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LINK, DOT, ADA and TRX Price Analysis for September 9

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Wed, 9/09/2020 - 15:30
LINK, DOT, ADA and TRX Price Analysis for September 9
Cover image via www.tradingview.com

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Most of the coins have come back to the green zone except for Bitcoin (BSV). It is the only crypto from the Top 10 list that is suffering from a bearish mood.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The key data for Chainlink (LINK), Polkadot (DOT), Cardano (ADA) and TRON (TRX) today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Chainlink 

LINK

$4,283,752,923 $12.24 $1,402,595,288 5.63%

Polkadot

DOT

$3,770,358,803 $4.42 $493,151,049 3.90%

Cardano

ADA

$2,396,926,012 $0.092449 $774,823,754 1.77%

TRON

TRX

$2,441,151,128 $0.034066 $3,023,173,511 2.92%

LINK/USD

Chainlink (LINK) is the top gainer from our list. The price of the altcoin has risen by 5.63% over the previous 24 hours.

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

On the daily chart, Chainlink (LINK) is about to make a retest of the local resistance level at $13.40 before a drop continues. The trading volume is still low, which means that bulls have no chances of making a reversal and returning the rate of the altcoin to the local peak at almost $20.

Chainlink is trading at $12.35 at press time.

DOT/USD

The rate of Polkadot (DOT) has also significantly increased over the last day. The coin has gained almost 4% since yesterday, while the price over the last week has declined -26.11%.

DOT/USD chart by TradingView
DOT/USD chart by TradingView

From a technical point of view, Polkadot (DOT) is trading similarly to Chainlink (LINK) as short-term growth is also the most likely price action.

Related
ADA, XLM, and LINK Price Analysis for 5th of September

Although there is a high concentration of liquidity above, the buying trading volumes are not enough to update the previously reached peaks. In this case, Polkadot (DOT) can make a false breakout of the $4.95 mark, followed by a continued drop.

Polkadot is trading at $4.46 at press time.

ADA/USD

Cardano (ADA) is gaining the least from our list. The price of the altcoin has increased by only 1.77% since yesterday.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) is not an exception to the rule. On the 4H chart, the altcoin is forming a bullish divergence. However, the buying volume is too low for a continued rise. For this reason, traders may expect short-term growth to $0.0972 before a further drop continues.

Cardano is trading at $0.093 at press time.

TRX/USD

The rate of TRON (TRX) has increased by 2.92% since yesterday, while the decline over the last week has made up 9.50%.

TRX/USD chart by TradingView
TRX/USD chart by TradingView

Although TRON (TRX) is located in the green zone, it short-term growth has come to an end. The coin failed to fix above the resistance at $0.035, which means that bulls are not strong enough for a reversal. In this case, the continued decline to the support at $0.032 can be considered the main scenario.

TRON is trading at $0.034 at press time.

 
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