invezz.com
Chainlink, Arweave and Cosmos are among altcoins showing a bullish outlook as investors target Bitcoin (BTC) move to $100k.
This means that while leading altcoins like Ethereum, Solana and XRP are firmly on traders’ radar, LINK, AR and ATOM are also attracting attention.
The prices of these coins are likely to rise significantly in tandem with the broader market, especially if BTC goes parabolic beyond $100k.
Catalysts will include spot ETF demand, Bitcoin ETF options trading, regulatory clarity amid changes at the SEC by the new US government of Donald Trump and MicroStrategy’s huge BTC buy.
Notably, MicroStrategy bought another $4.6 billion worth of Bitcoin on Monday, November 18 – the largest single BTC purchase.
Upbeat sentiment is extremely high.
What would this mean for LINK, AR and ATOM?
Chainlink (LINK) price
Decentralized oracle network Chainlink has traded lower in the past 24 hours.
LINK changed hands near $16 before falling to $14.78.
However, the blockchain abstraction platform, which announced a major milestone with UBS and SBI Digital Markets on tokenized funds, is up nearly 28% in the past month.
LINK traded near $10 on November 5 when cryptocurrencies began to rally amid Trump’s election victory.
Continuation could see LINK price surge to year-to-date highs above $22.
The all-time high of $52.88 will be a target if altcoins go wild.
Cosmos (ATOM) price
Like Chainklink and other altcoins, Cosmos has pared some of its gains in the past 24 hours.
Nevertheless, ATOM price is up 20% in the past week and over 45% since November 5.
With ATOM poised to retest $6.50 with a rising channel pattern, a potential breakout to $9 could allow bulls to target YTD highs above $14.
The ATH for Cosmos is $44.70 reached in Sept. 2021 and the all-time low is $1.13 reached in March 2020.
Arweave (AR) price
AR is the native token of Arweave, a decentralized storage network designed to support the web3 ecosystem.
The project’s AR token allows for paying of miners helping to secure the stored data.
Bulls have struggled for upside as decentralized physical infrastructure and artificial intelligence tokens pared upside momentum seen earlier in the year.
Notably, the current price above $18 shows some gains from the lows of $12.40 on November 5.
Chart details also show formation of a support zone above the downtrend line.
If price breaks higher amid a widespread rally, key targets on the upside will be $30 and the YTD high above $48.
The post Crypto price update: Chainlink, Arweave, Cosmos appeared first on Invezz