Chainlink, FTX Token, Crypto.com Coin Price Analysis: 27 September – Digital Market News


Chainlink was noting some bullish momentum in its market in the near-term, but it still had an important level of resistance to reclaim to flip its bearish medium-term outlook to bullish. This comes after a recent report suggested that Chainlink had decoupled from Bitcoin.

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FTX Token rose past a level of resistance. but the market was indecisive after flipping the level. Crypto.com Coin lost the strong uptrend it was on since March, and established a possible range for its price in the coming weeks.

Chainlink [LINK]

Source: LINK/USD on TradingView

As shown by the VPVR, LINK had strong levels of support at $7.4, $8.5, and $9.5, with levels of resistance at $10.5 and $12.5 to the upside.

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With the evidence at hand, we can only conclude that LINK bounced off its support at $7.5, in a move that is only a pullback before another drop to $6.5 and below.

The Awesome Oscillator showed a bullish crossover, indicating a near-term bullish outlook. A close above $11 could take LINK to $12.5 quickly, as the VPVR showed a lack of significant trading activity in that region.

However, if LINK is successful in closing above $12.5 and can manage to hold on to the level, a reversal in trend would be the conclusion.

In related news, Chainlink and Theta joined forces to combat a multibillion-dollar ad problem.

FTX Token [FTT]

Source: FTT/USDT on TradingView

FTT ascended past a level of resistance at $3.55, but this might be reversed shortly. The RSI rose and fell through the neutral 50 line repeatedly, suggesting choppiness in the market.

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Indecision in the market might cause prices to follow the previous trend, which would be bearish. This could see FTT lose $3.55 as support, and drop towards $3.28.

Crypto.com Coin [CRO]

Source: CRO/USDT on TradingView

As the moving averages show, CRO has been in a downtrend for the past month. However, the trend might be slowing down.

The 50 SMA (yellow) moved above the 20 SMA (white) to denote bearishness in the short-term. The Parabolic SAR gave a buy signal, but CRO dropped beneath the 20 moving average at press time, and a close beneath 20 SMA would show further bearishness and could push the price to $0.145.

The 100 SMA (pink) and 200 SMA (purple) were moving close to one another and had also formed a bearish crossover. This underlined the likelihood of the price heading lower, but also showed that the downtrend was not strong, given the proximity of the longer-term moving averages.



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