ChainLink price analysis for February 8, 2023, reveals the market moving upward and gaining pace, all of which are promising signs for the LINK market. Over the previous several hours, the price of ChainLink has stayed optimistic. The cost increased to $7 on February 7, 2023, from $6.6. But soon after, the market saw an increase in value and gained some worth. In addition, ChainLink rose and now trades at $7.2, just shy of $7.5.
Chainlink’s price today is $7.22, with a 24-hour trading volume of $759.68M, a market cap of $3.67B, and a market dominance of 0.33%. The LINK price increased by 2.64% in the last 24 hours.
Chainlink reached its highest price on May 10, 2021, when it was trading at its all-time high of $52.89, while Chainlink’s lowest price was recorded on Sep 23, 2017, when it was trading at its all-time low of $0.126297. The lowest price since its ATH was $5.36 (cycle low). The highest LINK price since the last cycle low was $9.45 (cycle high). The Chainlink price prediction sentiment is currently neutral, while the Fear & Greed Index shows 58 (Greed).
Chainlink’s current circulating supply is 508.00M LINK out of the max supply of 1.00B LINK. The current yearly supply inflation rate is 8.78% meaning 40.99M LINK were created in the last year. Regarding market cap, Chainlink is currently ranked #4 in the DeFi Coins sector and #7 in the Ethereum (ERC20) Tokens sector.
LINK/USD 1-day price analysis: Latest developments
ChainLink price analysis reveals the market’s volatility following an increasing movement. This means that the price of ChainLink is becoming more prone to the movement toward either extreme, showing dormant dynamics. The opening price is $7.21, while the high price appears to be $7.24. Conversely, the low price is present at $7.21, with a close price remaining at $7.22. ChainLink market is undergoing a change of 0.21%.
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 bulls. However, the LINK/USD price appears to be moving linearly, illustrating a stable market. The market appears to be showing consistent potential.
ChainLink price analysis reveals that the Relative Strength Index (RSI) is 56 showing a stable cryptocurrency market. This means that cryptocurrency is above the upper-neutral region. Furthermore, the RSI appears to move downward, indicating a linear market. The equivalence of selling and buying activities causes the RSI score to remain dormant.
ChainLink price analysis for 7-days
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 Opening price appears to be $7.25, while the high price is present at $7.25. Conversely, the low price is at $7.17, with a close price of $7.22, which is at a change of -0.32%.
The LINK/USD price appears to be moving over the price of the Moving Average, signifying a bullish movement. However, the market’s trend seems to have shown bullish tendencies in the last few hours. Moreover, the market has decided on a stable approach. As a result, the movement path has shifted today, the price started moving linearly, and the market started opening its volatility.
Chainlink price analysis shows the Relative Strength Index (RSI) to be 48, signifying a stable cryptocurrency. This means that the LINK cryptocurrency falls in the central-neutral region. Furthermore, the RSI path seems to have shifted to an upward movement. The increasing RSI score also means dominant buying activities.
ChainLink Price Analysis Conclusion
Chainlink price analysis reveals that the cryptocurrency follows an increasing trend with much room for activity on the positive extreme. Moreover, the market’s current condition appears to be following a positive approach, showing the potential to move to the bullish extreme.
