beincrypto.com
The past week has seen significant movement across altcoins, with Chainlink ($LINK) surging nearly 20% to reach its highest price since November 2021, driven by strong buying pressure.
In contrast, dogwifhat ($WIF) has fallen by 20%, dropping below the $3 billion market cap threshold and nearing its lowest levels since mid-November, as bearish sentiment weighs heavily. Similarly, Mog Coin ($MOG) has declined 19%, slipping to 8th place among the largest meme coins and facing the risk of being overtaken by altcoins like PEANUT and $POPCAT.
Chainlink ($LINK)
Chainlink price has surged nearly 20% over the past week, reaching $30.94, its highest price since November 2021. This rally highlights strong buying pressure and renewed investor interest, positioning $LINK for potential further gains for the altcoin if momentum holds.
The EMA lines show $LINK’s uptrend remains strong, while the RSI at 57 indicates healthy momentum without being overbought. This suggests $LINK has room for further growth, supporting the bullish narrative for now.
If $LINK breaks the $31 resistance, it could test $35 next. However, if the trend reverses, support levels at $27.4 and $22.4 might come into play, providing a buffer against deeper declines.
dogwifhat ($WIF)
$WIF price has dropped around 20% in the past week, falling below the $3 billion market cap threshold and now sitting at $2.65 billion. This decline reflects significant bearish pressure, pulling $WIF to its lowest levels since mid-November.
Despite being the fourth-largest meme coin, $WIF risks losing its spot to BONK, as the market cap gap between them is just $400 million. Continued underperformance could see this ranking shift in the near term.
$WIF’s EMA lines are bearish, with short-term averages below long-term ones and the price trading under all key levels. If the downtrend persists, $WIF could test support at $2.5, with further declines possibly reaching $2.19.
Mog Coin ($MOG)
$MOG has dropped 19% over the past week, slipping to 8th place among the largest meme coins. It risks being overtaken by other altcoins like PEANUT and $POPCAT if the downtrend continues.
Short-term EMA lines for $MOG are declining and could soon cross below long-term ones, forming a death cross, a strong bearish indicator. This suggests the current correction may deepen for the altcoin.
If the death cross forms, $MOG could test supports at $0.00000267 and possibly fall further to $0.0000020. A trend reversal, however, could see it challenge resistance at $0.0000033.