logo

ChainLink price analysis: LINK declines to $6.7

ChainLink price analysis: LINK declines to $6.7
TL;DR Breakdown
  • ChainLink price analysis is bearish today.
  • The strongest resistance is present at $7.1.
  • The strongest support is present at $6.5.

ChainLink price analysis for July 23, 2022, reveals the market following a complete 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. Today, the price crashed and went from $7.02 to $6.6. However, the market started to increase in value soon after and regained most of its value. Moreover, ChainLink has increased and reached $6.7, just shying away from the $7 mark.

The current price of ChainLink is $6.7, with a trading volume of $334,460,031. Chainlink has been down 3.47% in the last 24 hours. ChainLink currently ranks at #24 with a live market cap of $3,148,874,481.

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 $7.3, which is the strongest resistance for LINK. Conversely, the lower limit of Bollinger’s band is $6.5, 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 be dominated by bears. The LINK/USD price appears to be moving upward, illustrating an increasing market. The market appears to be showing bearish potential, but the trend might shift soon in favoring a positive movement.

image 236
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 an increasing movement, which means that the price of ChainLink is becoming more prone to experience variable change on either extreme. 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. On the other hand, the market’s trend seems to have shown bullish dynamics in the last few days. As a result, the market has decided on a positive approach. However, yesterday the market broke, and the market started opening its volatility. This change could’ve played a crucial role in the development of ChainLink.

image 237
LINK/USD 1-day price chart source: TradingView

Chainlink price analysis shows the Relative Strength Index (RSI) to be 51, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the central neutral region. Furthermore, the RSI path seems to have shifted to a linear movement. The constant RSI score also means equivalent buying and selling activities.

ChainLink Price Analysis Conclusion

Chainlink price analysis reveals the cryptocurrency follows an uncertain trend with much room for activity on either extreme. Moreover, the market’s current condition appears to be following a negative approach, as it shows the potential to move to either extreme. Therefore, we can assume that the bears will start making their moves soon and engulf the market completely.

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

3A-level game Zalmoxis landed on MEXC launchpad — Hold 10 MX or USDT to participate
MEXC users surpass 10M, and a new futures trading fee deduction is launched
Online Gaming and Web 3.0: Freakzz, the 9,999 NFT collection designed by Game of Thrones artists, introduces a Play-And-Earn game
Dogecoin price analysis: DOGE remains consistent at $0.0608
TRB Price Prediction 2022-2031: Is Tellor (TRB) a Good Investment?

Follow Us

Industry News

Cosmos 2.0: Uniting blockchains, interchain security, new issuance model for ATOM, and more
Bank of International Settlements green signals CBDC
Robinhood partners with Polygon to test Web3 waters. Here’s how
Shark tank's Kevin O'Leary advice to investors
What lies ahead for Voyager Digital and its investors after FTX wins the purchase auction?