The cautious sentiment can be linked to the US election and the uncertainty around the result. Toncoin (TON) and Chainlink (LINK) swung low as the crypto market traded downward, with indicators pointing toward further downturns.
Meanwhile, seeking shelter against market shocks while positioning for gains, traders have been betting on IntelMarkets (INTL), an emerging cryptocurrency buzzing with potential. It stands at the intersection of AI and DeFi, aiming to reshape the crypto trading scene.
IntelMarkets (INTL): A New DeFi Project that Intersects with AI
IntelMarkets (INTL), one of the fastest-rising AI altcoins, is in the spotlight for good reasons. Taking a unique approach, it will combine AI with blockchain technology and DeFi, building an AI-powered trading platform. Another layer of attraction is its significant growth prospects.
Unlike conventional exchanges, its trading bots and data agents can analyze millions of data points to uncover profitable trends and give access to top-notch strategies. Moreover, its soon-to-launch Zirkon blockchain will boost security and transparency, making it a strong contender in the $264 billion crypto trading market.
With the presale in the fifth stage and over $1.6 million raised, its launch is just around the corner. Meanwhile, a token is undervalued at $0.045, which traders have been scooping up ahead of its projected explosive debut. Industry experts predict a 65x upswing after its debut, causing a shift in sentiment away from Toncoin (TON) and Chainlink (LINK).
Toncoin (TON): Spiral Fall from $8.24 ATH
Toncoin (TON) is popularly known as a Telegram-based cryptocurrency. The Layer-1 token is one of the top ten cryptocurrencies, exploding from a low of $2 to registering an all-time high of $8.24 in June. However, amid profit-taking and FUDs from the arrest of Telegram CEO Pavel Durov, it nosedived.
The several market downturns also contributed to its declining price. Reflecting wider bearish sentiment, the Toncoin price plunged over 8% in the past week, retailing above $4.60. There has also been a 5% decline in the daily timeframe, highlighting dwindling interest.
With indicators pointing towards further decline, traders have been cautious. TradingView’s MACD level (12, 26) is -0.15, a sell signal. At the same time, moving averages hint at a strong sell signal, notably the Hull Moving Average (9), which is at 4.67. However, an overall market rally will push Toncoin (TON) to the upside—an altcoin to watch.
Chainlink (LINK): Hovers around key Support
Chainlink (LINK) is an Oracle network that connects smart contracts to external data feeds and critical off-chain information. It plays a key role in the crypto landscape, contributing to its appeal and ascent as one of the top altcoins.
As the crypto market swung low, Chainlink (LINK) retested a low support. The Chainlink price nosedived over 10% on the weekly chart, falling from the weekly high of $12.42 to $10.5. With the bulls unrelenting, a fall below the $10 support isn’t out of the question.
Moreover, indicators like moving averages suggest selling Chainlink (LINK) at the current price to buy lower. The exponential moving average (10) is at 10.998 and the simple moving average (10) is at 11.168, with both suggesting selling. However, the commodity channel index (20) at −174.142 says a different story entirely—a buy signal.
Conclusion
While Toncoin (TON) and Chainlink (LINK) fear further downswings, demand for IntelMarkets (INTL) soars. The presale has been selling out fast due to its bullish AI narrative, huge growth prospects and impending transformation of the crypto trading scene. Hailed as the best new crypto to invest in, we suggest checking out the ICO.
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