ChainLink price analysis for February 13, 2023, reveals the market following a consistent movement, showing dormant momentum, signifying stability for the LINK market. The price of ChainLink has remained bearish over the past few hours. On February 12, 2023, the price reached $6.8 from $7. However, the market further decreased in value soon after and lost some value. Moreover, ChainLink has decreased and reached $6.7, just moving onto the $6.5 mark.
At its current price of $6.79, Chainlink has a 24-hour trading volume of $650.86 million, a market capitalization of $3.45 billion, and a market dominance of 0.33%. The cost of LINK dropped by 2.29% during the previous 24 hours.
Chainlink’s all-time high price, which was $52.89 on May 10, 2021, was reached at that time, while its all-time low price, which was $0.126297 on September 23, 2017, was reached then. Since its ATH, the price has dropped to $5.36. (cycle low). Since the last cycle low, the highest LINK price was $9.45. (cycle high). The Fear & Greed Index is now at 48, while the Chainlink price forecast attitude is negative (Neutral).
Out of a maximum supply of 1.00B LINK, 508.00M LINK are now in circulation. With an annual supply inflation rate of 8.78%, 40.99M LINK were produced in the previous year. Chainlink is currently ranked #4 in the DeFi Coins category and #7 in the Ethereum (ERC20) Tokens sector in terms of market capitalization.
LINK/USD 1-day 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 neither less prone to the movement towards either extreme, showing dormant dynamics. The opening price is $6.75, while the high price appears to be $6.79. Conversely, the low price is present at $6.74, with a close price remaining at $6.78. ChainLink market is undergoing a change of 0.39%.
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. Moreover, the LINK/USD price appears to be moving downward, illustrating a decreasing market. The market appears to be showing bearish potential; bears are expected to bring the price down to $6.5 by the end of this week.
ChainLink price analysis reveals that the Relative Strength Index (RSI) is 46 showing a stable cryptocurrency market. This means that cryptocurrency is in the central-neutral region. Furthermore, the RSI appears to move downward, indicating a decreasing movement. The dominance of selling activities causes the RSI score to decrease.
ChainLink price analysis for 7-days
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 Opening price appears to be $6.80, while the high price is present at $6.83. Conversely, the low price is present at $6.65, with a change of -0.43% and a close price of $6.77.
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 bearish tendencies in the last few hours. Moreover, the market has decided on a negative movement, which will decrease its value and strengthen the bearish control of the market.
Chainlink price analysis shows the Relative Strength Index (RSI) to be 46, signifying a stable cryptocurrency. This means that the LINK cryptocurrency falls in the lower-neutral region. Furthermore, the RSI path seems to have shifted slightly downward. The decline in the RSI score also means dominant selling activities.
ChainLink Price Analysis Conclusion
Chainlink price analysis reveals that the cryptocurrency follows a declining trend with much room for activity on the negative extreme. Moreover, the market’s current condition appears to be following a declining approach, as it shows the potential to move further downwards.
