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

Price Predictions
Wed, 09/09/2020 - 15:30
Denys Serhiichuk
Can any of the altcoins outperform the Top 3 cryptocurrencies?
LINK, DOT, ADA and TRX Price Analysis for September 9
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.

Contents

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$1,402,595,2885.63%

Polkadot

DOT

$3,770,358,803$4.42$493,151,0493.90%

Cardano

ADA

$2,396,926,012$0.092449$774,823,7541.77%

TRON

TRX

$2,441,151,128$0.034066$3,023,173,5112.92%

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
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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.

 
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.