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Chainlink price analysis: LINK/USD shows negative momentum at $15.13

LINK

TL;DR Breakdown

  • Chainlink price prediction appears to be bullish.
  • The strongest resistance is present at $17.2
  • The strongest support is present at $14.

The Chainlink price analysis for March 3, 2022, reveals the market following a shaky bullish movement, obtaining some negative momentum, signifying loss of positivity for the LINK market. The price of Chainlink has remained positive over the past few hours. On March 2, 2022, the price spiked and went from $14.9 to $15.8. However, the market started depreciating soon after and lost most of its newly gained value. As a result, Chainlink has declined a little and depreciated the price to $15.1.

The current price of Chainlink is $15.1, with a trading volume of $784,183,503. Chainlink has been down 1.64% in the last 24 hours. Chainlink currently ranks at #23 with a live market cap of $7,073,288,247.

LINK/USD 4-hour price analysis: Latest developments

The Chainlink price analysis reveals the market’s volatility following a decreasing movement. This means that the price of Chainlink is becoming less prone to undergo variable change on either extreme. The upper limit of the Bollinger’s band is present at $16, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $14, which serves as the most substantial support for LINK.

The LINK/USD price appears to be moving under the price of the Moving Average, signifying a bearish movement. The market’s trend seems to be dominated by bears. The LINK/USD price appears to be moving linearly towards stable dynamics, which could potentially reverse the movement soon.

Chainlink price analysis: LINK/USD shows negative momentum at $15.13 1
LINK/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 54, showing an overbought cryptocurrency stock. This means that the cryptocurrency falls in the upper neutral region. Furthermore, the RSI appears to move straight, indicating a consistent market. The dormant RSI score is caused by the equivalence of selling and buying activity.

Chainlink Price Analysis for 1-day: LINK shows negative signs

The Chainlink price Analysis reveals the market’s volatility following a declining movement, which means that the price of Chainlink is becoming less prone to experience variable change on either extreme. The upper limit of the Bollinger’s band is present at $17.2, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $12.8, which serves as the most substantial support for LINK.

The LINK/USD price appears to be moving over the price of the Moving Average, signifying a bullish movement. The market’s trend seems to have shown consistent bullish momentum. The less volatile market may prove to be favorable for the bulls as they have good chances of maintaining their movement.

Chainlink price analysis: LINK/USD shows negative momentum at $15.13 2
LINK/USD 1-day price chart source: TradingView

The Chainlink price analysis shows the Relative Strength Index (RSI) to be 46, signifying a stable value for the cryptocurrency. This means that the cryptocurrency falls in the lower undervalued region. Furthermore, the RSI path seems to have shifted to a slight downward movement. The low RSI score also means dominant selling activity.

Chainlink Price Analysis Conclusion

The Chainlink price analysis reveals the cryptocurrency follows a shaky upward trend with much room for activity on either extreme. The market’s current condition appears to be very unpredictable, as it shows potential to move to either extreme.

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.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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