The past week has seen significant movement among altcoins, with Chainlink (LINK) rising nearly 20% to reach its highest price since November 2021.
In contrast, dogwifhat (WIF) is down 20%, falling below the $3 billion market cap threshold and approaching its lowest levels since mid-November. Similarly, mog coin (MOG) is down 19%, slipping to the 8th spot among the largest memecoins and facing the risk of being overtaken by assets such as PEANUT and POPCAT.
Chainlink (LINK)
Chainlink has surged nearly 20% over the past week to reach $30.94, its highest price since November 2021. This rally highlights strong buying pressure and renewed investor interest, positioning LINK for potential further gains if the current trend continues.
In this regard, the EMAs show that the uptrend remains strong, while the RSI at 57 indicates healthy momentum without being overbought. This suggests that the altcoin has room for further growth, supporting the bullish narrative for now.
LINK Price Analysis. Source: TradingView
If LINK breaks the $31 resistance, it could test $35 next. However, if the trend reverses, the support levels at $27.4 and $22.4 could come into play, providing a buffer against deeper declines.
Dogwifhat (WIF)
The price of WIF has fallen by around 20% over the past week, now sitting at a market cap of $2.65 billion. This decline reflects significant downward pressure, pushing the memecoin to its lowest levels since mid-November.
Despite being the fourth-largest memecoin, WIF is at risk of losing its position to BONK, as the market cap difference between them is only $400 million. Continued underperformance could see this ranking change soon.
WIF Price Analysis. Source: TradingView
WIF’s EMA lines are bearish, with short-term averages below the long-term ones and the price trading below all key levels. If the downtrend persists, WIF could test the support at $2.5, with further declines possibly reaching $2.19.
Mog Coin (MOG)
MOG has fallen 19% in the past week, slipping to the 8th spot among the largest memecoins. It risks being overtaken by other altcoins like PEANUT and POPCAT if the bearish trend continues.
The short-term EMA lines for MOG are declining and may soon cross below the long-term ones, forming a death cross, a strong bearish indicator. This suggests that the current correction may deepen for the altcoin.
MOG Price Analysis. Source: TradingView
If the death cross forms, MOG could test supports at $0.00000267 and possibly drop further to $0.0000020. A trend reversal, however, could see it challenge resistance at $0.0000033.
The article 3 Altcoins to Watch This Week appeared first on BeInCrypto Brasil.
