- ChainLink has broken the base of the short-term ascending trend channel. This initially indicates a slower rate of ascent or the beginning of more horizontal development.
- The support level for the currency is at $7.16, and the resistance level is at $8.25. Volume peaks and volume troughs are in good alignment with price peaks and troughs.
- The current Chainlink price is $7.55 USD, with a 24-hour trading volume of $171,619,856 USD. Chainlink has decreased by 1.63% in the last 24 hours.
Chainlink (LINK) price has declined after breaking its support at $7.62; what does LINK coin need to start rising again? Let’s delve into the current LINK analysis!
Short-Term LINK Analysis
ChainLink has broken the base of the short-term ascending trend channel. This initially indicates a slower rate of ascent or the beginning of more horizontal development. The currency has broken the support at $7.62, which suggests further decline. The currency is currently assessed as technically negative in the short term, presenting a bearish scenario.
Medium-Term LINK Analysis
ChainLink is within an approximately horizontal trend channel in the medium to long term, indicating further developments in the same direction. After breaking the rectangle formation, the price retreated before reaching the target. A significant break at the $6.75 level would provide new negative signals for the currency, but breaking on the opposite side of the formation would be a strong positive signal.
The support level for the currency is at $7.16, and the resistance level is at $8.25. Volume peaks and volume troughs are in good alignment with price peaks and troughs. This strengthens the currency and indicates an increased probability of an upward breakout. In the medium term, the currency is generally considered slightly negative, but it is currently in an undecided position.
Long-Term LINK Analysis
ChainLink is within an approximately horizontal trend channel in the long term. This indicates investor uncertainty and a wait for more directional signals. An upward breakout would be a positive signal, while a downward breakout would be a negative signal. The currency is moving within a rectangle formation between the support at $4.81 and the resistance at $8.01. A definite break of either level will determine a new direction for the currency.
The currency is between the support at $5.80 and the resistance at $8.50. A definite break of either level will set a new direction. Volume peaks and volume troughs are in good alignment with price peaks and troughs. This strengthens the currency and indicates an increased probability of an upward breakout. In the long term, the currency is generally considered neutral, but it is currently in an uncertain position.
Chainlink Price
The current Chainlink price is $7.55 USD, with a 24-hour trading volume of $171,619,856 USD. Chainlink has decreased by 1.63% in the last 24 hours. According to the current CoinMarketCap ranking, Chainlink is ranked 19th with a market capitalization of $4,190,875,848 USD. There are 556,849,970 LINK tokens in circulation, and the maximum supply is 1,000,000,000 LINK tokens.
