Chainlink, Ethereum Classic, Dogecoin Price Analysis: 06 November


The rally has started and the crypto community is waiting for most altcoins to join the rally with Bitcoin. Currently, most of the halts have fallen behind and have witnessed bearish sentiment. However, given the correlation with the largest asset, the alternative season may not be far off.

Some halts have already begun to realign for a bullish turn of events, while others need to escape short-term pressures.

Chain [LINK]

Source: LINK / USD on TradingView

Chainlink’s price moved like a wave and was currently trading at $ 11.28. If we look at the chart above, the price has recently moved higher, which has caused the 50 moving average to slide below the candles.

The trend of change was also highlighted by the signal line that was noticing the rise in the price of LINK. The Bollinger Bands appeared to be closer than before, indicating a reduction in volatility in the market. If the current price receives more support from traders, LINK may be able to jump on the growth train.

Ethereum Classic [ETC]

Source: ETC / USD on TradingView

The chart above noted the strong resistance at $ 5.85 and the failure of ETC to break out of this level. After re-testing this level recently, the digital asset dropped to support at $ 4.45. However, after breaking out of support for a brief moment, he noticed a minimal increase in price and was valued at $ 5.19 at press time.

The Awesome Oscillator Indicator has noticed negative momentum in the ETC market. It meant that the selling pressure was even higher in the short term, making the dominant trend bearish. The 50 moving average also crossed the candles, which also meant the price was falling.

Dogecoin [DOGE]

Source: DOGE / USD on TradingView

The meme coin gained a lot of attention due to the massive transactions made in June, but has been on a downward slope ever since. The asset price was not supported by sufficient volume and recently consolidated between $ 0.0030 and $ 0.0023. Although DOGE tried to break out of the resistance formed yesterday at $ 0.0030, but it failed. Its current value remained at $ 0.0026.

The Parabolic SAR indicator has aligned below the candles observing the emerging bullish trend in the market. Similarly, the MACD indicator also noticed a trend of change. The MACD line has crossed the signal line as the buying pressure for DOGE increases. The MACD had noticed a long bullish trend, but not supported by sufficient volume. However, the current market is also experiencing an increase in volume.

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