Currently, the cryptocurrency market is showing mixed dynamics. Chainlink is forming a bullish trend, Ethereum faces strong resistance, and new player BlockDAG launches its Blockchain Explorer.
Chainlink's Bullish Trend Formation
Chainlink (LINK) is currently forming a bullish trend, indicated by a broadening wedge, which may signal a potential rally. This pattern often points to a price increase of 40-60%, aiming for the $25-26 range. The current price of LINK stands at $15.39, and indicators such as narrowing Bollinger Bands and a rising RSI also signal increasing buying pressure.
Ethereum Resistance at $2,700
Ethereum (ETH) recently encountered strong resistance near the $2,700 mark, leading to a 3.05% drop to $2,476. On that day, significant selling was observed as large holders offloaded over 188,000 ETH, indicating a potential shift in market sentiment. Observers are closely watching the support level: if it holds, a bounce-back could be possible, but further declines could occur otherwise.
Innovations from BlockDAG and Their Impact
BlockDAG has launched a new Blockchain Explorer, allowing users to track network activity in real-time. This tool provides access to information about blocks, transactions, and wallets, making interaction more convenient for both users and developers. A unique feature of BlockDAG is its EVM compatibility, simplifying the tracking of Solidity-based smart contracts and ensuring data transparency and accessibility.
Current trends in the cryptocurrency market indicate that Chainlink may expect growth, while Ethereum is under pressure. In contrast, BlockDAG focuses on functionality and transparency, potentially reshaping market rules.
