Chainlink Technical Analysis: LINK Bearish for the Next 24 Hours

Chainlink technical analysis shows that LINK prices are in a bearish trend, with the market trading at $6.40. There is some support at this level, which may provide some relief to the bears. If the price breaks beneath this support, it could drop to as low as $6.38. If the bulls can push the prices above $6.80, they may attempt to break through $7.02, which is a previous resistance level. Today’s opening price was $7.08, and it has subsequently dropped to its current $6.40 value. The price has made two smaller highs and two lower lows, which suggests that there is a bearish trend. Chainlink Technical Analysis on a 24-Hour Daily Chart: Prices Find Support at $6.38 The Chainlink cost analysis shows that the price has dropped by more than 1% in the past 24 hours. The market capitalization is $2,979,518,305. The trading volume for the day was at $433,251,568 and the price fell to a new low of $6.38. We may see that the price has hit a new low at $6.38 and found some support at this level. Source: TradingView The MACD indicator is currently in a bearish position, with the MACD line crossing below the signal line. At the time of writing, 50-day and 200-day SMA are at $6.79 and $7.21, respectively, suggesting that the current downturn will continue for some time. The Relative Strength Index, which measures the momentum of a market, is presently at 37.66, indicating that it’s in oversold territory. Chainlink Technical Analysis on a 4-...