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AVAX, DOT, and LINK Price Analysis for January 14

Price Predictions
Fri, 01/14/2022 - 17:22
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Denys Serhiichuk
Which altcoins are ready to bounce back?
AVAX, DOT, and LINK Price Analysis for January 14
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Buyers could not maintain bullish momentum, and the majority of coins are under bearish pressure once again.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

AVAX/USD

Avalanche (AVAX) is the biggest loser from the list today, dipping more than 7%.

AVAX/USD chart by TradingView
AVAX/USD chart by TradingView

Despite the fall, the altcoin keeps trading within the big channel between the support level at $76.57 and the resistance level at $101. The sideways trading is also confirmed by the decreasing trading volume, which means that neither bulls nor bears are dominating at the moment.

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In this case, there's a low chance of seeing a sharp movement shortly as the coin needs to accumulate more power.

AVAX is trading at $88.85 at press time.

DOT/USD

Polkadot (DOT) is performing better compared to the other coins from the pack, dropping by only 1.93%.

DOT/USD chart by Trading Vie
DOT/USD chart by Trading View

After Polakdot (DOT) made a false breakout of the support level at $22.66, it is trying to accumulate energy to come back to restore the lost positions. If the buying trading volume increases, DOT might return to the vital zone around $30.

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However, the mid-term bullish trend can start again only if the daily candle fixes above the resistance at $38.77.

DOT is trading at $26.99 at press time.

LINK/USD

LINK is not an exception, going down by 7.63%.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

Chainlink (LINK) is trading sideways despite today's fall. At the moment, the price is located closer to the resistance against the increased trading volume. If the pice comes back to the orange line at $26.68 and breaks it, buyers may keep the growth to another level at $38. 

LINK is trading at $24.35 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.