P2E Battle Token Crosses $150k in Presale, Chainlink Ends Fall on Weekly Timeframe
Chainlink ( LINK ) completed a bullish falling wedge pattern on the weekly timeframe, gaining nearly 14% over the past week and trading at $7.418 for $2.70 million.
Additionally, Meme Kombat's Battle Token surpassed $150k in presale. The crypto community closely monitors potential market changes and opportunities.
Chainlink (LINK) price forecast
Turning our attention to the daily chart, several key price levels are highlighted. LINK's pivot point is firmly set at $7.418.
Key Price Levels: On the upside, resistance levels are marked at $9.066, $9.957, and $12.494. On the downside, support can be found at $6.549, followed by strong supports at $4.901 and $2.385.
Indicators Signal Potential Price Correction: As far as technical indicators are concerned, the RSI (Relative Strength Index) presents an interesting picture. The current price is 72, which shows that Chainlink is in overbought territory. Such a high RSI typically indicates a potential price correction in the near term.
MACD (Moving Average Convergence Divergence), another important indicator, has a value of 0.146 with a signal line of 0.455. This formation suggests that there may be downside potential on the horizon.
However, on a positive note, Chainlink's price is trading above the 50-day exponential moving average (50 EMA) at $6.849, indicating a short-term bullish trend.
Examining the chart patterns, Chainlink is currently battling the lower trendline resistance at $8.253. A successful bullish breakout above this level could pave the way for a bullish rally targeting the next resistance levels.
Conversely, any failure to hold above this price point could create selling pressure, which could drag LINK's price down.
Summary
In conclusion, Chainlink Express futures seem to be hanging in the balance at $8.253. A sustained push above this level could open the door to higher levels, while any pullback below this mark could indicate bearish sentiments.
Meme Kombat: The latest Web3 gaming platform that has earned $165,000 in pre-sales
Combining meme concepts with a fighting game, Meme Kombat is a new entry that guarantees players two sources of income – active and residual.
The token's APY is currently at an impressive 112 percent. The financial framework of the project is centered around the Meme Kombat Token ($MK), as highlighted in the white paper.
Staking is one of the main features of the Meme Kombat platform, providing cryptocurrency enthusiasts with a reliable source of income through APY.
Users can securely connect their crypto wallet to the platform and register their $MK tokens. A portion of the token supply equal to 30% is reserved to capture and reward players in the game.
This strategy encourages users to hold their tokens by promoting stability. After the initial 14-day staking period, users can continue to withdraw or freeze their tokens to continue receiving APY benefits.
Several features are set to launch on the platform from October to November 2023.
One of its main features is the original work of Meme Kombat Season 1, which aims to keep players interested. Gamers can look forward to the release of Meme Kombat 2 in late 2023, which will come with enhanced gameplay features.
Visit Meme Kombat here
Disclaimer: Crypto is a high risk asset class. This article is provided for informational purposes and does not constitute investment advice. You can lose all your capital.
