Solana, Chainlink Price Analysis: September 3, 2021

By John Isige
Published September 3, 2021 Updated September 3, 2021
Best Buy In

Exchanges

Sportsbook

Wallet

Solana, Chainlink Price Analysis: September 3, 2021

By John Isige
Published September 3, 2021 Updated September 3, 2021
  • Solana springs to a new all-time high at $136; investors believe the rally is far from over.
  • Chainlink steps above $30 for the first time in September as the mission to $40 gains momentum.

Bitcoin bulls stepped up their game on Thursday, leading to a price increase above $50,000. As reported earlier, the upswing was short-term because BTC retreated, almost testing support at $48,000.

In the meantime, Ether stalled before rising to $4,000, but its upward momentum is not entirely lost. Hence, Ethereum may still trade above the psychological level during the weekend. The rest of the market is mainly green, but crypto assets post-minimal gains as per CoinGecko’s live price data.

Solana:-

Solana exploded to the moon again, roaring to a new all-time high for the second time in the same week. This altcoin has put up an impressive show in the ongoing bull cycle to the extent of hitting a new record high at $136.

Earlier in the week, Solana’s rally took a breather at $130, followed by a correction to $100. However, the token did not stay down for long. Hence it has gained ground toward $130 by the end of Thursday.

Following the launch to a new all-time high, Solana is trading at $134. It has accrued 19% in gains over 24 hours and 77% in seven days. Solana boasts a trading volume of $5.5 billion and a market cap of $39 billion.

A correction will likely occur in the coming session, especially if the Relative Strength Index (RSI) exits from the overbought area. Support is expected at $130 (the previous ATH) and $120, respectively. Besides, the Moving Average Convergence Divergence (MACD) still spots a bullish impulse, according to the four-hour chart.

SOL/USD Four-Hour Chart

SOL/USD price chart
SOL/USD price chart by Tradingview

Chainlink:-

Chainlink, like Solana, has been on a north-bound mission in the wake of the short-term losses in August to $24. This support allowed bulls to regroup and gain traction to $30.

The live price data oracle token came short of missing the high achieved last month but extended the bullish leg to $30.89. Meanwhile, the challenge is to keep LINK above $30 and allow bulls ample time to execute the mission to n$40.

LINK/USD Four-Hour Chart

LINK/USD price chart
LINK/USD price chart by Tradingview

The short-term technical outlook is still bullish, fronted by the RSI’s position slightly above the 70. A bullish impulse from the MACD suggests that buyers have the upper hand, and Chainlink will potentially lift the price higher.

advertisement

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
John Isige
1152 Articles
John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige

Loading Next Story