Home
News
- LINK price is moving above the Daily Moving Average of 20,50,100,20 days.
- The Chainlink has increased by nearly 0.19 % during the intraday trading session and the current price is $6.88
- The pair of LINK/BTC is at 0.0002545 BTC and has inclined by 0.39% in the last 24 hours.
The volatile price of Chainlink (LINK) has made it difficult for investors to make decisions. Both bulls and bears are pushing the LINK price toward their desired targets, resulting in a fluctuating price range on the daily price chart. The coin has growth potential, but the bearish trend is preventing it from happening, and the bulls are also putting a lot of pressure.
The current price of LINK is approximately $6.88, with a 0.19% increase during the intraday trading session, and the LINK/BTC pair has inclined by 0.39% to about 0.0002545 BTC. However, if the bulls do not respond, the price may approach its primary support level of $6.132, and if the bearish trend persists, it could drop to the secondary support level of $5.442. On the other hand, if the bulls are successful, the price may reach its primary resistance level of $7.614 and possibly even the secondary resistance level of $8.025.
The market is currently being dominated by bulls, with a decrease in LINK’s volume by about 0.87%, indicating an increase in selling pressure. The bears must push themselves to match the expectations of investors, or it could be a fatal defeat for them. The volume-to-market cap ratio for LINK is 0.1509.
The technical indicators shows that: The Relative Strength Index is approaching oversold territory, with a current RSI of 47.03, above the average RSI of 51.59. The sellers have worked hard to reach this zone, and the stillness of the buyers is advantageous for them to prepare for their desired goals. The LINK price is moving above the Daily Moving Average of 20,50,100,20 days. The MACD and MACD signal might get intersected giving the negative crossover. Or it might give a positive crossover the current volatile market may drive the MACD towards its direction.
Conclusion
The volatile nature of the Chainlink market and the challenges it poses for investors. The ongoing battle between the bulls and bears has made it difficult to predict the right time to make a move. While the market is currently unpredictable, investors should stay vigilant and keep a close eye on the market’s movements. The current price of LINK is approximately $6.88, with a 0.19% increase during the intraday trading session
Technical Level
Support Levels $6.132 and $5.442
Resistance Levels: $7.614 and $8.025
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
