Market Overview

Bitcoin, Chainlink & Compound - American Wrap For August 12, 2020

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Bitcoin Technical Analysis: BTC/USD is stable but an explosive move towards $13,000 could happen at any moment

Bulls have defended the 12-EMA at $11,436 for the past two days and are looking for a bounce towards $12,000. The current daily uptrend is still intact and the last week of consolidation has been actually positive for Bitcoin as it cooled off several indicators.

ChainLink Technical Analysis: LINK sees another 14% price explosion after brief and healthy consolidation

ChainLink is one of the best performing coins in the market despite the heavy criticism it has received in the past few months. Currently, the price of LINK is stable at around $14 and bulls are eying up $14.48, the last all-time high.

Compound Technical Analysis: COMP/USD explodes 40% towards $270 after a long period of consolidation

COMP was trading below the 12-EMA for weeks. This resistance level became the most crucial one in the short-term and it wasn’t until August 7 that bulls had a significant breakout above both EMAs. 

 

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Posted-In: Cryptocurrency Markets