ChainLink price analysis for April 11, 2023, reveals the market following a consistent movement, showing dormant momentum, signifying stability for the LINK market. ChainLink has experienced a spike in value over the past few hours, with the price rising from $7.1 to $7.4 on April 11, 2023. However, the market has since recovered, and the majority of the lost value has been regained. Presently, ChainLink has increased in value and is currently trading slightly above $7.3.
The current price of Chainlink is $7.36, with a trading volume of $536.77M in the past 24 hours. Its market cap is $3.81B and it has a market dominance of 0.31%. Chainlink’s price has increased by 0.59% in the last 24 hours.
Chainlink’s highest recorded price was on May 10, 2021, when it reached an all-time high of $52.89. On the other hand, its all-time low was on September 23, 2017, when it traded at $0.126297. The lowest price since its all-time high was $5.36, while its highest price since the last cycle low was $9.45. The general sentiment towards Chainlink’s price prediction is bullish, and the Fear & Greed Index currently shows a score of 68 (Greed).
As of now, Chainlink has a circulating supply of 517.10M LINK out of a maximum supply of 1.00B LINK. The yearly supply inflation rate is 10.73%, which translates to the creation of 50.09M LINK in the past year. In terms of market cap, Chainlink is currently ranked #3 in the DeFi Coins sector and #6 in the Ethereum (ERC20) Tokens sector.
LINK/USD 1-day price analysis: Latest developments
ChainLink price analysis reveals the market’s volatility following a declining movement. This means that the price of ChainLink is becoming less prone to the movement towards either extreme, showing dormant dynamics. The opening price is $7.34, while the high price appears to be $7.36. Conversely, the low price is present at $7.34, with a close price remaining at $7.36. ChainLink market is undergoing a change of 0.29%.
Based on the current trend for LINK/USD, it appears that the market is being driven by bulls as the price is currently trading above the Moving Average price. Additionally, the price of LINK/USD is on an upward trajectory, indicating an incline in the market.
According to the ChainLink price analysis, the Relative Strength Index (RSI) for the cryptocurrency is currently at 53, indicating a stable market for LINK. This suggests that the cryptocurrency is in a neutral phase at present. However, the RSI is displaying a linear trend, which points towards a stable market. The stability in the RSI score is a result of the equivalence of selling and buying activity in the market.
ChainLink price analysis for 7-days
ChainLink price analysis reveals the market’s volatility following a decreasing movement, which means that the price of ChainLink is becoming less prone to experience variable change on either extreme. The Opening price appears to be $7.39, while the high price is present at $7.42. Conversely, the low price is present at $7.32, with a change of -0.48% and a close price of $7.36.
Although the current trend for LINK/USD suggests a bullish movement, with the price trading above the Moving Average price, recent market activity has displayed bullish tendencies. In fact, over the past few hours, the market has taken a positive turn, which could result in an increase in value for ChainLink and strengthen the bullish control over the market.
Based on the Chainlink price analysis, the Relative Strength Index (RSI) for LINK is currently at 50, indicating a stable cryptocurrency market. This puts the LINK cryptocurrency in the neutral region, neither oversold nor overbought. Moreover, the RSI appears to be following an upward trajectory. The increase in the RSI score suggests dominant buying activity in the market.
ChainLink Price Analysis Conclusion
Based on a Chainlink price analysis, the cryptocurrency is currently in an upward trend with significant potential for further negative activity. The market’s current state indicates an incline with room for further upward movement. Factors contributing to this trend may include increased buying pressure, positive market sentiment, or a lack of bearish catalysts.
