ChainLink price analysis for April 12, 2023, reveals the market following a consistent movement, showing dormant momentum, signifying stability for the LINK market. ChainLink has experienced a decline in value over the past few hours, with the price dropping from $7.4 to $7.1 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 $7.2.
As of April 12th, 2023, Chainlink’s price stands at $7.28, with a 24-hour trading volume of $554.80M, a market cap of $3.76B, and a market dominance of 0.31%. Over the past 24 hours, the LINK price has decreased by 0.90%. Chainlink’s highest recorded price was on May 10th, 2021, at $52.89, while its lowest recorded price was on September 23rd, 2017, at $0.126297. The lowest price since its all-time high was $5.36, while the highest price since then was $9.45.
Currently, the sentiment for Chainlink’s price prediction is bearish, while the Fear & Greed Index is showing a score of 65 (Greed). Chainlink’s circulating supply is currently 517.10M LINK out of a maximum supply of 1.00B LINK. The yearly supply inflation rate is 10.73%, resulting in the creation of 50.09M LINK in the last year. Chainlink is currently ranked #3 in the DeFi Coins sector and #6 in the Ethereum (ERC20) Tokens sector in terms of market cap.
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 neither less prone to the movement towards either extreme, showing dormant dynamics. The opening price is $7.30, while the high price appears to be $7.30. Conversely, the low price is present at $7.26, with a close price remaining at $7.27. ChainLink market is undergoing a change of -0.38%.
The current trend for LINK/USD suggests that bulls are dominating the market, with the price trading above the Moving Average price. The linear trajectory of the LINK/USD price also indicates a stable market. Furthermore, there are indications of a potential bullish market movement. It is anticipated that the price of LINK could reach $7.5 by the end of the upcoming week.
Based on the ChainLink price analysis, the Relative Strength Index (RSI) for the cryptocurrency is currently at 51, suggesting a stable market for LINK. This reflects a neutral phase for the cryptocurrency at the moment. The RSI’s linear trend further indicates market stability, which is a result of balanced selling and buying activities in the market leading to a stable RSI score.
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 $7.17, while the high price is present at $7.35. Conversely, the low price is present at $7.15, with a change of 1.54% and a close price of $7.28.
The LINK/USD trend is currently indicating a bullish movement with the price above the Moving Average. However, recent market activity has been stable, with a consistent stance in the past few hours. This could lead to uncertainty in the value of ChainLink, but it may also strengthen its control over the market as bulls remain in a favorable position.
According to the Chainlink price analysis, the Relative Strength Index (RSI) for LINK cryptocurrency presently stands at 49, reflecting a stable market condition. This places the cryptocurrency in a neutral region, devoid of overbought or oversold situations. Furthermore, the RSI displays a linear trajectory, which underscores the consistent market state. The stability in the RSI score is indicative of a balance between buying and selling activities in the market.
ChainLink Price Analysis Conclusion
As per the Chainlink price analysis, the cryptocurrency is currently experiencing a consistent trend, with noteworthy potential for further activity on either extreme. The present market state indicates an upsurge, with scope for additional upward momentum. Contributing factors to this trend may comprise augmented buying pressure, favorable market sentiment, or an abundance of bullish drivers.
