Crypto Price Today: Bitcoin tops $25,000; BNB, Polkadot, Dogecoin climb up to 6%

Bitcoin and other digital tokens rose in the early trading hours in Asia on Friday. Traders will be keenly looking at the banking crisis across the globe and the rate-hike path by the US Fed in its upcoming FOMC meet, scheduled next week.
Chainlink (LINK) is expected to show some interesting price action with L2 solution Arbitrum announcing a move away from relying on the blockchain to its own token – ARB. Trading around $6.8, it is down about 20% from its last month’s high. With LINK having given several ‘fakeouts’ outside of a long-term symmetrical triangle formation, it is quite unpredictable right now.
 

There are some challenges ahead for LINK, with the nearest resistance being the 0.38 fib level at $6.9. LINK’s 50 and 200-day moving averages, both around the $7 mark, suggest that it might be oversold and due for a rebound. If LINK manages to rise above the $7 mark, bulls could push it up even further to the next fib resistance at $7.4.
The golden pocket at $8 may also be due for a retest. Bears will aim to pull LINK down to the next support at $6.3. Following that, it might end up testing the $5.3 mark, which also happens to be LINK’s lowest since July 2020.
Major Levels
Resistance: $6.9, $7.4, $8.0
Support: $6.3, $5.3
(Views and recommendations given in this section are the analysts’ own and do not represent those of Business Today. Please consult your financial adviser before taking any position in the asset/s mentioned.)

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