ChainLink price analysis for October 12, 2022, reveals the market following an uncertain movement, showing constant momentum, signifying dormancy for the LINK market. The price of ChainLink has remained constant over the past few hours. On October 11, 2022, the price reached from $7 to $7.2. However, the market decreased in value soon after and lose more value. Moreover, ChainLink has declined and reached $7.1, just moving away from the $7.5 mark.
The current price of ChainLink is $7.1, with a trading volume of $313,699,198. Chainlink has been down 0.69% in the last 24 hours. ChainLink currently ranks at #22 with a live market cap of $3,522,476,346.
LINK/USD 4-hour price analysis: Latest developments
ChainLink price analysis reveals the market’s volatility following an opening movement. This means that the price of ChainLink is becoming more prone to the movement towards either extreme, showing increasing dynamics. The Bollinger’s band’s upper limit is $7.7, which is the strongest resistance point for LINK. Conversely, the lower limit of Bollinger’s band is $6.9, which is another support 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 market appears to be showing bearish potential.
ChainLink price analysis reveals that the Relative Strength Index (RSI) is 36, showing an undervalued cryptocurrency market. This means that cryptocurrency falls under the lower-neutral region. Furthermore, the RSI appears to move downward, indicating a decreasing market. The dominance of selling activity causes the RSI score to decrease.
ChainLink price analysis for 1-day
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 Bollinger’s band’s upper limit is $8.1, serving as LINK’s strongest resistance point. Conversely, the lower limit of Bollinger’s band is $7, which is the strongest support 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 have shown bearish dynamics in the last few days. However, the market has decided on a negative approach. As a result, the trend has shifted today, the price started moving downwards, and the market started closing its volatility. This change has played a crucial role in the development of ChainLink. However, the price attempts to move towards the support band of the market.
Chainlink price analysis shows the Relative Strength Index (RSI) to be 44, signifying a stable cryptocurrency. This means that the cryptocurrency falls in the central-neutral region. Furthermore, the RSI path seems to have shifted to a linear movement. The consistent RSI score also means equal selling and buying activities.
ChainLink Price Analysis Conclusion
Chainlink price analysis reveals that the cryptocurrency follows a consistent trend with much room for activity on the positive extreme. Moreover, the market’s current condition appears to be following a neutral approach, as it shows the potential to move to either bullish extreme. The market shows much potential for development towards the increasing end of the market.
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Source: https://www.cryptopolitan.com/chainlink-price-analysis-2022-10-12/