hand, LUNC could target the $0.0001 resistance level. Further bullish momentum could push it towards the $0.0002 mark in the near future. These speculative predictions highlight the dynamic and ever-changing nature of the cryptocurrency market.
Related Articles