ChainLink, Solana Price Forecast: LINK Bullish Trend Emerges Amid October’s Close

Key Insights

• Macroeconomic shifts, bank stability concerns, and institutional engagement drive Bitcoin’s 2023 volatility.
• Billionaire Stanley Druckenmiller endorses Bitcoin, elevating its market perception.
• Robert Kiyosaki advocates for a heavy allocation towards Bitcoin amid an expected financial crash.
• Cosmos (ATOM) trades at $7.90; bullish trend above $7 noted.
  Arbitrum (ARB) faces a bearish tone below $0.9850.

Quick Fundamental Outlook

Bitcoin experienced a 30% surge in October, going from $26,900 to $34,300, and historic data hints at even stronger growth in November. Factors influencing Bitcoin’s volatility in 2023 include concerns over bank stability, macroeconomic shifts, and rising institutional engagement.

The expected Bitcoin halving in about six months and the popularity of exchange-traded funds (ETFs) are also drawing investor interest. With the potential approval of Bitcoin ETFs by the US SEC, the market is bullish, with some even anticipating a prosperous “Movember.”

Billionaire investor Stanley Druckenmiller has praised Bitcoin’s brand strength, suggesting it’s a worthy wealth store, especially for the younger generation. This endorsement amplifies the positive market outlook.

Robert Kiyosaki, the renowned author, advises investors to allocate 25% in real estate and energy stocks and 75% in gold, silver, and Bitcoin to navigate an anticipated major financial crash. His persistent support for cryptocurrencies, especially Bitcoin, further bolsters its market perspective.

ChainLink Price Prediction

ChainLink (LINK/USD) wraps up October 31 at $11.25, marking a slight rise of 0.48% within a 4-hour chart timeframe. The asset’s pivot point settles at $11.03, with immediate resistance at $11.74, followed by levels at $12.16 and $12.49. Conversely, immediate support is found at $10.72, leading to subsequent levels at $10.35 and $9.85.

The Relative Strength Index (RSI) stands at 53, signifying a marginally bullish sentiment as it hovers just above the neutral mark of 50. The asset’s price surpasses its 50-Day Exponential Moving Average (EMA) of $11, signaling a short-term bullish trend.

Chart analysis reveals an ascending triangle pattern with support at $11.20, juxtaposed with a triple top resistance at $11.75. Typically, ascending triangles forecast an upward breakout.

In conclusion, ChainLink exhibits a bullish trend above $11.025. The asset is poised to challenge the resistance levels in the near term.

Cosmos Price Prediction

On October 31, Cosmos (ATOM/USD) is priced at $7.90, showing a modest gain of 0.48% within a 4-hour chart scope. This digital asset finds its pivot point at $7.66. Notably, the immediate resistance lies at $8.3, a level that previously served as a support in June and August. Further resistances are spotted at $9.00 and $9.65.

On the downside, immediate support hovers at $6.95, coinciding with the 50 EMA level. Subsequent supports are noted at $6.25, where a double bottom pattern emerges, and then at $5.55.

The RSI reads 70, indicating that the asset is currently in overbought territory. Meanwhile, with the asset’s price above its 50 EMA of $7, there’s a hint of a short-term bullish trend.

The charts reveal a bullish breakout from a falling wedge pattern at $6.90, suggesting an emerging buying trend.

In conclusion, Cosmos manifests a bullish trend when positioned above $7. In the coming days, we can anticipate Cosmos to challenge and possibly breach the aforementioned resistance levels.

Arbitrum Price Prediction

For October 31, Arbitrum (ARB/USD) is trading at $0.92, marking a decline of 4.50% on a 4-hour chart. The asset is currently wrestling with a pivot point at $0.9856, which is characterized by a double top pattern and a downward trendline, acting as a strong resistance.

The immediate resistance level is placed at $1.0419, followed by further resistances at $1.1054 and $1.1961. On the flip side, immediate support is found at $0.8695, with subsequent levels at $0.7606 and $0.6844.

The RSI stands at 58, suggesting a slightly bullish sentiment. Meanwhile, the price is slightly above its 50 EMA value of $0.8822, hinting at a nascent bullish trend. However, the daily chart exhibits a downward trendline and a double top pattern, capping the upside momentum near the $0.986 mark.

A breakout above this level could trigger aggressive buying, but below it, ARB might face selling pressure. In conclusion, Arbitrum is bearish below $0.9850.

In the short term, if the asset continues its current trajectory, it could potentially test the immediate resistance levels.

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