LINK USDT Chainlink Technical Analysis

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By Frans van Elst

Chainlink logo In this Chainlink technical analysis, we will examine the current price action, trading volume, key levels and indicators for LINK-USDT. Chainlink is a decentralized oracle network that enables smart contracts to access off-chain data and events. By leveraging real-world data within smart contracts, Chainlink increases the reliability and security of blockchain applications. With its innovative use of decentralized networks and cryptographic proofs, Chainlink is revolutionizing the way smart contracts interact with external data sources.

Chainlink Price Overview:

As of May 13, 2024, Chainlink is trading at approximately 13.5 USDT. Let’s dive into the detailed price action for LINK-USDT:

Consider bearish sentiment for Chainlink (LINKUSDT) at 13.50 USDT with technical analysis, highlighting weakened support and cautionary indicators.

Metric Value
Open (O) 13.559
High (H) 13.678
Low (L) 13.076
Close (C) 13.5
Volume (C) 1,846,320.89
  • Open (O): The opening price for today’s trading session was approximately 13.559 USDT.
  • High (H): Chainlink reached a daily high of around 13.678 USDT.
  • Low (L): The daily low for LINK-USDT was approximately 13.076 USDT.
  • Close (C): At the time of analysis, Chainlink is trading near its daily close of 13.5 USDT.
Metric Value
1D Change (%) -0.44%
3D Change (%) -0.47%
7D Change (%) -6.79%
30D Change (%) 1.60%
90D Change (%) -32.06%
YTD Change (%) -9.65%

Over the past three days, LINKUSDT has dropped by approximately -0.47%, showcasing increased market volatility. Throughout the last week, it continued to drop, with a loss of around -6.79%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with LINKUSDT maintaining an upward trend of approximately 1.60%, despite intermittent fluctuations. Examining the last 90 days, LINKUSDT has witnessed substantial drop of approximately -32.06%, reflecting strong long-term confidence. Year-to-date, LINKUSDT has steadily decreased by around -9.65%, 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 0.4286.
  • Momentum score is -0.12593.

LINK USDT Technical Analysis

Chainlink Trading Volume:

The trading volume for Chainlink (LINK) over the past 24 hours has been insignificant, with approximately 1,846,320.89 USDT traded against LINK. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): LINK is currently trading below the 50-day SMA, indicating short-term bearish momentum.
  • 200-day Simple Moving Average (SMA): Chainlink is also trading below the 200-day SMA, indicating a negative long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for LINK-USDT is currently in the low zone, around 41.92496. This suggests that Chainlink is in bearish territory.

Analysis from TradingView:

Our Key Takeaways:

Chainlink (LINK-USDT) is currently exhibiting signs of short-term bearish 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 low RSI and insignificant trading volume are low signals for potential downward movement.

Consider bearish sentiment for Chainlink (LINKUSDT) at 13.50 USDT with technical analysis, highlighting weakened support and cautionary indicators.

Missing our detailed breakdown on LINK BTC Chainlink Technical Analysis would be a lost opportunity if you found value in this post.

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.

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