The crypto market is plunging down! The drop in the Bitcoin price has slashed the prices of the majority of the tokens, including Chainlink & Litecoin. Meanwhile, as the markets are trying to cope with the massive sell-offs, the bulls seem to be confident of these two top tokens. Therefore, as the prices of LINK & LTC have initiated a rebound, they are expected to lead the top gainers for the day.
Chainlink Poised to Reclaim $25
Chainlink is considered one of the strongest undervalued altcoins, which has more room to swell. The recent pullback dragged the levels from the highs above $27 to below $20 but the quick intervention of bulls has elevated the price to $22.87. The trading volume has reached close to $3 billion with a rise of over 31%, marking the growing dominance of the bulls. Therefore, the LINK price is expected to revive a strong upswing to reach the resistance above $27 if the bulls manage to secure these levels before the end of the fortnight.
Regardless of the recent pullback, the LINK price remains strong within the rising, expanding channel in the short term. The token rebounded after hitting the interim support at $20.56, indicating the bulls were vigilant. On the other hand, the OBV, the volume-based indicator, triggered a bullish divergence, suggesting the start of a bullish trend. Meanwhile, the MACD shows a drop in the selling pressure as the buying volume intensifies. Therefore, the Chainlink price is expected to rise to $24.92 in the next few hours and achieve $25 in a short while.
Litecoin Price Poised for a 15% Rebound
Ever since the breakout from the consolidation in November, the LTC price has managed to range along the ascending support and mark the yearly highs above $145. This move attracted significant bearish activity, followed by a notable sell-off. However, the token is trying to validate a rebound, intending to surge above $120 before the day’s close.
The short-term price action of Litecoin suggests the bulls have entered as the token defends the ascending support. Besides, the rebound in RSI levels also validates the claim, indicating a rise to immediate resistance at $121 may be imminent. Additionally, the +Di has reached the lower threshold and awaiting a rebound. This substantiates the bullish claim as the ADX is heading towards higher levels. Therefore, the DMI may rise and could probably undergo a bullish crossover in the next 24 to 36 hours, which may offer a strong boost to the LTC price, reclaiming $130.
