ChainLink price analysis: LINK devalues at $6.8 after strong bearish interference

ChainLink’s price analysis for September 3, 2022 reveals that the market has followed a shaky bullish movement, gaining huge negative momentum, signifying a decline for the LINK market. ChainLink’s price has remained negative for the past few hours. Today, the price plummeted from $ 7.17 to $ 6.7. However, the market started to rise in value soon after and regained much of its value. Additionally, ChainLink rose and reached $ 6.8.

ChainLink’s current price is $ 6.8, with a trading volume of $ 246,555,394. Chainlink is down 3.80% in the past 24 hours. ChainLink is currently in 23rd place with a real-time market cap of $ 3,354,923,958.

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LINK / USD Price analysis in 4 hours: latest developments

ChainLink’s price analysis reveals the volatility of the market following an opening move. This means that ChainLink’s price is becoming more prone to movement towards one of the extremes, showing further declining dynamics. The upper limit of the Bollinger band is $ 7.1, which is the strongest resistance for LINK. Conversely, the lower boundary of the Bollinger Band is $ 6.4, another stronger support point than LINK.

The LINK / USD price appears to be moving below the moving average price, signifying a bearish move. The market trend appears to be dominated by the bears. The LINK / USD price appears to be moving lower, illustrating a falling market. The market appears to be almost broken, which could trigger a reversal movement; there may still be hope for the bulls.

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LINK / USD 4 Hour Price Chart Source: TradingView

Price analysis from ChainLink reveals that the Relative Strength Index (RSI) is 51, showing a stable cryptocurrency stock. This means that the cryptocurrency falls within the central neutral region. Furthermore, the RSI appears to be moving in a linear fashion, indicating a consistent market. Finally, the equivalence between selling and buying activity ensures that the RSI score remains constant.

ChainLink price analysis for 1 day

ChainLink’s price analysis reveals market volatility following a downward movement, which means that ChainLink’s price is becoming less prone to varying variations on both extremes. The upper limit of the Bollinger band is $ 8.3, which acts as a stronger resistance than LINK. Conversely, the lower bound of the Bollinger Band is $ 5.8, which is the most consistent support for LINK.

The LINK / USD price appears to be moving above the moving average price, signifying a bearish move. Furthermore, the market trend seems to have shown bearish dynamics in the last few days. As a result, the market took a negative approach. However, yesterday the market started a positive move, then reverted to a falling move, and the market started to close its volatility and the price started moving down.

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1 day price chart LINK / USD Source: TradingView

Chainlink price analysis shows that the Relative Strength Index (RSI) is 44, meaning a stable cryptocurrency. This means that the cryptocurrency falls into the lower neutral region. Furthermore, the RSI path appears to have shifted towards a bearish move. The falling RSI score also means dominant sales activity.

Conclusion on ChainLink price analysis

Price analysis from Chainlink reveals that the cryptocurrency is following a strong downward trend with plenty of room for further activity on the extreme downside. Furthermore, the current market condition appears to be taking a negative approach. Therefore, we can assume that the bears will soon start making their moves to keep control of the market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com assumes no responsibility 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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