In this Chainlink technical analysis, we will examine the current price action, trading volume, key levels and indicators for LINK-USDT. Chainlink (LINK) is a decentralized oracle network that provides real-world data to smart contracts on various blockchain platforms. It enables secure and reliable transfer of data between external data sources and smart contracts, ensuring the accuracy and integrity of the data used in the execution of smart contracts. By providing a trusted and interoperable connection between the outside world and smart contracts, Chainlink (LINK) helps to expand the potential use cases for blockchain technology beyond just financial transactions.
Chainlink Price Overview:
As of October 02, 2023, Chainlink is trading at approximately 7.478 USDT. Let’s dive into the detailed price action for LINK-USDT:
- Open (O): The opening price for today’s trading session was approximately 8.053 USDT.
- High (H): Chainlink reached a daily high of around 8.103 USDT.
- Low (L): The daily low for LINK-USDT was approximately 7.43 USDT.
- Close (C): At the time of analysis, Chainlink is trading near its daily close of 7.478 USDT.
|1D Change (%)||-7.15%|
|3D Change (%)||-5.89%|
|7D Change (%)||-0.21%|
|30D Change (%)||25.22%|
|90D Change (%)||14.68%|
|YTD Change (%)||34.13%|
Over the past three days, LINKUSDT has dropped by approximately -5.89%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -0.21%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LINKUSDT maintaining an upward trend of approximately 25.22%, despite intermittent fluctuations. Examining the last 90 days, LINKUSDT has witnessed substantial increase of approximately 14.68%, reflecting strong long-term confidence. Year-to-date, LINKUSDT has steadily appreciated by around 34.13%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Chainlink Live Chart:
You can access a live price chart for LINK-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.51858.
- Momentum score is 0.25218.
LINK USDT Technical Analysis
Chainlink Trading Volume:
The trading volume for Chainlink (LINK) over the past 24 hours has been significant, with approximately 6,742,525.93 USDT traded against LINK. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
- 50-day Simple Moving Average (SMA): LINK is currently trading above the 50-day SMA, indicating short-term bullish momentum.
- 200-day Simple Moving Average (SMA): Chainlink is also trading above the 200-day SMA, indicating a positive long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for LINK-USDT is currently in the high zone, around 56.02494. This suggests that Chainlink is in bullish territory.
Analysis from TradingView:
Our Key Takeaways:
Chainlink (LINK-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the high RSI and significant trading volume are high signals for potential upward movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.