Chainlink, EOS, FTX Token Price Analysis: 15 September – Digital Market News


Chainlink reached an ATH of $20 in August and could be set to slowly grind downward in the coming weeks. On a shorter time frame as well, the path of least resistance for LINK was to the downside. EOS was consolidating above a level of support. FTX Token could be set to trade within a range in the coming days, as its imminent levels of support and resistance stayed unbroken.

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Chainlink [LINK]

Source: LINK/USD on TradingView

As shown by the Fibonacci Retracement tool, LINK retraced 23.6% of the move down from $20 to $9.22. Chainlink was valued at $11.98 per token at the time of writing and was just above $11.76 level.

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$11.76 is an important level because it also represents the 61.8% retracement of LINK’s move upward from $9.22 to $13.4 on its recent bounce.

If LINK loses this level, it could plummet toward $9.5. VPVR showed a lack of significant trading activity from the $11.6 region to a $9.5 region. This meant price is unlikely to stay for long in between the two levels.

EOS

Source: EOS/USDT on TradingView

EOS was the 12th largest cryptocurrency by capitalization, with a market cap of $2.5 billion. It was trading above a significant level of support at $2.72. Bollinger bands squeezed around EOS, while trading volume was also subdued. This showed a period of consolidation in the market.

The next major move of Bitcoin or Ethereum could trigger a break out upwards or downwards for EOS. This will be confirmed by expanding Bollinger bands, as well as increased trading volume.

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EOS has tested support multiple times in the past few days, forming lower highs each time. This price action could forecast a break beneath support in the coming days.

FTX Token [FTT]

Source: FTT/USD on TradingView

FTT had a level of support at $3.88, which coincided with 100 SMA (pink) to form a strong level of support.

FTT displayed a bearish divergence a few days ago, highlighted by the white trendlines. This prompted a drop in the asset’s value, but it recovered almost as quickly. It got rejected at $4.15 resistance again. This might indicate that price is likely to oscillate between the two levels.



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