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ChainLink price analysis: LINK obtains bearish momentum at $6.7

ChainLink price analysis: LINK obtains bearish momentum at $6.7

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ChainLink price analysis on November 25, 2022 reveals after a partial bearish movement of the market, gaining some negative momentum, which indicates a decline in the LINK market. The price of ChainLink has remained negative for the past few hours. Today the price dropped and went from $6.8 to $6.6. However, the value of the market soon began to fall further as the cryptocurrency loses more of its value. Additionally, ChainLink has dropped to reach $6.7, just shy of the $7 mark.

ChainLink currently has a price of $6.7 with a trading volume of $316,063,111. Chainlink has gained 0.14% in the last 24 hours. ChainLink is currently ranked #21 with a live market cap of $3,401,730,946.

LINK/USD 4-Hour Price Analysis: Latest Trends

ChainLink’s price analysis reveals market volatility after the closing move. This means that the price of ChainLink is less and less susceptible to movement towards either extreme, indicating further bearish dynamics. The upper limit of the Bollinger band is $7, which is LINK’s strongest resistance. In contrast, the lower Bollinger band is at $5.9, which acts as the strongest support for LINK.

The LINK/USD price appears to be moving below the moving average, indicating a bearish trend. The market trend seems to be dominated by bears. The LINK/USD price appears to be moving downwards, which depicts a bearish market. The market appears to be almost broken, which could trigger a reversal; the bulls may still have hope.

LINK/USD 4 Hour Price Chart Source: TradingView

ChainLink’s price analysis reveals that the Relative Strength Index (RSI) is at 59, indicating a stable cryptocurrency stock. This means that the cryptocurrency will fall into the upper neutral zone. Additionally, the relative strength index appears to be moving downwards, indicating a bearish market. The dominance of sales functions causes the RSI score to decrease.

ChainLink price analysis for 1 day

ChainLink’s price analysis reveals market volatility after a bearish move, meaning that ChainLink’s price is less and less prone to fluctuating change at either extreme. The upper limit of the Bollinger band is $8.2, which acts as the strongest resistance for LINK. On the other hand, the lower limit of the Bollinger band is $5, which is the strongest support point for LINK.

The LINK/USD price appears to be moving above the moving average, indicating an uptrend. In addition, the market development seems to have shown downward dynamics in recent days. As a result, the market has decided on a negative approach. However, the market is expected to break, the market started to close its volatility and the price turned down.

Figure 404
LINK/USD 1 Day Price Chart Source: TradingView

According to Chainlink price analysis, the relative strength index (RSI) is 49, which means a stable cryptocurrency. This means that the cryptocurrency falls into the central neutral zone. Additionally, the RSI path appears to have shifted downward. A falling RSI score also means dominant selling activity is on the verge of crushing the bulls.

ChainLink Price Analysis Conclusion

Chainlink price analysis reveals that the cryptocurrency is following a strong downtrend with plenty of room for further activity at the bearish extreme. Moreover, the current market situation seems to follow a negative approach. Therefore, we can assume that the bears will soon start making their moves to maintain control over the market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com is not responsible for any investment 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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