Chainlink Shows Strength with a Cup and Handle Pattern Unfolding and Fifth-Wave Momentum Building

Chainlink is showing strength with a cup and handle pattern unfolding and fifth-wave momentum building. The price is pushing toward the $31.85 mark as traders position

Chainlink price is showing strength with a cup and handle pattern now forming on lower timeframes. This setup usually presents a good opportunity for a continuation move if it holds.

On the 15-minute chart (chart above), LINK price is now testing the $15.30 to $15.50 band, which has acted as strong resistance over the past few days. From below, support is seen from $13.80 to $14.00, where traders could buy on dips.

A clean bounce above $14.00 could propel another push toward the $18 to $19 zone, which traders will be watching closely. From there, traders have an eye on higher levels.

Some analysts believe LINK is unfolding the fifth wave of a bullish cycle that could carry it to $31.85 and potentially as high as $45.50. Moreover, long positions have surged to over 64 percent of current trades, signaling traders’ conviction that LINK may be preparing for a major move.

Stellar Flips Bullish

Stellar is quickly gaining strength after breaking out of its long-term downtrend and surging past the $0.24 mark.

Now trading around $0.28, XLM has seen a weekly gain of 12.4 percent, outperforming much of the altcoin market. The price is currently consolidating just below a key resistance zone between $0.30 and $0.32.

On the chart, Stellar is forming a classic ascending channel backed by steadily increasing volume, a technical setup that usually precedes an explosive price move.

If bulls manage to break through the $0.32 to $0.31 resistance band, it could open the way for a swift rally toward the $0.56 to $0.5650 zone. However, failure to hold support at the lower channel boundary, currently around $0.24, might lead to a steeper correction.

Traders will be closely monitoring the structure above $0.32 and the strength of the buyers to push through this time.

Cold Wallet Is Gaining Attention For Its Focus On Privacy And Transparency

Cold Wallet is not another new token being launched in a bid to capitalize on the hype of the bull market. It is a fully operational privacy technology built for the blockchain age.

The project is focused on providing users with complete privacy and transparency while interacting with the Web3 space. This is becoming an increasingly important issue as institutions and governments are becoming more interested in monitoring cryptocurrency transactions.

Cold Wallet is powered by advanced zero-knowledge technology, which enables users to perform actions like balance checks, transactions and more without revealing any personal information. It is also free from any tracking scripts, metadata leaks or behavioral patterns that could be used to identify individuals.

This makes it ideal for users who are concerned about the increasing levels of surveillance in the digital age. It is also being built with a long-term perspective, which is evident in the diverse use cases being developed for the $CWT token.

Currently in Stage 9 of its presale, the token is available at a price of $0.0082. At this stage, the project has already launched its mainnet product, showcasing its commitment to delivering real-world utility.

As one of the few coins entering Stage 9 of its presale, Cold Wallet offers an interesting opportunity for investors seeking exposure to the crypto market in 2023.