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ChainLink price analysis: LINK decreases by 2% after bearish run

ChainLink price analysis: LINK decreases by 2% after bearish run

TL;DR Breakdown

  • ChainLink price analysis is bearish today.
  • The strongest resistance is present at $6.5.
  • The strongest support is present at $6.1.

ChainLink price analysis for July 11, 2022, reveals the market following partial 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 July 10, 2022, the price crashed from $6.3 to $6.1. However, the market started to increase in value soon after and regained most of its value. Moreover, ChainLink has peaked and reached $6.26, just shying away from the $6.3 mark.

The current price of ChainLink is $6.26, with a trading volume of $291,912,674. Chainlink has been down 0.24% in the last 24 hours. ChainLink currently ranks at #23 with a live market cap of $2,932,533,480.

LINK/USD 4-hour price analysis: Latest developments

ChainLink price analysis reveals the market’s volatility following a closing movement. This means that the price of ChainLink is becoming less prone to the movement towards either extreme, showing consistent dynamics. The Bollinger’s band’s upper limit is $6.5, which is the strongest resistance for LINK. Conversely, the lower limit of Bollinger’s band is $6.1, which is 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 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.

image 93
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 central neutral region. Furthermore, the RSI appears to move upwards, indicating an increasing market. The dominance of buying activity causes the RSI score to Increase.

ChainLink price analysis for 1-day

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 market appears to be in a squeeze. The Bollinger’s band’s upper limit is $7.1, serving as LINK’s strongest resistance. Conversely, the lower limit of Bollinger’s band is at $5.8, which is 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. However, the market decided on a positive approach as the price started moving upward, and the market 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 94
LINK/USD 4-hour price chart source: TradingView

Chainlink price analysis shows the Relative Strength Index (RSI) to be 44, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the central neutral region. Furthermore, the RSI path seems to have shifted to an upwards movement. The increasing RSI score means the dominance of buying activity.

ChainLink Price Analysis Conclusion

Chainlink price analysis reveals the cryptocurrency follows an upward 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. The market shows much room for positive movements.

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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