Bitcoin, Shiba Inu and Chainlink – European Wrap 1 December

Bitcoin price is consolidating while it tries to move higher, but Ethereum price seems to be enjoying a full-fledged rally as it comes closer to setting up new highs. Ripple price, on the other hand, is struggling to find bullish momentum.

Shiba Inu price is undergoing a minor retracement after it saw a sudden uptick in buying pressure, leading to a rally. This correction will provide sidelined buyers with an opportunity to jump on before the next leg higher.

SHIB/USDT 4-hour chart

Chainlink price seems ready for a reversal of its two-week downswing as it attempts to create a higher high. This outlook is also supported by on-chain metrics, which suggest the possibility of accumulation at the current levels for LINK.

LINK/USDT 6-hour chart