As market turbulence shakes the crypto world, investors are scrambling to protect their portfolios. Chainlink (LINK) and Cardano (ADA) show signs of deeper declines, with technical indicators pointing to further downside.
Amid this uncertainty, traders are turning their attention to Unilabs, a rising utility-focused altcoin gaining momentum. Since its presale began, the new project has already attracted more than 14 million dollars, which is a sign of massive investor interest.
Chainlink (LINK) – RSI Points Towards More Correction
The Chainlink coin has been bullish in the past month, soaring on strategic partnerships and the positive sentiment in the broader market. The peak of the bullish rally was on August 19, following the announcement of the Chainlink Treasury, when the Chainlink price reached a 7-month high of $26.51.
The last time the Chainlink price traded at this level was in January. However, the uptrend was caught off by profit takers, causing the Chainlink price to $24 region. Yet, CoinMarketCap data indicates the Chainlink price is still 12.7% on the 7D chart.
Also, the Chainlink price trades above the 50-SMA ($17.8). With the RSI currently at 72 (overbought region), the Chainlink price might witness more correction in the coming days.
Morecryptoonl believes that the price of Chainlink could reach the sky of $31 and $47 as the next milestone.
In other news, Whale 0x4EBD has been on an accumulation spree. The anonymous whale has withdrawn over 1,293,757 $LINK from Binance in the last four days.
Cardano (ADA) Flips Dogecoin And Tron
Cardano has overtaken Dogecoin and Tron in market cap to be ranked the 8th largest cryptocurrency. According to the CoinMarketCap data, the Cardano price broke the $1 mark but could not maintain the uptrend. Cardano has claimed the mark several times this year but has been unable to flip it into a support region.
The Cardano price is currently consolidating between $0.76 and $0.94 on the 7D chart.
Toknex, a crypto enthusiast, notes that the Cardano price has to stay above $0.84 to keep the hopes of a rally alive. Toknex pointed out two resistance levels that Cardano will have to overcome to scale upwards.
They are $1.01 and $1.15. Both levels have proven to be strong barriers for Cardano over the past few months. Technically, the sentiment around Cardano is bullish. The ADI flashes a buy signal while the RSI is at 62. However, more buying pressure is needed to break the current barriers at higher levels.
Unilabs (UNIL): Revolutionizing DeFi with Cross-Chain Trading and Liquidity Aggregation
Unilabs is a new DeFi project that has set itself apart in the DeFi space through its cutting-edge features. The asset manager powered by AI has the tools that enable users to optimize their trading potential. Its Cross-Chain Trading Hub is one of such features that allow trading across various blockchains, such as Ethereum, BNB Chain, and Polygon.
This tool enables investors to access liquidity pools in the different ecosystems and receive optimal prices with little slippage and reduced transaction fees. Besides cross-chain trading, Unilabs provides a Cross-Chain Liquidity Aggregator, which is enabled by a smart routing algorithm that automatically searches the optimal liquidity and price execution across multiple decentralized exchanges (DEXs).
Other features include:
- A 122% APY
- Access to the AI Market Pulse and Early Access Scoring System, which allows users to identify and invest in promising projects
- Four AI-driven funds (BTC, RWA, Mining, and AI)
- Bonuses for referrals
To give users access to its upcoming platforms, Unilabs has launched a presale for its utility-driven coin, UNIL. The coin is currently in stage 7 of its presale and is priced at $0.0108. If Unilabs’ UNIL captures 0.1% of the total value locked in the DeFi market ($150 billion), its price could skyrocket to $1, giving early investors a high ROI. Also, UNIL holders are eligible for 122% APY, 30% of the platform’s fees, and other bonuses.
Final Thoughts
With Chainlink and Cardano facing the risk of more declines, Unilabs stands out as a beacon of hope. Its price has increased by more than 100% since the start of its crypto ICO, with potential to give early investors 10x returns after launch. Apart from its gains, Unilabs’ utility-driven model offers holders opportunities to make more returns through staking. Investors who wish to be part of this budding new project can join the presale before launch.
Discover the Unilabs Presale:
Presale: https://www.unilabs.finance/
Buy Presale: https://buy.unilabs.finance/
Telegram: https://t.me/unilabsofficial
Twitter: https://twitter.com/unilabsofficial
This article contains information about a cryptocurrency presale. Crypto Economy is not associated with the project. As with any initiative within the crypto ecosystem, we encourage users to do their own research before participating, carefully considering both the potential and the risks involved. This content is for informational purposes only and does not constitute investment advice.
