Chainlink nears death cross as Cardano, Ethereum face pressure: U.Today

Editorial illustration: A blue Chainlink symbol balances beneath converging red and blue bands, a Cardano coin rests on a sloping concrete ramp, and a silver Ethereum symbol stands on a cracked ledge.

In brief

  • LINK traded near $10.49 on Nov. 11, below every daily moving average, per U.Today.
  • Death cross approaching for LINK as its 50 and 100 EMAs converge, the analysis flagged.
  • ADA traded around $0.1776, roughly 37% below its October peak near $0.28.
  • Ethereum risked losing the $2,000 price level, U.Today said.

LINK has lost roughly a third of its value since a late-September peak near $15.70, according to U.Today. The outlet's analysis said a death cross was approaching. Its 50 EMA sat near $11.70 and its 100 EMA around $11.40 (so the gap between them is getting thin).

The longest moving average on the chart, around $11, was lost at the start of November, and LINK hasn't moved back above it, per the analysis. It's not a one-sided picture, though. Daily volume in November was lower than during the late-October sell-off, and RSI moved sideways around 50, nowhere near the oversold zone.

U.Today put the closest support at the $10 threshold, where buyers stepped in twice over the prior two weeks.

Charles Schwab announced it would add LINK to its crypto trading platform alongside Solana and Avalanche, according to U.Today's account. That news came out on August 27, and LINK was trading lower than it was on that day when the analysis ran.

Schwab hadn't named a launch date for LINK trading, the report said.

Cardano and Ethereum

ADA traded at around $0.1776, down roughly 37% from a peak near $0.28 at the start of October, U.Today said. This week it dipped to around $0.1715, a level last seen in mid-August. RSI was below 40 (close to the oversold zone), and November's daily volume was among the lowest on the chart.

On fundamentals, the analysis cited just one recent development: the Cardano foundation's support of the Cosmos IBC transition to Linux Foundation governance. If selling continues, U.Today pointed to the July range around $0.16 as ADA's next potential support area.

Ethereum got a blunter read from the outlet:

"Ethereum is certainly struggling, with a solid risk of losing $2,000 price level much sooner than anticipated."

Every level above comes from U.Today's November 11 chart analysis. They aren't live quotes, and they aren't LeoDex News forecasts.