Halving is an important event and analysts at market research firm Fundstrat Global Advisors believe that it has not yet been "Priced into" Bitcoin's price.
If the bulls can hold the price above $155.38, it will signal strength and increase the likelihood of a breakout above $188.69.
If the price turns down from the current levels or from $77.7262, the pair might remain range-bound for a few weeks.
The pair will pick up momentum on a break above $77.7262.LINK/USD. Chainlink was the third-best performer of the past seven days with a rally of over 24%. Does the current rise indicate a change in trend? Can LINK build on its strength over the next few weeks? Let's study its chart.
If the bulls succeed in pushing the price above $3, a rally to the lifetime high is likely.
Conversely, if the price turns down from $3, a few more weeks of range-bound action is possible.
This is the third consecutive week that Bitcoin Cash has been among the top performers.
The bulls are struggling to sustain the price above $270.15, which suggests a few weeks of consolidation or minor correction.
On the other hand, if the price consolidates for a few weeks close to the current levels, it will indicate strength and will increase the possibility of a move to $306.78.LTC/USD. Litecoin rounded up the list of the top five performers of the past seven days with a rally of about 18%. Litecoin's mining difficulty, which had dropped sharply in the second half of 2019, has begun rising again.
Our bullish view will be invalidated if the bulls fail to sustain the price above $50. In such a case, the pair might remain range-bound between $50 and $39.252 for a few more weeks.
Top-5 Cryptos This Week: BSV, DASH, LINK, BCH, LTC
Published on Jan 12, 2020
by Cointele | Published on Coinage
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