Solana, Chainlink Price Analysis: September 3, 2021

Solana, Chainlink Price Analysis: 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

    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

    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.

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