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ChainLink price analysis: LINK loses value at $13.8

LINK

TL;DR Breakdown

  • Chainlink price prediction appears to be bearish.
  • The strongest resistance is present at $18.5.
  • The strongest support is present at $13.

The Chainlink price analysis for April 13, 2022, reveals the market following a bearish movement, obtaining some negative momentum, signifying a loss of positivity for the LINK market. The price of Chainlink has remained negative over the past few hours. On April 12, 2022, the price crashed and went from $14.3 to $13.6. As a result, the market continued depreciating soon after and lost most of its value. Moreover, Chainlink has declined and devalued the price to $13.8.

The current price of Chainlink is $13.8, with a trading volume of $433,509,105. Chainlink has been down 1.16% in the last 24 hours. Chainlink currently ranks at #23 with a live market cap of $6,495,687,633.

LINK/USD 4-hour price analysis: Latest developments

The Chainlink price analysis reveals the market’s volatility following a declining movement. This means that the price of Chainlink is becoming less prone to undergoing variable change on either extreme. The upper limit of the Bollinger’s band is present at $15.8, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $13, 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 towards the support, potentially reversing the movement soon if the price breaks the support.

ChainLink price analysis: LINK loses value at $13.8 1
LINK/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 25, showing an undervalued cryptocurrency stock. This means that the cryptocurrency falls into the devaluation region. Furthermore, the RSI appears to move downward, indicating a decreasing market. The dominance of selling activity causes the declining RSI score. The RSI indicates depreciating features that could potentially reverse the market dynamic if it falls too much. This can be considered an opening for the bulls if they capture this opportunity.

Chainlink Price Analysis for 1-day: The LINK market almost breaks

The Chainlink price Analysis reveals the market’s volatility following an increasing movement, which means that the price of Chainlink is becoming more prone to experience variable change on either extreme. The upper limit of the Bollinger’s band is present at $18.5, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $13.5, 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 have shown bearish dynamics in the last few days. As a result, the market has decided on a negative approach. However, yesterday the support was broken, and as a result of the breakout, the price has started moving upward, and the market has started opening its volatility. This change could prove to play a significant part in the development of the cryptocurrency and possibly increase its value.

ChainLink price analysis: LINK loses value at $13.8 2
LINK/USD 1-day price chart source: TradingView

The Chainlink price analysis shows the Relative Strength Index (RSI) to be 37, signifying an undervalued cryptocurrency. This means that the cryptocurrency falls below the lower neutral 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 downward trend with much room for activity on the negative extreme. The market’s current condition appears to be very unpredictable, as it shows potential to move to either extreme. However, the breakout suggests that the market could possibly move towards the positive extreme, so it’s safe to assume that the bulls will take over the market.

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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