Here’s How Bitcoin (BTC), Ethereum (ETH), and Chainlink Price Will Perform This Week
The bears have yet again regained control over the crypto market, causing the major assets to bleed.
A crypto strategist and trader, Altcoin Sherpa, who is well-known for his accurate altcoin predictions, predicts a correction phase for Bitcoin (BTC) and Chainlink (LINK).
Bitcoin (BTC) Price Analysis
The strategist informs his 181,900 followers over Twitter that after Bitcoin’s recent drop from $21,800 to below $20,000, the future does not appear bright for the asset.
As per the analyst, Bitcoin will not touch the $23,000 range anytime soon and will also lose the $19,000 area to finally trade at $17,000.
$BTC: Things are looking heavy, 19k is the next area up if this key level dies. #Bitcoin — Altcoin Sherpa (@AltcoinSherpa) August 26, 2022
At the time of publication, Bitcoin is changing hands at $19,810, after a pullback of 1.07% over the years.
Chainlink (LINK) Price Analysis
The next currency under the analyst’s radar is Chainlink (LINK). The trader claims that if the first two cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), face another downward movement, LINK will shed more than 30%.
The analyst also claims that this might be either an accumulation or a break before the next downfall. Also, all the altcoins’ movement will depend on BTC/ETH. Hence, Chainlink might decline towards the $4.50 level.
$LINK: this has ranged for 3 months now, still unsure if this is accumulation or just pause before another breakdown. As with all altcoins, it's going to depend on btc/eth – if those break down, this is going to like $4.50 #Chainlink — Altcoin Sherpa (@AltcoinSherpa) August 26, 2022
Currently, Chainlink is trading at $6.36 after a drop of 2.28% over the last 24hrs.
Ethereum (ETH) Price Analysis
Altcoin Sherpa also discussed the ETH price.
According to the strategist, $1,800 plays an important price area for the lead altcoin.
$ETH: These monthly levels are still holding overall, still expecting higher than current prices in the short term. $1800 is a key level IMO. #Ethereum $ETHUSD — Altcoin Sherpa (@AltcoinSherpa) August 26, 2022
At the time of writing, Ethereum has plunged by 2.51% over the last 24hrs and is trading at $1,448Source