Tuesday, June 6, 2023

Today, Solana went up by 5%. All cryptocurrencies worked to bounce back from Friday’s losses. The total value of all of the cryptocurrencies in the world increased 2% as well. Additionally, Chainlink also gained more value and went higher than a certain level it had not gone above before.

SOL/USD Won’t Dip Below $19

The cryptocurrency Solana (or SOL) had an increase of 5% today and its worth went back up over $20.00. Before that, it was only at a low of $19.81 on Friday, but then the price quickly rose to a peak of $21.25 in one day on Saturday. The bottom line here is that the currency won’t dip below $19.90 from now on, because it’s become like a safety net for SOL/USD.

The chart shows that on April 10, the SOL index started to go up after reaching a certain point. It stayed up for six days in a row. On Saturday, this rise got even bigger because the RSI (a number to measure how strong or weak something is) went above 45. As of right now, it’s at 46.49 and looks like it might keep going if it can break past 50.

Breaking Through the Ceiling

Today, the price of Chainlink (LINK) went up. It started at a low of $6.37 and then made it to an all-time high of $6.63 in just a few hours. This jump also moved the price above a point of $6.50 that it had not gone beyond for two months. In other words, when looking at Link/USD’s daily chart, we can see that it reached beyond its long-term ceiling!

The price strength of LINK (trading at $6.58) has gone up to a peak of 42.00, yet it remain stuck there. It now stands at 41.20, with a support point of 40.00 if the trend does start changing. Recently, the price is a bit lower than before. If you want to get regular updates about these changes, register your email address here.

Do you think that chainlink could grow beyond $7.00 during the month of May? Let us know your opinion in the comments!

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