TL; DR Breakdown
- LINK/USD traded in a range of $28.4 – $30.4, indicating moderate volatility over the last 24 hours.
- On the four-hour price analysis chart, the bulls seem to be overwhelmed by the bears.
- Generally, the LINK/USD trades in a bearish trend.
ChainLink price analysis: General overview
In the first two minutes of the LINK/USD 24-hours price analysis chart, sellers took control of the market and set for a price dip. The bearish pressure pushed the price downwards in a sharp decline to lows of $29.35, where the bulls created a solid resistance to prevent further price dip.
The bulls outnumbered the bears forcing the price to begin another upward trend. The bulls controlled the market for only 20 minutes before the sellers set in, causing a solid resistance at an intraday high of $30.31.
The bear pressure caused the price to start declining in a falling wedge trend. Sellers controlled the market for more than half an hour. All this time, the bulls were on the drawing board strategizing for an attack. The angry bulls gathered in numbers to counter the bearish trend.
The bulls established support at $28.4. The XRP/USD price saw another upsurge, although it did not last long before the mighty bears stormed the market, causing the price to decline in an inverted triangle trend.
In the last 24 hours, the overall cryptocurrency heatmap has been in the green. The two crypto giants, Bitcoin and Chainlink, are trading in line with the general cryptocurrency. The Binance coin is trading in a bullish trend, recording a gain of more than 5 percent.
Altcoins Seems to be impressive today, as the digital asset heat map suggests. Only a few virtual currencies are burning. LINK/USD trades in a positive trend gaining more than 7 percent.
LINK/USD traded in a range of $28.4 – $30.4, indicating moderate volatility over the last 24 hours. LINK/USD trading volumes have gone up by 16 percent, making them 1.8 billion. LINK market dominance stands out to be 0.59 percent. Meanwhile, the total market cap is at $13 billion, making it ranked 12 overall.
LINK/USD 4-hour chart: Bears target a further dip
On the four-hour Chainlink price analysis chart, the bulls seem to be overwhelmed by the bears. The market has become so dangerous for traders as the market continues to dip further. The red candlesticks are the most spread on the four price analysis chart.
The red line has crossed below thE MACD line signaling a bearish trend. The bearish trend is so significant, and it might last for the next 24 hours.
Generally, the LINK/USD trades in a bearish trend. Most of the indicators show a possible negative trend that might cause the prices to dip further. A crypto trader who wants to trade LINK/USD should wait for the price to dip and then repurchase the coin, relax, and wait for the price to surge again as the bull market is not over yet.
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