Cryptocurrencies Price Prediction: Polkadot, AVAX & Chainlink – American Wrap 03 May
Chainlink price volatility drops, bringing transactions to 2020 lows, whales resort to dumping
Chainlink price, after days of sideways movement, failed to initiate a recovery, reinforcing the bearish outlook of its large wallet holders. Most of the investors are going back to being inactive, which in turn is having a drastic impact on the on-chain transactions.
Avalanche (AVAX) price is sliding again on Wednesday as big brother Bitcoin loses ground this time. The sell-off in Bitcoin weighs on all its siblings, cousins and nephews in the crypto and altcoin space. Avalanche price is nearing a very important supportive area at $16, which is the last barrier between now and a 15% decline that would have AVAX valued sub-$15.
Polkadot (DOT) price is a bit of an outlier this Wednesday, while several other crypto and altcoins are showing a small turnaround with a bullish undertone. DOT is not showing any of that after bears breached the dams and flooded the area around $5.75. Price action quickly sank lower and is heading toward $5.30 with no real support to be found along the way.
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FXStreet Team
FXStreet
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