Cryptocurrencies Price Prediction: Chainlink, Bitcoin & Solana – European Wrap 28 April


Chainlink price heads for low-hanging fruit of 5% gain as bulls try to overcome price cap

Chainlink (LINK) price sees bulls performing a big squeeze against bears since the rejection against $7.50 on Thursday. Later in that session bulls performed a bear trap and are dragging price action back up toward the current price cap. The squeeze is set to break higher as bears are bound to snap under pressure and will need to buy in the market in order to cover their loss. This should lead to a 5% jump in LINK price later on Friday.

Chainlink price is drawing a perfect squeeze on the chart since bears tried to run price action into the ground in early Thursday trading. Bulls kept their calm, bought the dip and are in the process of hitting bears where it hurts: in their trading balance. With continuous higher lows, bulls are squeezing bears out of their positions until they snap.

Chart

Bitcoin Weekly Forecast: Fed’s interest decision will be key to BTC directional bias

Bitcoin price shows no signs of bullish momentum as it hovers below a critical psychological level. This lack of buying pressure could be a result of exhaustion after BTC’s impressive rally in Q1 of 2023. With two major macroeconomic events on the horizon, traders are likely going to position themselves in the direction of the most probable outcome. 

Bitcoin price has failed to sustain its uptrend after its recent plummet from $30,000 to $27,200. Although bulls tried to run BTC back up, they faced a lot of selling pressure around the bearish breaker, extending from $29,630 to $30,480. After two failed attempts, the big crypto is currently hovering around $29,200.

Chart

Solana outperforms Bitcoin despite taking massive hit after FTX crash

Solana, an Ethereum-alternative project, has more than doubled in price in 2023. The token outpaced Bitcoin, the largest asset by market capitalization, in its year-till-date returns. Interestingly, SOL price has wiped out most of its losses from the 2022 FTX exchange collapse. 

The Ethereum-killer token, Solana, has yielded 125.88% gains for holders in 2023. The altcoin outpaced Bitcoin and several large market capitalization assets as its price more than doubled since the beginning of 2023. 

Chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Google, Apple could remove Binance from their app store on Philippines SEC request

Google, Apple could remove Binance from their app store on Philippines SEC request

The Philippines SEC has requested Google and Apple to remove applications controlled by Binance from their App stores. The exchange’s Philippines-based users are finding the exchange inaccessible to remove their funds. 

More Binance News

XRP rallies as Ripple slams SEC for penalties, asks regulator to establish likelihood of future violations

XRP rallies as Ripple slams SEC for penalties, asks regulator to establish likelihood of future violations

Ripple filed its response to the SEC lawsuit on Monday, arguing that XRP institutional sales before and after the court ruling show no disregard for the law. The firm asks for a civil penalty of no more than $10 million against the $2 billion requested by the SEC.

More Ripple News

Here’s why Ondo price hit new ATH amid bearish market outlook Premium

Here’s why Ondo price hit new ATH amid bearish market outlook

Ondo price shows no signs of slowing down after setting up an all-time high (ATH) at $1.05 on March 31. This development is likely to be followed by a correction and ATH but not necessarily in that order.

More Cryptocurrencies News

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

PENDLE price soars 10% after Arthur Hayes’ optimism on Pendle derivative exchange

Pendle price is among the top performers in the cryptocurrency market today, posting double-digit gains. Its peers in the altcoin space are not as forthcoming even as the market enjoys bullish sentiment inspired by Bitcoin (BTC) price.

More Cryptocurrencies News

Bitcoin: BTC post-halving rally could be partially priced in Premium

Bitcoin: BTC post-halving rally could be partially priced in

Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days? 

Read full analysis

BTC

ETH

XRP