+ 0.64
+ 0.46%
+ 0.60
+ 0.36%

Ethereum, Chainlink & Aave - American Wrap For August 26

August 26, 2020 4:20 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Ethereum Price Analysis: ETH/USD locked in a range below $400.00

Ethereum's ETH stopped the sell-off on approach to $370.00 on Tuesday and managed to recover to $382. by press time. The second-largest coin is down over 3% on a day-to-day basis and stayed mostly unchanged since the beginning of the day. ETH/USD has been sidelined since the start of the week, moving in sync with Bitcoin. If the coin fails to recover above $400.00 the selling pressure may increase significantly and worsen the short-term technical picture.

Chainlink has been unable to recover after the slump from the 2020 high at $20. The breakdown initially found support at $13 aided by the descending channel. There was a recovery but buyers hit a wall at $16. Since then, LINK/USD has remained pivotal at $15.

LINK’s meteoric rise has been attributed to the massive growth in decentralized finance ecosystem. The network claims to be at the center of DeFi by fashioning investors with life feed price data.

Aave Market Update: LEND/USD resumes growth, targets at $0.9000

Aave's LEND is now the best-performing digital tokens out of top-100. The coin has gained over 17% of its value in the recent 24 hours building on strong positive momentum of recent days. Aave left behind several major coins, including IOTA, Huobi Token, DASH and NEM, and settled at the 21st place in the global cryptocurrency market rating. Currently, the coin's market value is registered at $1.14 billion, and it is one of a few DeFi tokens in $1 billion league.  


Cryptocurrency Markets

Related Articles

Doge Day Ends With A Whimper Instead Of A Howl As Dogecoin Shrinks Over 20%

“Doge day” turned out to be a damp squib as Dogecoin (DOGE) failed to soar to the levels envisaged by the Doge Army. What Happened: Instead of taking off to the moon, the Dogecoin rocket came crashing down to earth. DOGE traded 21.28% lower at $0.32 at press time Tuesday night. read more

NFTs Strongly Gaining Popularity In The Cannabis Space-- PotPunks For 4/20

The following article is sponsored by PotPunks.The information contained in this article in no way represents investment advice or opinion on the part of Benzinga or its writers and is intended for informational purposes only. read more

Why Video Game Giant Ubisoft Backs Tezos Crypto Project

Ubisoft — one of the world's top video game producing studios — joined the Tezos (CRYPTO: XTZ) project as a corporate backer. read more

Exclusive: Webull CEO Talks Dogecoin Trading On 'Power Hour'

Webull added Dogecoin (CRYPTO: DOGE) to its list of cryptocurrencies available for trade as a result of customer demand, Webull CEO Anthony Denier said Tuesday on Benzinga's YouTube show "Power Hour." read more