Monday, December 4, 2023

Altcoins Poised for a Bullish November Close: Here’s What Next for DOGE, SOL & LINK Prices

Upcoming Altcoin Cycle

Dogecoin (DOGE) Price Analysis

  • After rebounding from the lower support a couple of times, the DOGE price has been maintaining a steep upswing 
  • The price hit the crucial resistance at 0.618 FIB levels but failed to hold, causing the price to drop back to 0.5 FIB
  • The token withstood massive bearish pressure as the buying volume soared, causing it to sustain above $0.077
  • As the RSI is rising, the price is believed to rise back above 0.5 FIB levels and test the interim resistance at $0.085
  • However, the volume remains lower than the previous one, which may hinder the progress of the rally in the coming days.

Solana (SOL) Price Analysis

  • The SOL price after the breakout has maintained a healthy upswing in the short term and is currently trading sideways
  • The current accumulation does not appear to prevail for long as the volume continues to maintain decent levels
  • Besides, RSI continues to trade sideways, suggesting the price hovers within the same region for a while beyond which a breakout could be imminent
  • Therefore, the SOL price is believed to maintain around $60 for a while, which may be followed by a minor pullback towards the lower support
  • This move could attract significant liquidity, which may propel the SOL price close to $70 before the end of the year
  • Much like the previous one, the Chainlink price faced rejection after testing the multi-year descending trend line 
  • Regardless of the bearish move, the bulls are trying hard to hold the price above the crucial support at $12.91
  • A daily close above $15 could validate the accomplishment of a retest, paving the way for a  healthy rebound 
  • Moreover, the bearish divergence in the weekly RSI hints towards a minor pullback, probably close to $14, followed by a bullish rebound to $18 in the first few days of 2024.

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Photo of Sahana Vibhute

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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