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LINK/USD market finds a new higher support level

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Maker Price Analysis October 4th: MKR/USD breaks out of the downtrend

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Chainlink Price Analysis October 4th: LINK/USD Market Finds New Higher Support Level

The Link / USD The market found fresh support at the price level of $7.874,431. This level is above the previous support level of $6.960,214. Chainlink price may be preparing for a bullish breakout. But first, we should expect its entry into consolidation. After the price range period, the price can break through the new trend

Market price statistics to link:

  • Link/ Price in US dollars now: 7,5576,443 dollars
  • Link/ Market capitalization of the US dollar: $3,763,078,160
  • Link/ Circulating supply in USD: 56,547,601
  • Link/ Total supply in USD: 114,855,860
  • Link / USD Currency Market Ranking: #191

main levels

  • Resistance: $7.6923,153, $8,000,000, and $8,1355430
  • Support: $7.1253,961, $7.0000000 6.8677055

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Chainlink Market Price Analysis: An Indicators View

Chainlink price action forms a symmetrical triangle pattern. Resistance and support diminish as the market advances. Soon, this market development will culminate in a decisive post-consolidation breakout.

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Chainlink price has rejected multiple times at the $8.00000 resistance level. With the price action continuing to test this level, there is a possibility that it will break through it soon. The MACD line reverses in response to market behavior. It was officially in an uptrend before it changed direction down. But it is now reversing to the upside. The RSI line is also retreating to the strong market area at 51%.

Chainlink Price Analysis October 4th: LINK/USD Market Finds New Higher Support Level

LINK / USD 4 Hour Chart Forecast

Today’s first 4-hour session opened with a very strong bullish momentum. The first session candlestick is known as marubozu which is very important in a market with high buying pressure. In the second session, the momentum decreases when the bears start entering the market. The RSI and the signal line are still measuring a sub-zero signal, while in the daily chart, the line did not reach the sub-zero level of the indicator before reversing back to the upside. The MACD line is now also reversing.

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Blockchain

Ripple is filing a final submission against the SEC as the landmark case draws to a close

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The most talked about crypto case involving the US Securities and Exchange Commission (SEC) and Ripple is coming to an end after a two-year battle.

On Dec. 2, the SEC and Ripple both filed redacted responses to each other’s opposition to motions for summary rulings.

Ripple argued in his move document that the SEC had failed to prove that its offering of XRP between 2013 and 2020 was an offer or sale of an “investment contract” and therefore a security under federal security laws.

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Ripple concluded the document by saying that “the court should grant the defendant’s request and should reject the SEC motion.”

This is Ripple’s “final submission,” Ripple General Counsel Stuart Alderotti said on Twitter on Dec. 3, asking the court to “make” a ruling in its favor.

He also stated that Ripple is proud of the defense it filed “on behalf of the entire cryptocurrency industry,” noting that Ripple “always played it straight with the court,” and took a subtle swing at the SEC saying that “the same cannot be said for our opponent.”

In another Twitter post, Alderoty continued to criticize the SEC on Dec. 5, referring to it as a “reversion regulator,” citing two statements suggesting they are on ends with each other.

Ongoing legal dispute Between the SEC and Ripple It began in December 2020 when the Securities and Exchange Commission initiated legal action against Ripple claiming that it raised $1.3 billion by offering Ripple’s native cryptocurrency XRP as an unregistered security.

Related: Investors are increasingly confident in Ripple’s victory over the SEC: CoinShares

Earlier November 30 on Twitter threadThere are only three cases left to be resolved in SEC vs Ripple, former federal prosecutor James Phelan said.

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This includes summary motions for judgment, expert challenges, and seal issues related to the Expert Reports, Hinman documents, and other materials on which the SEC and Ripple have relied in their motions.

Hinman documents refer to the speech given by William Hinman at the Yahoo Finance All Markets Summit in June 2018, where He stated that ether (ETH) was not a security.

Phelan believes that Justice Torres will not handle the three big cases “separately,” and instead will decide “everything together, and once she rules on the motions for summary judgment, a ‘big written judgment’ will be rendered — likely” on or before March 31. ) 2023.”