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Chainlink price analysis: Price shows bearish tendency as drop occurs up to $25.81

Chainlink price analysis Price shows bearish tendency as drop occurs up to

TL;DR Breakdown

  • Price has decreased up to $26 level.
  • Chainlink price analysis supports bears.
  • Support is standing at $24.86.

LINK/USD 1-day price chart: Cryptocurrency value degraded to $25.81 as selling trend continues

The one-day Chainlink price analysis shows signs of a downward trend as more selling activity occurs during the day. The price curve is moving descendingly after the continual drop in price. The past few weeks proved to be quite crucial for the cryptocurrency value as a constant downtrend. The price has decreased to $25.81, which is relatively low than its moving average (MA) value, i.e., $27.79.

Chainlink price analysis: Price shows bearish tendency as drop occurs up to $25.81 1
LINK/USD 1-day price chart. Source: TradingView

The volatility is increasing at a drastic rate, which means that the future trends might favor bears again. The upper Bollinger band value has gone up to $37.02, whereas the lower Bollinger band value has decreased to $24.86. The Relative Strength Index (RSI) score has dropped down to 35.91 because of the decreasing trend.

Chainlink price analysis: Price levels up to $25.82 after bullish swipe

The price has followed an increasing movement in the last four hours as the bulls made a comeback today. Although a bearish trend was reigning the price chart in the earlier part of the day, the most recent progress has been bullish. The price is now touching the $25.82 mark, and it can be expected to heighten up further in the next few hours. The moving average value in the four hours price chart is settling at $26.522.

Chainlink price analysis: Price shows bearish tendency as drop occurs up to $25.81 2
LINK/USD 4-hours price chart. Source: TradingView

The short-term trending line is moving downward as overall, the bears have been on the winning side. The upper Bollinger band is now touching the $28.54 mark, whereas the lower Bollinger band is at the $25.47 mark. The RSI score has increased up to 35.89 as a result of the bullish trend.

Chainlink price analysis: Price shows bearish tendency as drop occurs up to $25.81 3
LINK/USD technical indicators chart. Source: TradingView

The past few months have left quite a negative impact on the market value of LINK/USD, as a bearish trend has been on the dominating side. This is why the technical indicators chart is giving out a strong bearish indication. We can see that 16 hands are on the selling position, ten indicators are on the neutral, and zero indicators are on the buying position.

The Moving Averages Indicator is giving out a negative indication as well because of the bearish slide. Fourteen indicators are present on the selling position; one hand is on the neutral position, while zero is the buying position. The Oscillators are giving a bearish signal, and nine indicators are on the neutral side; two hands are on the selling side while zero indicators are on the buying side.

Chainlink price analysis conclusion

The one-day and four-hour Chainlink price analysis confirms a bearish trend for the day as a considerable decline in LINK/USD value is observed. The price has moved down to $25.82 because of the bearish pressure. The four hours price chart, on the other hand, shows a green candlestick which is a sign of recovery.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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