With the Bitcoin price jump sparking a bull run in the altcoins market, the investors are on a buying spree. Fueling the surge in multiple coins, VeChain, Chainlink, Polkadot, and many others are in the limelight.
With Chainlink (LINK) and Polkadot (DOT) ready for a jump to prolong the prevailing uptrend, the bullish potential is huge in them. Further, the DeFi Space shows a sharp recovery as the total TVL reaches $73.45B.
As the markets are heading to new highs, let’s have a look at LINK and DOT price charts for a high-momentum trend reversal rally.
Will Chainlink Price Jump From $20?
With a bullish breakout of a long consolidation, the LINK price regains the trend momentum for an uptrend. Reaching the $20 mark, the Chainlink rally takes a short pause above the 61.80% trend-based Fib level.
Source: TradingView
Ranking as the 11th biggest crypto per market cap, Chainlink is closing to the $12 Billion mark. Further, Telefonica, a prominent telecommunications company in Spain, has opted to utilize Chainlink’s technology.
The MACD indicator, on the other hand, shows a potential bearish crossover as the LINK price consolidates. Thus, a short correction is possible if the market hits pause on the bull run.
With the technical charts and market sentiments screaming a bull run, the LINK price could top $25 per trend-based Fib levels. On the flip side, a drop under $19.73 can test $18.47.
Is Polkadot Ready For A New Peak Above $10?
With a bullish bounce back from a multi-contact support trendline, the DOT price continues the uptrend. The recent reversal accounts for a 24% jump in the last 24 days and challenges the upper Bollinger band.
Thus, the ongoing bull run comes with huge momentum and reclaims the 23.60% trend-based Fib level at $7.62. Moreover, the reversal rally teases a rounding bottom breakout with a neckline at $8.43, coinciding with the 38.20% Fib level.
Source: TradingView
With a $10B market cap, Polkadot comes as the 13th biggest crypto and is rising the ranks at a quick pace. Further, the network growth for Polkadot comes as a healthy bonus to fuel the token’s market value.
The MACD indicator supports the uptrend in DOT prices and reflects a rise in trend momentum.
As per the technical analysis, Polkadot can reach the $10 mark in the coming weeks. Further, the recent $7.62 breakout signals an entry spot with a target of $8.43. Upon this breakout, the path to $10 is of lesser resistance for Polkadot.
