Chainlink (LINK) And RENDER Market Trends Signal Rally - New Records In September?
Chainlink and RENDER are showing signs of a potential surge. As market trends suggest a bullish movement, the spotlight is on these two coins. Could September see them breaking new records? This article dives into the possibilities and indicators hinting at an upcoming rally. Find out which cryptocurrencies are poised for growth.
Chainlink Market Shifts: Past Performance Meets Current Pricing Levels
Chainlink experienced a notable upturn over the past month with prices rising by 26.39% while showing a 12.96% decline over the last six months. The recent week, however, reflected a drop of 7.69%, indicating a short-term pullback amid earlier gains. Price behavior in this period has been mixed, with rapid swings suggesting that market sentiment was not consistently bullish or bearish. The figures hint at pockets of strength that emerged monthly, even as longer-term trends faced downward pressure.
Current price action finds Chainlink trading between $13.01 and $20.54, with immediate resistance at $24.18 and support at $9.11. A second resistance line appears around $31.71 while another support zone is noted near $1.58. The relative strength index at 49.28 and neutral moving average recommendation indicate that neither bulls nor bears firmly control the market. Traders may consider buying near the support area or holding positions if the price shows signs of breaking past the resistance. Watching for a sustained move above $24.18 could signal renewed bullish momentum.
Altcoin Price Movements: Six-Month Trend and Key Trading Levels
RENDER saw a 13.67% gain over the past month but slipped 19.54% over the last six months. A recent one-week drop of 11.41% highlights shifting momentum. Price action has shown rapid rallies followed by corrections, reflecting market volatility and alternating sentiment. Historical changes indicate bursts of buyer activity offset by longer-term downward pressure. Fluctuations in the month and six-month periods suggest that while short-term gains are possible, sustained strength has been elusive.
The coin is currently trading within a range from $2.94 to $4.62. Immediate resistance is at $5.51, with a farther level at $7.19, challenging to break without stronger buying. Significant support is identified at $2.15 and another cushion at $0.47. Current indicators reveal mixed signals; the Awesome Oscillator at -0.224 and Momentum Indicator at -0.617 indicate potential selling pressure. Bears dominate, reflected in the recent 11.41% decline, though a month increase of 13.67% suggests recovery potential. Traders may examine the $2.15 support level for entry, while monitoring short-term resistance near $5.51 for sell signals.
Conclusion
Both LINK and RENDER show promising trends. Indicators suggest a potential rally. Market momentum looks strong. September might see new records for both assets. Positive sentiment and market activity support this view.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Investment Disclaimer
