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Cryptocurrencies Price Prediction: Chainlink, Litecoin & Bitcoin – European Wrap 18 May

Cryptocurrencies Price Prediction: Chainlink, Litecoin & Bitcoin – European Wrap 18 May
FXStreet TeamFXStreet TeamFXStreet

Chainlink price carries small gains for this week, while recovery is out of the question

Chainlink (LINK) price has a few tailwinds to enjoy at the moment as several elements and indicators are pointing to heavy selling getting underway. The 55-day Simple Moving Average (SMA) is heading to the downside, while the Relative Strength Index (RSI) is trading sub 50. The red descending trend line also remains unchallenged for now.

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Litecoin Price Forecast: Is third time the charm for LTC to trigger 20% breakout move?

Litecoin price has been consolidating for quite some time as it faces a strong headwind. The lack of buying pressure or increased selling pressure has kept LTC stationary despite the visible struggle. But things could change as the altcoin is preparing for its third attempt to kickstart a rally.

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Bitcoin mining difficulty hits record high, signals likely influx of selling pressure on BTC

The Bitcoin network ushered in a mining difficulty adjustment, increasing it by 3.22%. Typically, an increase in mining difficulty of a Proof-of-Work (PoW) network is indicative of network health and resilience to attacks.

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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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