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ChainLink price analysis (Apr 16)

LINK shows dormant behavior at $14 after bearish run

  • ChainLink price prediction appears to be bearish.
  • The strongest resistance is present at $18.6.
  • The strongest support is present at $13.5.

The ChainLink price analysis for April 16, 2022, reveals the market following a partial bearish movement, obtaining some positive momentum, signifying a slight gain of positivity for the LINK market. The price of ChainLink has remained negative over the past few hours; however, it is not showing some potential for a positive movement. On April 15, 2022, the price crashed and went from $13.7 to $14.6. Furthermore, the market increased soon after and regained most of its lost value. Moreover, Chainlink has increased and risen to the price to $14.

The current price of ChainLink is $14, with a trading volume of $433,509,105. Chainlink has been up 0.93% in the last 24 hours. ChainLink currently ranks at #24 with a live market cap of $6,548,615,492.

LINK/USD 4-hour price analysis: Latest developments

The ChainLink price analysis reveals the market’s volatility following a declining movement. This means that the price of ChainLink is becoming less prone to undergoing variable change on either extreme. It seems the market is undergoing a squeeze, which may indicate a future explosion of volatility. The upper limit of the Bollinger’s band is present at $14.3, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $13.5, which serves as the most substantial support for LINK.

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. The LINK/USD price appears to be moving towards the moving, potentially reversing the movement soon if the price crosses under the moving average curve.

ChainLink price analysis: LINK shows dormant behavior at $14 after bearish run 1
LINK/USD 4-hour price chart source: TradingView

The ChainLink price analysis reveals the Relative Strength Index (RSI) to be 47, showing a stable cryptocurrency stock. This means that the cryptocurrency falls into the central neutral region. Furthermore, the RSI appears to move slightly upward, indicating an increasing market. The dominance of buying activity causes the increasing RSI score. Therefore, the RSI indicates increasing features that could potentially be considered an opening for the bulls if they capture this opportunity

ChainLink Price Analysis for 1-day: The LINK market almost breaks

The 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 upper limit of the Bollinger’s band is present at $18.6, which serves as the strongest resistance for LINK. Conversely, the lower limit of the Bollinger’s band is present at $12.9, 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 support was broken, and as a result of the breakout, the price has started moving upward, and the market has started opening its volatility. This change could prove to play a significant part in the development of the cryptocurrency and possibly increase its value.

ChainLink price analysis: LINK shows dormant behavior at $14 after bearish run 2
LINK/USD 1-day price chart source: TradingView

The ChainLink price analysis shows the Relative Strength Index (RSI) to be 40, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the lower 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 shaky downward trend with much room for activity on the positive extreme. The market’s current condition appears to be very unpredictable, as it shows potential to move to either extreme. However, the bulls show massive potential to return to the market and increase the value of ChainLink.

Disclaimer. The information provided is not trading advice. cryptohotnews.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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