The cryptocurrency market is losing its value this Tuesday, Bitcoin is trading below $42000, and the risk of another decline is not over. This situation also negatively influences Polkadot DOT/USD, Dogecoin DOGE/USD, and Chainlink LINK/USD.
Investors should consider that if Bitcoin falls below the $40000 support, the prices of these three cryptocurrencies can weaken even more.
Дали барате брзи вести, топли совети и анализа на пазарот?
Пријавете се за билтенот Invezz, денес.
The International Monetary Fund recently reported that the impressive growth of cryptocurrencies in the last year has come with the unintended consequences of a “contagion across financial markets.” The International Monetary Fund warned:
Given their relatively high volatility and valuations, their increased co-movement could soon pose risks to financial stability, especially in countries with widespread crypto adoption.
Mike Novogratz, CEO of Galaxy Digital, said this week that the outlook for the cryptocurrency market remains bearish due to the fact that the Federal Reserve could raise interest rates at least three times this year to fight persistent inflation.
Monetary tightening is usually seen as a drag on risky assets, and according to Mike Novogratz, the cryptocurrency market would underperform in early 2022 due to stock market weakness.
According to data from on-chain analytics platform CryptoQuant, more than 30,000 BTC worth $1.3 billion was withdrawn from crypto exchanges on January 11.
DOT is trading close to $20 support level
Polkadot (DOT) has weakened from $55 to $22.4 since November 04, and the current price stands at $24.7.
Ако цената го скрши нивото на поддршка на 20 долари, тоа би бил многу силен сигнал за „продажба“, а следната цел може да биде околу 15 долари.
Polkadot remains in a bear market, and traders should use “stop-loss” and “take profit” orders when opening their positions because the risk is currently high.
DOGE remains under pressure
Ако цената падне под моменталната поддршка која изнесува 0.15 долари, тоа би бил силен сигнал за „продажба“, а следната цел може да биде околу 0.13 долари.
Ризикот од понатамошни падови веројатно не е завршен, но ако цената скокне над 0.25 долари, имаме отворен пат до 0.30 долари.
LINK has support at $20
Chainlink has weakened from $38 below $20 since November 09, 2021, and the current price stands at $22.4.
The current support level for LINK stands at $20, and if the price falls below it, the next price target could be around $18 or even below.
Од друга страна, ако цената скокне над отпорот од 30 долари, тоа би бил силен сигнал за „купување“ и имаме отворен пат до 35 долари.
Резиме
The cryptocurrency market is losing its value this Tuesday, and according to Mike Novogratz, CEO of Galaxy Digital, the outlook for the cryptocurrency market remains bearish due to the fact that the Federal Reserve could raise interest rates at least three times this year. Polkadot, Dogecoin, and Chainlink can weaken even more if the negative trend continues, and investors should consider that if Bitcoin falls below the $40000 support, it would add further pressure to the whole cryptocurrency market.
Каде да се купи сега
За да инвестираат едноставно и лесно, на корисниците им е потребен брокер со ниски хонорари со досегашна сигурност. Следните брокери се високо оценети, признати низ целиот свет и безбедни за употреба:
- Ето, доверба од над 13 милиони корисници ширум светот. Регистрирај се овде>
- битФлиер, едноставен, лесен за употреба и регулиран. Регистрирај се овде>
Source: https://invezz.com/news/2022/01/18/polkadot-dogecoin-chainlink-price-analysis-roundup/