DOT and LINK are Preparing to Continue Aggressive Growth
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DOT and LINK are Preparing to Continue Aggressive Growth

January 23, 2021      Peter Oleshchuk

Can many crypto projects boast the price growth by 300% over the last month? The question is rhetorical and today we will talk about one of these projects. Polkadot project (DOT) became known both in the DeFi space and around the crypto world.

DOT

The mark of $15 ensures peace of mind for investors and the continuation of the growth trend

Of course, before the triumphant growth, the chart shows a protracted consolidation. Only after 4 months of gaining a position buyers managed to break the critical range of $5.7-6 and start a real bull run. At the moment, we see that yesterday’s fall of the BTC price did not affect the DOT market. Buyers have fixed above the mark of $15 and are ready to continue their aggressive growth. Taking 7th place in terms of daily trading volumes among all crypto projects with a result of $3,502,808,886, the DOT market will sharply fall even if the BTC correction continues. An alternative test scenario of the DOT mark $10.5 is possible only with a strong and sharp correction of the BTC to $26,200. The signal for this scenario will be breaking the mark of $15.

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Though, not only DOT has shown itself well in the cryptocurrency market. A few days ago we wrote about LINK, which finally came out of hibernation. Buyers managed to keep the critical range of $16.4-17.4, the test of which we predicted in the previous article.

The main LINK target remains in the range of $36-40

The strength of buyers is clearly visible on the LINK chart. After a sharp price fall over the previous two days, buyers managed to recover lost positions and even update the local high. Fixing the price above $24 on the daily timeframe will allow buyers to continue moving with the target of $36-40. At the moment, the weekly candle on the LINK market looks rather dubious. The excessive ease with which sellers were able to push the price to the range of $16.4-17.4 makes them reckon with their strength. Therefore, a bad break of the mark $24 will provoke consolidation for the whole next week. Nevertheless, this will only postpone the inevitable – continued growth of the LINK market.

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Peter Oleshchuk
Peter Oleshchuk

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.