Chainlink (LINK) Fails To Cross $12, Will It Start The New Downtrend?

Trading near the breakout zone of $11.50, Chainlink (LINK) has again pulled back to the $11 level near the 10-day moving average.

Chainlink (LINK) price again failed to cross the $12 mark as it faced strong resistance at the upper level. After several attempts to break out from the $11.5 resistance zone, Chainlink has again pulled back to the $11 level, indicating a lack of follow-through selling pressure.

Meanwhile, Render and DTX Exchange (DTX) made headlines last week with their impressive price moves. Render soared by 28% in the last seven days, while DTX Exchange crossed the $2.7 million mark in its presale. Chainlink investors are showing interest in these trending coins, which could potentially generate high returns in the future.

Chainlink (LINK) Price Fails To Cross $12, Will It Start The New Downtrend?

After failing to break out from the $11.5 resistance level in the last two weeks, Chainlink (LINK) has disappointed investors with sluggish momentum. However, the lack of follow-through selling pressure after being rejected from the upper level is an interesting observation in Chainlink, indicating that traders are hesitant to sell at lower levels.

After failing to break out from the $11.7 – $10.5 range, Chainlink is again trading in the same zone. Now, a breakout or breakdown from this range will decide the further momentum of the Chainlink price. In case of a breakout from the upper range, $12.6 could be the next target, while in a downtrend scenario, $10.3 is the central demand zone.

Also, the 10-day moving average is giving strong support to the Chainlink price, so it will be crucial in a downtrend. Moreover, Chainlink investors are now diversifying into Render and DTX Exchange, which are showing good momentum in the market.

Render Gives Strong Breakout With High Participation

After being rejected twice from the descending trendline in the last month, Render finally broke out on Monday with a strong bullish candle. The volume associated with the breakout candle is also high, indicating high buyer participation in the coin.

After being in a downtrend since March, Render seems to be reversing now with the formation of a head-and-shoulder reversal pattern. Now, the price is trading in the last phase of the bullish formation.

According to coinmarketcap, Render is positioned at #29 with a market cap of $3.1 billion. The Render token is currently close to the total supply and will be maxed out in the coming months. The most important level for Render is $7 because it has worked as support previously and will now be a resistance level if the price reaches it.

DTX Exchange (DTX): Top Contender For Biggest Exchange In The World

Combining the strengths of both centralized and decentralized exchanges, DTX Exchange is a new player that’s set to tackle key issues in the traditional global trading market with its hybrid trading model, offering a one-stop platform for all types of traders.

Recently launching its own L1 blockchain, which will serve as the platform's foundation, this new hybrid trading platform boasts fast transaction speeds, no KYC checks, and complete privacy.

With over 120,000 asset classes, including stocks and cryptocurrencies, DTX provides buyers and sellers with an extensive range of options. Covering forex, equities, and crypto markets, DTX Exchange caters to all trading needs. It bridges the gap between traditional finance and Web3, ensuring decentralized finance gains wider global acceptance.

With its innovative features and strong investor interest, DTX is emerging as a top contender in the crypto space. The exchange is close to hitting its $3 million presale target, with over $2.5 million already raised at $0.06 per token.