Chainlink has experienced a small fall of 0.62% over the last 24 hours, according to the 1-hour technical chart of the coin. Yet according to CoinMarketCap, the coin has grown impressively over the past week, by 7.54%, which is pretty noteworthy. With a market capitalization of $4,000,567,978 and a market rank of 20 in the cryptocurrency sector, Chainlink has the potential to see big price changes.
LINK/USDT 1-hour Technical Analysis
Another piece of evidence that the bulls are currently in control of the market is the fact that the coin has been trading above the 200-day moving average. While traders wait to see how the market develops, LINK may drop to the next support level at $7.345 if it is unable to hold this 200-day moving average in the 1-hour timeframe.
Another highly performing coin in the 7-days period is Solana. Although Solana has been crashing since the FTX crash, the asset seems to be back in the game reversing from the $8.02 price level since December 2022. Solana has had a price increase of 5.11% in the past 7 days.
Solana/USDT 1-hour Technical Analysis (Source: TradingView)
According to the 1-hour chart above, Solana has been fluctuating near the 200-day moving average. Solana doesn't seem to find a clear path to head on at this point. If it can clearly have its stand above the 200-day MA level, we can expect Solana's price to bounce back to the $30 level. However, if the bears are still in control, a break below $22 can be seen.
DOT/USDT 1-hour Technical Analysis (Source: TradingView)
The last 7-day top-performing coin in the market is Polkadot with a 7-day increase of 3.88%. DOT is trading at $7. However, DOT seems to break its 200-day MA in the 1-hour chart stated above. If DOT follows the downtrend of Bitcoin these days, a possibility of DOT breaking its $6.6 price level can be seen. If DOT tends to reverse from here, DOT can reach as high as $7.5 according to the technical analysis.
However, investors should take note of the confirmation patterns and indicators before taking the trade for a better risk-to-reward ratio.
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