analysis, chainlink, ethereum classic, link

Ethereum classic was trading close to its highest point since April, as the token rose by nearly 10% on Friday. Despite crypto markets being mostly in the red in today’s session, a handful of tokens managed to climb higher. Chainlink was another one of these tokens, as it hit a two-month high earlier in the day.

Ethereum Classic (ETC)

Etherum classic (ETC) was trading close to a four-month high in today’s session, as the token extended recent gains.

Following three consecutive days of gains, ETC/USD rallied to an intraday high $44.31 on Friday.

This comes less than 24 hours after the token was at a low below $38.00, and it’s now climbing towards a recent high of $45.40.

analysis, chainlink, ethereum classic, link

ETC/USD – Daily Chart

Looking at the chart, this peak at the $45.40 area is the most ETC has hit since April 7, which came days after prices fell below $50.00.

As of writing, ethereum classic has now marginally declined, and is currently trading at $42.04.

This comes as the relative strength index (RSI) of 14 days collided with a resistance level of 71, which is the highest point since July 31.

Should ETC bulls intend to recapture those multi-month highs, then this is an obstacle that must be overcome.

Chainlink (LINK)

In addition to ETC, chainlink (LINK) was trading higher in today’s session, as prices climbed to their highest point since June.

After residing at a floor of $8.85 on Friday, LINK/USD surged to a high of $9.43 earlier in today’s session.

analysis, chainlink, ethereum classic, link

LINK/USD – Daily Chart

This peak saw LINK trade at its most since June 9.

As seen on the chart, the move came as price strength gained momentum, with the RSI breaking out of its ceiling at 71.

Currently the indicator is at a reading of 72.24, which is its highest point since September 2021.

This could be an issue for bulls in their attempts to reach $10.00, due to prices currently being overbought.

Register your email here to get weekly price analysis updates sent to your inbox:

Can chainlink hit $10.00 despite being overbought? Let us know your thoughts in the comments.

TECH NEWS RELATED

Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower as Powell Claims There Are 'Structural Issues' With Cryptocurrency

Bitcoin was back in the red on Wednesday, as U.S. Federal Reserve Chair Jerome Powell called for more regulation in decentralized finance (defi), citing “structural issues” as a key reason. The token fell below $19,000 on the comments, moving closer to a key support point as a result. Ethereum ...

View more: Bitcoin, Ethereum Technical Analysis: BTC, ETH Lower as Powell Claims There Are 'Structural Issues' With Cryptocurrency

Australia Issues White Paper for Central Bank Digital Currency

Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 ...

View more: Australia Issues White Paper for Central Bank Digital Currency

InVar Finance Builds InVaria2222 as the Team Looks to Provide Hybrid Finance Services

press release PRESS RELEASE. InVar Finance has recently built InVaria2222, the RWA tokenization world, which is currently in its first stage. InVar intends to create hybrid financial services by bridging the crypto sector with the real economy, such as TradFi with DeFi and RWA tokenization, which pertains to real-world ...

View more: InVar Finance Builds InVaria2222 as the Team Looks to Provide Hybrid Finance Services

California Launches Crackdown on 11 Crypto Firms Accused of Operating Ponzi Schemes

The California Department of Financial Protection and Innovation (DFPI) has cracked down on 11 cryptocurrency companies that are accused of violating California securities laws. Nine of the firms reportedly solicited funds from investors in order to trade cryptocurrencies on the customer’s behalf. One of the accused companies pitched an ...

View more: California Launches Crackdown on 11 Crypto Firms Accused of Operating Ponzi Schemes

Supply Chain Summit: Golden era of globalization ends while ESG comes into limelight

On the second day of the DIGITIMES Asia-hosted Supply Chain Summit, experts shed light on ESG compliance challenges on the global supply chain. Harvard Business School professor Willy Shih and Cathy Lee, VP of Risk Advisory Services at Deloitte Touche Tohmatsu urged industries to pay serious attention to the implications ...

View more: Supply Chain Summit: Golden era of globalization ends while ESG comes into limelight

Supply Chain Summit: Windbond set to reap big in high-capacity flash memory for car uses

The memory industry is being greatly affected by the cyclical fluctuations of the economy, but automotive and industrial control applications have become the mainstay for NOR and NAND flash products, with high-capacity ones particularly gaining ground in such applications, according to William Chen, deputy director of flash memory planning ...

View more: Supply Chain Summit: Windbond set to reap big in high-capacity flash memory for car uses

Binance Seeks License to Reenter Japanese Crypto Market After Exiting 4 Years Ago: Report

Crypto exchange Binance is reportedly seeking to reenter the Japanese crypto market. The company exited Japan four years ago after the country’s financial regulator warned that Binance was operating illegally without a license. Binance Wants Back in Japan Crypto exchange Binance is seeking a license to return to the ...

View more: Binance Seeks License to Reenter Japanese Crypto Market After Exiting 4 Years Ago: Report

LBank Exchange Will List Genesis Token (GTN) on September 29, 2022

press release PRESS RELEASE. INTERNET CITY, DUBAI, Sep. 28, 2022 – LBank Exchange, a global digital asset trading platform, will list Genesis Token (GTN) on September 29, 2022. For all users of LBank Exchange, the GTN/USDT trading pair will be officially available for trading at 10:00 UTC on September ...

View more: LBank Exchange Will List Genesis Token (GTN) on September 29, 2022

Bitdeer Sets Up $250M Fund to Acquire Assets From Financially Distressed Bitcoin Miners

Fed Chair Powell Sees 'Real Need' for More Appropriate Defi Regulation Citing 'Very Significant Structural Issues'

South Korea Seeks to Freeze 3,313 Bitcoin Allegedly Linked to Luna Founder Do Kwon

Frankfurt's Euro Sculpture Is Saved by New Sponsor CAIZ Development

Celsius CEO Alex Mashinsky Resigns Amid Tumultuous Bankruptcy Proceedings

Russian Exchanges Ready to Launch International Crypto Payments, Lawmaker Reveals

Robinhood Debuts Web3 Crypto Wallet to 10K Customers — Beta Version Supports Polygon

Posh Markets Inc․ to Launch the Presale of PoshCoin, the Newest Cannabis Crypto Coin

Research Finds Bitcoin Mining Equates to 0.10% of Global Greenhouse Gas Emissions

Biggest Movers: LINK Hits 6-Week High, UNI up 16% on Tuesday

Space and Time Secures $20 Million Strategic Funding Led by Microsoft’s M12 to Automate the World’s Business Logic

Mature Bitcoin Wealth Taps an All-Time High — Diamond Hands Trend Highlights ‘Refusal to Spend’

OTHER TECH NEWS

Top Car News Car News