Chainlink, Algorand, Tron Price Analysis: 30 December

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Chainlink ^[1] formed a triangle pattern and could see a breakout over the next few days, although the direction of the breakout was unclear. Algorand ^[2] traded within a range, with a particularly stiff level of resistance at $0.35 that bulls have been unable to overcome over the past month. Tron ^[3] sank beneath a crucial region of demand.

For the king coin – Bitcoin, the past 24-hours saw its price rise by over 4 percent and is currently trading at $27,938.

Source: CoinStats ^[4]

Chainlink [LINK]

Source: LINK/USD ^[5] on TradingView

LINK appeared to form a symmetrical triangle pattern on the charts. The trading volume has also been trending downward when the price has been within the pattern.

At the time of writing, the price straddled the level of support at $11.48 and could break out of the triangle in either direction. This would be confirmed by a session with good trading volume.

The RSI dipped below the 50 value and retested it as resistance. This showed that bearish momentum was beginning to take hold for LINK.

Algorand [ALGO]

Source: ALGO/USD ^[6] on TradingView

On the 1-day chart, ALGO has formed a rectangle pattern as it traded between the $0.28 and $0.37 levels over the past month. The trading volume has been more or less even during the time ALGO has traded within the range.

Some important levels

Chainlink, Algorand, Tron Price Analysis: 30 December

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