- LINK receives mixed market sentiment as per Chainlink price analysis.
- Support for LINK/USD is present at $25.68.
- The nearest resistance for LINK is found at $26.61.
The Chainlink price analysis reveals LINK/USD is struggling to move past the current price level. As less bullish efforts were observed during the first four hours of today’s session, and thereon, bears are trying to get control over the price function. If observed over the past month, the cryptocurrency has undergone loss as the price levels are comparatively much down since then. From the past two weeks, the LINK price shows a zigzag price pattern, but the positive thing is that the lower side in this wavy price pattern is higher than the previous one.
LINK/USD 1-day price chart: LINK shows minimal price movement
The 1-day price chart for Chainlink price analysis shows the price movement is upwards but to a very limited extent, as price change is negligible. Overall the LINK/USD shows an increase in price by only 0.5 percent over the last 24 hours, as the trading volume is down by 10 percent. However, the cryptocurrency reports a gain in price value over the past week extending to six percent. The Market cap also shows an improvement of 0.2 percent.
The volatility for the LINK/USD pair is decreasing as the Bollinger bands started converting on 17th October, and now the upper band is present at the $27.9 mark and the lower band at the $24.8 mark representing support, the mean average of the Bollinger bands is forming at the $26.4, representing resistance for LINK?USD as the price is trading below the mean average.
The relative strength index (RSI) is moving on a straight line at the center of the neutral zone, indicating balancing buying and selling activities in the market, almost canceling out effects of the opposite side.
The moving average (MA) is present at the $26.14 mark above the price level, complementing the bearish trend, and chances are less for the price to move above the MA, but if it does, that will be a bullish indication.
The 4-hour Chainlink price analysis shows limited price movement with limited bullish and bearish activities as the first candle for today’s session on the 4-hour chart is green, but the size is small, and the last candle is currently red but blinking into red and green colors which indicates a competition between bulls and bears for price dominance. As The MA is below the price level at $25.8 on the 4-hour chart, chances are there for the last candlestick to turn green.
The volatility is comparatively high on the 4-hour chart but slowly limiting, with the upper Bollinger band at $27 and the lower band at $25, making an average at $26 above the price level. The RSI is moving straight on the 4-hour chart also without suggesting any significant change in the current circumstances.
Technical indicators for the Chainlink price analysis are also showing mixed signals with a slight inclination towards the selling side due to the up-down price pattern of the last few days, with nine technical indicators favoring the bearish side and eight indicators favoring the bullish side. However, nine indicators still stand neutral and don’t favor either side of the market, out of a total of 26 technical indicators.
The Chainlink price analysis suggests that the price may improve during the coming hours and also for the coming 24 to 48 hours. As the price is on improvement after following a downtrend, the last improvement continued for four consecutive days from 13th to 16th October, so it can be safely assumed for the price to go higher at least for one more day. But traders should expect the price to remain below $27 for the next 24 hours.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.