This week in the cryptocurrency market features significant changes affecting both major players and new projects.
Current Situation with Chainlink (LINK)
Chainlink (LINK) has dropped below a key support level, currently around $17.33. A more than 8% weekly loss indicates rising bearish pressure. The appearance of a 'death cross' on the 4-hour chart confirms deteriorating market sentiment. Increased inflows to exchanges point to possible further losses. If this trend continues, LINK could decline to $15.90, if not further.
Analysis of Hedera (HBAR)
Hedera (HBAR) has shown sharp growth but has fallen by 3.18% in the last 24 hours, currently around $0.26. This decline follows a peak of $0.70. Technical indicators, such as the MACD, suggest a potential weakening trend, signaling a possible stage of consolidation. HBAR may remain in a sideways range or continue to decline in the coming days.
Development of Cold Wallet
Cold Wallet has gained attention due to its $270 million acquisition of Plus Wallet. This merger centralizes a significant user base and helps avoid the startup stage. The presale for Cold Wallet is currently at stage 16, with over $5.6 million raised, offering improved conditions for new users. However, like other parts of the market, entry and exit strategies remain important.
Against the backdrop of bearish pressure on Chainlink and Hedera, Cold Wallet is rapidly advancing, highlighting interest in unique projects within the crypto industry.
