Chainlink’s price is increasing towards $14 due to exchange outflows and supportive technical indicators. Bitcoin extends its gains over $88,000, bolstered by significant ETF inflows and institutional purchases. Altcoins, including Fartcoin and POL, are experiencing upward movements, while Ripple and Stacks solidify their market positions. Key developments in Ethereum are also noted, alongside potential tariff impacts on Bitcoin’s performance.
As of April 22, cryptocurrency Chainlink (LINK) has observed a price increase of almost 3%, trading at approximately $13.47. Following a bounce from a low of $10.13 on April 7, LINK is poised to test the $14 resistance level, although strong resistance clusters may complicate further upward movement. This trend is supported by rising exchange outflows, indicating sustained demand for the token.
Bitcoin (BTC) has also extended its gains, currently trading above $88,000 after a nearly 3% increase the previous day. Notable institutional interest is evident as US spot Exchange Traded Funds (ETFs) recorded inflows of $381.40 million. Additionally, Microstrategy’s acquisition of 6,556 BTC for $555.8 million further signifies growing institutional demand.
In the altcoin arena, noteworthy gains have been observed in several emerging tokens. Fartcoin has surged above $1.00, recovering from a prior dip due to profit-taking. The token POL, now known as POL, has rebounded, trading at $0.2195 with a bullish trend. DeepBook (DEEP) shows impressive movement, rising dramatically following its launch on the Sui Network.
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Ripple (XRP) is currently stabilising above the $2.00 support level amidst an accumulation phase by whales and decreased exchange inflows. Meanwhile, Stacks (STX) has surged by 9%, trading at around $0.76, bolstered by increasing open interest and trading volume.
ARK Invest recently diversified its portfolio by integrating Canada’s 3iQ Solana Staking ETF into its ARK Next Generation Internet and ARK Fintech Innovation ETFs. In another notable development, Ethereum (ETH) is presently facing resistance at $1,688 following a proposal from co-founder Vitalik Buterin to transition from the Ethereum Virtual Machine (EVM) to RISC-V for improved operational efficiency.
Bitcoin continues to consolidate above the pivotal $84,000 support level, while external factors, such as the potential impact of tariffs from the ongoing US-China trade war, couple with rising gold prices to affect market sentiment. Keeping an eye on broker recommendations is essential for trading EUR/USD in the dynamic forex market.
