Over the past week, strong movement has occurred in altcoins, as Chainlink (LINK) surged nearly 20%, reaching its highest price since November 2021, fueled by strong buying pressure.
In contrast, dogwifhat (WIF) has dropped 20%, falling below the $3 billion market cap and is approaching its lowest level since mid-November. This price decline reflects a significantly gloomy situation. . Similarly, Mog Coin (MOG) fell 19%, slipping to 8th place among the largest Meme Coins and facing the risk of being overtaken by altcoins like PEANUT and POPCAT.
Chainlink (LINK)
Chainlink price increased nearly 20% over the past week, reaching $30.94, its highest price since November 2021. This rally confirms strong buying pressure and investor interest, fueling the possibility further growth for altcoins if this momentum is maintained.
The EMA shows that LINK’s uptrend remains strong, while the RSI at 57 shows healthy momentum without being overbought. This indicates that LINK still has growth potential, reinforcing the bullish story at the present time.
If LINK breaks above the $31 resistance, a test of $35 could be possible next. However, if the trend reverses, the support levels at $27.4 and $22.4 could act as a buffer against a deeper decline.
dogwifhat (WIF)
WIF price has dropped about 20% in the past week, falling below the $3 billion market capitalization threshold and is currently at only $2.65 billion. This decline reflects extremely negative pressure, dragging WIF to its lowest level since mid-November.
Despite being the 4th largest Meme Coin, WIF is at risk of losing its position to BONK, with a market capitalization gap of only 400 million USD. Continued underperformance could see this ranking change in the near future.
WIF’s EMAs are showing a bearish bias, with the short-term average below the long-term and the price trading below every key level. If the downtrend continues, WIF could test support at $2.50, with a deeper decline to $2.19 possible.
Mog Coin (MOG)
MOG is down 19% over the past week, sliding to 8th place among the largest Meme Coins. It risks being overtaken by other altcoins such as PEANUT and POPCAT if the downtrend is prolonged.
MOG’s short-term EMAs are falling and could soon cross the long-term ones, forming a dead cross, a strong bearish indicator. This shows that the current correction could deepen for this altcoin.
If the dead cross forms, MOG could test the support levels at $0.00000267 and potentially a deeper decline to $0.0000020. However, a trend reversal could see it challenge the resistance at $0.0000033.