Cryptocurrencies Price Prediction: Chainlink, Axie & Polygon — Asian Wrap 18 Nov

FXStreet Team FXStreet

Chainlink finds likely support, LINK to resume rise to $50

Chainlink price action faces increased profit-taking and broader market uncertainty. A drop below the bear flag has been halted at a strong support zone. A zone that must hold or Chainlink could face a swift descent to $20. Chainlink price is pitted against a powerful inflection point at the $29 level.

Axie Infinity could drop another 30% as profit-taking intensifies

Axie Infinity price remains one of the best performing cryptocurrencies of 2021. Its all-time high of $166 was formed last week and now faces profit-taking and a pullback. Axie Infinity price action is very similar to Bitcoin’s and Ethereum’s current price action.

MATIC price struggles to find support, increasing risk of 15% correction

MATIC price continues to push lower, facing the same weakness affecting the broader cryptocurrency market. Significant support zones exist below, but failure to hold that support could trigger a sell-off. MATIC price performed a very bearish price action event last week by returning inside the rising wedge.