Chainlink price analysis: LINK touches $25 as bearish drive intensifies
3 min readTL;DR Breakdown
- Chainlink price analysis show decline in price levels.
- The price has lowered to $24.92 mark.
- Support present at $24 to be crossed soon.
The Chainlink price analysis is showing a negative trend with the bears reigning the price charts this week. The price levels have vividly fallen, and the coin value has lowered to the value of $25.
The downfall has been of huge impact, and the bearish streak has been continuous during the past few hours. The day has seen SMA 50 crossing SMA 20 as well which is a major indication of the bearish momentum.
LINK/USD 1-day price chart: Bearish momentum powers through after sudden rise
The 1-day price chart showing cryptocurrency values is going in the bearish direction today. The chart is displaying red candlesticks on their way to lower the price even below its current level which is at $25.
The moving average (MA) is slightly better than today’s coin value and is present at $27 in the 1-day chart. The volatility is slowly decreasing which, on the other hand, is a positive signal for cryptocurrency.
As the volatility is decreasing, so are the Bollinger bands narrowing down, with its upper value being $30 and its lower value being $23 in the Chainlink price analysis. The Relative Strength Index (RSI) score is moving downwards as well and the score is at the average level of 49.03.
Chainlink price analysis: 4-hours chart shows minimum opportunities for buyers
The 4-hours Chainlink price analysis is showing a rapid fall in the price levels, which have taken place due to strong bearish momentum. The cryptocurrency has faced a significant loss, as the price value has stooped to $24.91, at its lowest point since the past few days.
The moving average in the 4-hours chart is $26, relatively better, and the Bollinger bands are at an average of $27. The short-term trending line is also in the descending motion and is indicating a major bearish sign.
The Bollinger bands seem to be expanding, and the upper Bollinger band has moved to $30 while the lower Bollinger band has attained the value of $24. The RSI score in the 4-hours LINK/USD chart is on the decreasing side and the score has been reduced to 35.32 which indicates a lowered interest from buyers.
The Chainlink price analysis charts have observed a huge amount of loss in the cryptocurrency value today, as has been confirmed from the above analysis. The bulls are on the loss, and the LINK/USD technical indicators chart is showing a selling signal for the day. There are 11 indicators that are present at the selling position, 10 at the neutral, and five are present at the buying signal.
The Moving Averages are showing the same trend, with a strong inclination towards the selling side. Nine indicators are present at the selling point, five at the buying point whereas one indicator is at the neutral point. The Oscillators are also showing support for the bears, with two oscillators on the selling position, nine on the neutral one, and none at the buying position.
Chainlink price analysis conclusion: Bearish tide besieges Chainlink
The above 1-day and 4-hours Chainlink price analyses are going strongly bearish, as seen from their respective price charts. The rapid decline in the price levels has occurred which has taken the price down to $25 in the last hour.
The support level at $24.13 is soon to befall if the bears continue to gain strength to boost their momentum. There is an imminent possibility of the trend line going further downwards, because of the negative cryptocurrency predictions.
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