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- 🎯 To further enhance the user experience on Gate Square, we sincerely invite you to take part in our first User Experience Survey 👉 https://www.gate.com/questionnaire/7086
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👉 https://www.gate.com/announcements/articl - 🌕 Gate Square · Creator Incentive Program Day 10 Topic– #Fed Cuts Rates By 25 Bps# !
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🔥 Day 10 Hot Topic: Fed Cuts Rates By 25 Bps
The Fed lowered its benchmark rate by 25 basis points to 4.00%–4.25%, in line with market expectations. This marks the restart of the rate-cut cycle since the pause last December. Lower rates often boost liquidity and risk appetite, which could be - 🚀 Gate Square Newbie Village · Episode 1 ✖️ @Ryakpanda Community
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LINK price prediction: What's the next target for the altcoin?
The price of Chainlink (LINK) initially declined after encountering long-term resistance at $18 during the week of December 4-10, 2023 (indicated by the red arrow). However, the downside momentum failed to push the price below the crucial support level of $12.7. This indicates strong buying interest from the bulls during minor corrections. It also suggests that the bulls are anticipating another price hike. As a matter of fact, the price of altocin rose above the $18 resistance level last week. Thus, he pointed out that the bullish trend has continued since September 2023.
Meanwhile, the weekly RSI (Relative Strength Index) broke above the descending divergence trendline. Also, it shows an upward trend. Therefore, it supports the possibility of further earnings for LINK. Therefore, it is possible that LINK could make a move towards the next long-term resistance level at $28. This means an increase of more than 50% for the altcoin.
#HotTopicDiscussion#