- Chainlink is currently trading at $6.97 with a decline of -1.80% resulting in a 24-hour trading volume of $299,818,734.
- Chainlink has 1,073,952 Twitter followers with a very good number of Reddit followers resulting in 78,872 with an average of 51 active accounts on Reddit and 1,008,477 followers on Twitter.
- The all-time high for Chainlink is $52.70 recorded on May 10, 2021, about 2 years ago currently trading with a decline of -87.03% from ATH.
LINK has recently broken out its last swing high and is currently trading above it creating a big bullish bar on the Daily timeframe.
Chainlink is a digital currency and a technology platform that allows non-blockchain businesses to safely interact with blockchain networks. Chainlink is also a distributed oracle network, which means that it offers trustworthy and secure data sources, triggers, and payment options to smart contracts on any blockchain.
The overall security score for LINK reviewed by Cer.live is 86% with 100% Platform Audit Coverage, 0% Insurance Score, and 60% Bug Bounty Score.
Chainlink Technical Analysis
Market Structure:
The LINK gave a breakout above the previous swing high and is currently trading above the same. The market was falling for a long time but after hitting low of 4.83 it started to rebound and reached 7.33 and is now trading at 7.01. The market has created multiple higher high swings to reach the CMP and has made a bullish structure.
Chainlink Indicator Analysis
Source: LINKUSD. BITSAMP.1D by TradingView
EMA:
LINK is trading in a bullish breakout of the 20-day and the 50-day Exponential moving average indicating the presence of buyers in the market and the market has made a huge bullish candle just after the breakout which seems like a good indication of bulls resulting which we can see an uptrend in the upcoming days.
RSI:
The RSI for the Chainlink looks strong as it has breached the level of 65 and is currently trading at the level of 66 which represents the presence of buyers and the reliability of the trend. Leading with these values of RSI we can see higher levels in the Chainlink in the future.
Conclusion
LINK has been consistently making higher high structure and has also given a bullish crossover following the EMA’s indicating strength in the market also the RSI is trading in a bullish zone indicating an uptrend. Hence, we can Expect higher prices in the upcoming future.
Technical Levels
- Support Level – 6.70, 6.00, and 5.70
- Resistance Level – 7.70, 8.30, and 8.60
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
