ChainLink price analysis: LINK gains positive momentum towards $6.50


The ChainLink price analysis for May 26, 2022, reveals the market following a 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 April 26, 2022, the price crashed and went from $7 to $6.4. However, the market started to increase in value soon after and regained most of its value. Moreover, ChainLink has peaked and reached $6.5, just shying away from the $6.8 mark.

The current price of ChainLink is $6.5, with a trading volume of $354,356,350. Chainlink has been down 7.21% in the last 24 hours. ChainLink currently ranks at #27 with a live market cap of $3,030,515,348.

LINK/USD 4-hour price analysis: Latest developments

The ChainLink price analysis reveals the market’s volatility following an increasing movement. This means that the price of ChainLink is becoming more susceptible to the movement towards either extreme, showing unstable dynamics. The upper limit of the Bollinger’s band is present at $7.5, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $6.52, which serves as another resistance point 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 downward, illustrating a decreasing market. The price appears to have broken the support band, causing the volatility to increase. However, the price is expected to rise soon as a breakout signifies a reversal movement.

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LINK/USD 4-hour price chart source: TradingView

The Relative Strength Index (RSI) is 33, showing a stable cryptocurrency stock. This means that the cryptocurrency falls into the lower neutral region. Furthermore, the RSI appears to move upwards, indicating an increasing market. The dominance of buying activity causes the increasing RSI score.

ChainLink Price Analysis for 1-day: LINK market bearish

The 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 upper limit of the Bollinger’s band is present at $9.5, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $5.5, which serves as 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. As a result, the market has decided on a negative approach. However, yesterday the trend almost shifted, the price has started moving downward, and the market has 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.

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LINK/USD 1-day price chart source: TradingView

The Chainlink price analysis shows the Relative Strength Index (RSI) to be 32, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the undervalued neutral region. Furthermore, the RSI path seems to have shifted to a slight downward movement. The low RSI score also means dominant selling activity.

ChainLink Price Analysis Conclusion

The Chainlink price analysis reveals the cryptocurrency follows a downward trend with much room for activity on the negative extreme. Moreover, the market’s current condition appears to be following a negative approach, as it shows the potential to move to either extreme.

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.

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