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ChainLink price analysis: LINK/USD try for a positive movement at $6.8

ChainLink price analysis: LINK/USD try for a positive movement at $6.8
TL;DR Breakdown
  • ChainLink price analysis is bearish today.
  • The strongest resistance is present at $7.7.
  • LINK trading price is $6.8 at the time of writing

ChainLink price analysis for June 4, 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 June 3, 2022, the price crashed and went from $7.2 to $6.7. However, the market started to increase in value soon after and regained most of its value. Moreover, ChainLink has peaked and reached $6.8, just shying away from the $7 mark.

The current price of ChainLink is $6.8, with a trading volume of $333,135,737. Chainlink has been down 1.74% in the last 24 hours. ChainLink currently ranks at #27 with a live market cap of $3,212,164,043.

LINK/USD 4-hour price analysis: Latest developments

ChainLink price analysis reveals the market’s volatility following a declining movement. This means that the price of ChainLink is becoming resistant to the movement towards either extreme, showing consistent dynamics. The upper limit of the Bollinger’s band is present at $7.4, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $6.5, 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 be dominated by bears. The LINK/USD price appears to be moving upward, illustrating an increasing market. The market appears to be showing bullish potential, and the trend might shift soon in favoring a positive movement.

image 76
LINK/USD 4-hour price chart source: TradingView

ChainLink price analysis reveals that the Relative Strength Index (RSI) is 45, showing a stable cryptocurrency stock. This means that the cryptocurrency falls into the lower neutral region. Furthermore, the RSI appears to move linearly, indicating a stable market. The equivalence of buying and selling activity causes the RSI score to remain dormant.

ChainLink Price Analysis for 1-day: LINK market bearish

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 $7.7, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $6.3, 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 upward, 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 77
LINK/USD 1-day price chart source: TradingView

Chainlink price analysis shows the Relative Strength Index (RSI) to be 40, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the lower neutral region. Furthermore, the RSI path seems to have shifted to a linear movement. The dormant RSI score also means equal buying and selling activity.

ChainLink Price Analysis Conclusion

Chainlink price analysis reveals the cryptocurrency follows a downward trend with much room for activity on the positive extreme. Moreover, the market’s current condition appears to be following a positive approach, as it shows the potential to move to either bullish 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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