Ethereum
$ 1,234.85 7.18%
Solana
$ 42.30 10.35%
Dogecoin
$ 0.069040 5.96%
ApeCoin
$ 4.64 4.60%
Bitcoin
$ 21,485.00 2.53%
BNB
$ 241.06 4.07%

ChainLink price analysis: LINK gains positive momentum towards $6.50

ChainLink price analysis: LINK gains positive momentum towards $6.50
TL;DR Breakdown
  • ChainLink price analysis is bearish today.
  • The strongest resistance is present at $9.5.
  • ChainLink trades at $6.7 as of now.

The ChainLink price analysis for May 26, 2022, reveals the market following a bearish movement, obtaining some positive momentum, signifying a gain of positivity for the LINK market. The price of ChainLink has remained negative over the past few hours. On April 26, 2022, the price crashed and went from $7 to $6.4. However, the market started to increase in value soon after and regained most of its value. Moreover, ChainLink has peaked and reached $6.5, just shying away from the $6.8 mark.

The current price of ChainLink is $6.5, with a trading volume of $354,356,350. Chainlink has been down 7.21% in the last 24 hours. ChainLink currently ranks at #27 with a live market cap of $3,030,515,348.

LINK/USD 4-hour price analysis: Latest developments

The ChainLink price analysis reveals the market’s volatility following an increasing movement. This means that the price of ChainLink is becoming more susceptible to the movement towards either extreme, showing unstable dynamics. The upper limit of the Bollinger’s band is present at $7.5, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $6.52, which serves as another resistance point 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 downward, illustrating a decreasing market. The price appears to have broken the support band, causing the volatility to increase. However, the price is expected to rise soon as a breakout signifies a reversal movement.

image 493
LINK/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 33, showing a stable cryptocurrency stock. This means that the cryptocurrency falls into the lower neutral region. Furthermore, the RSI appears to move upwards, indicating an increasing market. The dominance of buying activity causes the increasing RSI score.

ChainLink Price Analysis for 1-day: LINK market bearish

The ChainLink price Analysis reveals the market’s volatility following a decreasing 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 $9.5, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $5.5, 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 trend almost shifted, the price has started moving downward, and the market has started closing its volatility. This change could’ve played a crucial role in the development of ChainLink. However, the bears have managed to maintain their trend.

image 494
LINK/USD 1-day price chart source: TradingView

The Chainlink price analysis shows the Relative Strength Index (RSI) to be 32, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the undervalued 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. Moreover, the market’s current condition appears to be following a negative approach, as it shows the 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.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Cryptocurrency Investments To Make in a Bearish Market - Shiba Inu (SHIB), Dogecoin (DOGE), and RoboApe (RBA)
ISO 20022 compliant crypto-list
Bitcoin price analysis: Seller exhaustion makes BTC/USD knock at $21k resistance
Shiba Inu price analysis: SHIB expected to stay bullish for the next 24 hours

Follow Us

Industry News

Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon
Uphold announces restriction of Venezuelan users
BAYC caught in a public opinion storm over Nazi club NFT racism
ISO 20022 compliant crypto-list