Chainlink

ChainLink price analysis: LINK loses bullish momentum at $6.1

ChainLink price analysis for January 11, 2023, reveals the market following a downward movement, showing decreasing momentum, signifying negativity for the LINK market. The price of ChainLink has remained bearish over the past few hours. On January 10, 2023, the price reached from $6.2 to $6. However, the market increased in value soon after and gained some value. Moreover, ChainLink has decreased and reached $6.1, just moving onto the $6.5 mark.

Chainlink price today is $6.10 with a 24-hour trading volume of $ 649.65M, a market cap of $3.10B, and a market dominance of 0.35%. The LINK price increased 0.16% 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 bearish, while the Fear & Greed Index is showing 26 (Fear).

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 a movement toward either extreme, showing dormant dynamics. The opening price is $6.13, while the high price appears to be $6.14. Conversely, the low price is present at $6.10, with a close price remaining at $6.10. ChainLink market is undergoing a change of -0.49%.

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 downward, illustrating a decreasing market. The market appears to be showing bearish potential.

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LINK/USD 1-day price chart Source: CoinCodex

ChainLink price analysis reveals that the Relative Strength Index (RSI) is 53 showing a stable cryptocurrency market. This means that cryptocurrency is just under the inflation region. Furthermore, the RSI appears to move downward, indicating a declining market. The dominance of selling activities causes the RSI score to decline.

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 $6.11, while the high price is present at $6.14. Conversely, the low price is present at $6.08, with a change of -0.06% and a close price of $6.10.

The LINK/USD price appears to be moving under the price of the Moving Average, signifying a bearish 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.

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LINK/USD 7-day price chart Source: CoinCodex

Chainlink price analysis shows the Relative Strength Index (RSI) to be 42, signifying a stable cryptocurrency. This means that the LINK cryptocurrency falls in the lower-neutral region. Furthermore, the RSI path seems to have shifted to an upward movement. The increase in the RSI score also means dominant buying activities.

ChainLink Price Analysis Conclusion

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

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