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Cryptocurrencies Price Prediction: Chainlink, AVAX & Ethereum – American Wrap 16 March

Cryptocurrencies Price Prediction: Chainlink, AVAX & Ethereum – American Wrap 16 March
FXStreet TeamFXStreet TeamFXStreet

Chainlink price holding good cards for a push higher with 13% of profit nearby

Chainlink (LINK) price has had a rough trading session after bulls could not push the price action above the 55-day and the 200-day Simple Moving Averages (SMA). With a few rejections, LINK bears had a free run to push price action into the ground. Nonetheless, stubborn bulls have been defending the green ascending trendline for March and it could prove to be a success in the short run.
LINK/USD  4H-chart    
AVAX price followed the broader market’s lead, as the altcoin posted a red candle on the chart on Wednesday. The extremely high volatility in the crypto market is the result of the ongoing banking crisis in the United States as well as the rally noted by the market following the release of the Consumer Price Index (CPI) on Tuesday.
AVAX/USD 1-day chart
Arbitrum, one of the largest Ethereum layer-2 scaling solutions, has announced its airdrop scheduled for March 23. The Arbitrum Foundation said that ARB will be airdropped to community members and DAOs. ARB holders will vote on key governance decisions on the Arbitrum network. 
 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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Bitcoin (BTC) edges slightly lower, trading at $64,300 at the time of writing on Friday but holding firmly above a key support zone. US-listed spot Bitcoin Exchange Traded Funds (ETFs) support BTC as they continued to attract institutional flows through Thursday, pointing to the fourth consecutive week of net inflows.