Dash, Chainlink, IOTA price analysis roundup

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Dec 22, 2020
Updated: Dec 23, 2020
  • All major cryptocurrencies have advanced this Tuesday
  • Dash, Chainlink, IOTA remain in a bull market
  • Coinbase announced that it had submitted a draft registration statement to U.S. Securities Commission

The cryptocurrency market remains in the bull zone, and this situation also supports the price of Dash, Chainlink, and IOTA. Bitcoin has found strong support above the $20 000 level, but some analysts say that the correction could be around the corner.

The negative news is that Ripple (XRP) has weakened more than 20% after the company confirmed it expects to be a subject of a lawsuit by the Securities and Exchange Commission (SEC).

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It is also important to mention that Coinbase submitted a draft registration statement to the U.S. Securities and Exchange Commission, signaling its intent to go public. “Coinbase Global, Inc. announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”). The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions,” the firm announced on December 17th.

Dash (DASH) is trading again above the $100 level

Dash has been moving in an uptrend since the beginning of November, and for now, there is no signal of the trend reversal. Most professionals predict the bright future for this cryptocurrency, but there is still a level of uncertainty surrounding the Dash project.

Data source: tradingview.com

On this chart, I marked important resistance and support levels. The important support levels are $100 and $90; $110 and $120 represent the resistance levels.

If the price jumps above $110, it would be a signal to buy Dash, and we have the open way to $120. On the other side, if the price falls below $90, it would be a strong “sell” signal and the trend reversal sign.

Chainlink (LINK) remains in a buy zone

Chainlink’s (LINK) price has advanced from $10 above $16 in less than forty days, and the current price stands around $12.5. The critical support levels are $12 and $11, $14 and $15 represent the resistance levels.

Data source: tradingview.com

There are some obvious risks when it comes to buying Chainlink (LINK) this December, but if the price jumps again above $14, that will confirm the bullish trend.

IOTA price is still not able to surpass the $0.40 resistance

IOTA(MIOTA) has found strong support above $0.30, and the current price level represents good value for what you pay. According to analysts, this cryptocurrency is still undervalued, and IOTA could reach a new price record in the coming years.

Data source: tradingview.com

According to the rules of technical analysis, the current trend of this cryptocurrency is neutral-bullish. The important resistance levels are $0.35 and $0.40; $0.25 and $0.20 represent the current support levels.

If the price jumps above $0.35, it would be a signal to buy IOTA, and the next price target could be around $0.40 or even $0.50.

Summary

The cryptocurrency market remains in the bull zone, and this situation also supports the price of Dash, Chainlink, and IOTA. Coinbase announced that it had submitted a draft registration statement to the U.S. Securities and Exchange Commission, which is positive news for the cryptocurrency market.

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