According to the Chainlink price research, LINK/USD is failing to rise past the present price level. Bears are attempting to gain control of the price function after less bullish attempts were seen throughout the first four hours of today’s session. If you look at the price levels of the cryptocurrency over the last month, you’ll notice that it’s lost a lot of value. The LINK price has been dodging for the past two weeks, but the good news is that the lower side of this wavy pricing pattern is higher than the previous one.

1-day price chart for LINK/USD: LINK exhibits minor price fluctuation

The 1-day price chart for Chainlink price analysis reveals that the price is moving upwards, but only to a small degree since the price change is insignificant. Overall, the LINK/USD price has increased by only 0.5 percent in the previous 24 hours, despite a 10% decrease in trading volume. On the other hand, the cryptocurrency has seen a six percent price increase in the last week. The market capitalization has also increased by 0.2 percent.

The volatility for the LINK/USD pair is decreasing as the Bollinger bands began to convert on October 17th, and now the upper band is present at $27.9, and the lower band is present at $24.8, representing support. The Bollinger bands’ mean average is forming at $26.4, representing resistance for the LINK/USD pair as the price is trading below the mean average.

Chainlink price analysis: LINK struggles at $25.9 as trading volume goes down by 10 percent 1
LINK/USD 1-day price chart. Source: TradingView

The relative strength index (RSI) moves in a straight line in the neutral zone’s center, indicating a market that balances buying and selling activity, practically canceling out the impacts of the opposite side.

The moving average (MA) is present above the price level at $26.14, complementing the negative trend. The odds of the price rising above the MA are slim, but if it does, it will be a bullish sign.

Recent Developments and More Technical Indications

As the initial candle for today’s session on the 4-hour chart is green, but the size is tiny, and the last candle is now red but flashing into red and green hues, the 4-hour Chainlink price analysis reveals minimal price movement with limited bullish and bearish activity. On the 4-hour chart, the MA is below the price level at $25.8. Thus the last candlestick can turn green.

On the 4-hour chart, volatility is quite strong but gradually reducing, with the upper Bollinger band at $27 and the lower band at $25, resulting in an average of $26 above the price level. On the 4-hour chart, the RSI is likewise moving in a straight line, indicating no substantial change in the current situation.

Chainlink price analysis: LINK struggles at $25.9 as trading volume goes down by 10 percent 2
LINK/USD 4-hours price chart. Source: TradingView

Due to the up-down price pattern over the previous several days, technical indicators for the Chainlink price analysis also give mixed signals, with nine technical indicators favoring the bearish side and eight indications favoring the optimistic side. However, out of 26 technical indicators, nine remain neutral and do not favor either side of the market.

Conclusion

According to the Chainlink price research, the price may improve in the next hours and in the next 24 to 48 hours. Because the price is improving after a downturn, and the most recent recovery lasted four days from the 13th to October 16th, it is reasonable to predict that the price will continue to rise for at least one more day. However, over the next 24 hours, traders should anticipate the price to remain below $27.

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