Cryptocurrency prices were relatively volatile this week as a risk-off sentiment resumed and as US equities tumbled. Bitcoin remained in a tight range of around $68,000 while meme coins like Pepe and Floki pumped then slipped. This article provides an analysis of some of the most popular cryptocurrencies like Chainlink (LINK), Litecoin (LTC), and Notcoin (NOT).
Chainlink price prediction
Chainlink price was in the spotlight this week as it turned five years old and as its officials made notable announcements at the Consensus event in Texas. This also happened when Aptos announced that it was integrating Chainlink’s data feeds and its Cross-Chain Interoperability Protocol (CCIP).
Chainlink token initially jumped to a high of $19.17 this week and then pulled back to about $18. On the daily chart, the 50-day and 25-day Exponential Moving Averages (EMA) have formed a bullish crossover pattern.
It has also retreated below the 23.6% Fibonacci Retracement point while the Relative Strength Index (RSI) has drifted down from its overbought level. Therefore, I suspect that the token will bounce back and possibly retest the psychological level of $20.
Litecoin price forecast
The price of Litecoin remained in a consolidation phase this week, tracking that of Bitcoin. It was trading at $84 on Friday morning, down from the year-to-date high of $112.80.
On the daily chart, the price has moved slightly above the crucial support level at $79.42, its highest swing on December 9th. LTC was consolidating at the 50-day and 25-day Exponential Moving Averages (EMA) while the RSI was stuck at 50.
Most importantly, Litecoin has formed a bearish flag pattern, a popular bearish sign. The flag side of the pattern also resembles a rising wedge. Therefore, the outlook for the token is extremely bearish, with the next target to watch being $80. This view will become invalid if it moves above the crucial resistance at $90.
Notcoin price analysis
Notcoin, the recently launched Toncoin play-to-earn network, has staged a strong comeback in the past few days amid high demand from speculators. It has soared from last week’s low of $0.0045 to above $0.012.
On the hourly chart, the token has moved above the Ichimoku cloud indicator and the 25-period Exponential Moving Average (EMA). Notcoin has also continued forming higher highs and higher lows this week.
It has jumped above the Volume Weighted Average Price (VWAP). Therefore, the token’s outlook is bullish, with the next potential level to watch at $0.0015. This view will be confirmed if it moves above this week’s high of $0.013.
