BTC, BCH, XTZ, LINK Price Prediction - Can Market Rise as Fast as Before?

Price Predictions
Sat, 02/29/2020 - 16:00
Denys Serhiichuk
Is the market showing the same moods for Bitcoin (BTC), Bitcoin Cash (BCH), Tezos (XTZ), and Chainlink (LINK)?
Cover image via www.tradingview.com

The last day of February has been positive for most coins. Altcoins, especially, are showing good price dynamics. The top gainer is Binance Coin (BNB) whose rate has risen by more than 9% over the last day.

Top 10 coins by Coinstats

Below is the key data for Bitcoin (BTC), Bitcoin Cash (BCH), Tezos (XTZ), and Chainlink (LINK).

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$158 812 560 813

$8 704,94

$41 207 865 710

2.12%

Bitcoin Cash

BCH

$5 766 363 104

$315,02

$4 492 716 836

3.54%

Tezos

XTZ

$2 023 713 285

$2,88

$172 360 194

8.32%

Chainlink

LINK

$1 501 884 122

$4,29

$513 577 924

9.97%

BTC/USD 

After Bitcoin (BTC) bounced off the $8,500 level, its growth stopped. In terms of the weekly analysis, the top crypto lost 9.84%.

BTC/USD chart by TradingView

From a technical perspective, Bitcoin (BTC) has not finished its correction yet. It has continued trading within the descending channel since February 24.

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Furthermore, the trading volume index is dropping as there are no active buyers yet. As such, the decline may continue to the bottom zone of the channel at around $8,300-$8,400.

Bitcoin is trading at $8,669 at press time.

BCH/USD 

Even though the price of Bitcoin Cash (BCH) has increased over the last day, its short-term sentiments remain bearish.

BCH/USD chart by TradingView

On the 4H chart, Bitcoin Cash (BCH) is located between the $325 liquidity level. Respectively, the coin may go to $300 if buyers cannot hold $310 in the short term. Moreover, there is no buying trading volume at current levels, which also confirms ongoing bearish sentiments. Also, the RSI has formed a bearish divergence that supports the dominance of bears.

Bitcoin Cash is trading at $311.25 at press time.

XTZ/USD 

Tezos (XTZ) is one of the biggest gainers of the top 10 altcoins. Its rate has increased by 5% over the past 24 hours.

XTZ/USD chart by TradingView

Tezos (XTZ) is neglecting the current bearish sentiments of the market. The coin has managed to overcome a recent decline and there are high chances it will continue its growth. The lines of the MACD indicator are rising, as well as the trading volume. As the altcoin has fallen by almost 14% over the past week, the next 7 days are looking good for Tezos (XTZ).

Tezos is trading at $2.88 at press time.

LINK/USD 

Chainlink (LINK) is trading similarly to Tezos' (XTZ) patterns. The coin has also shown much better price dynamics. Its rate has risen by 5.93% over the past day.

LINK/USD chart by TradingView

According to the chart, Chainlink (LINK) will continue its current growth based on trading volume. What is more, the lines of the Bollinger Bank indicator are going upward. The nearest resistance is located near the $4.50 level. If the market remains in a sideways trend, the mentioned level might be reached in the first days of March.

Chainlink is trading at $4,22 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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