Peter Smith
The week has stared with a relatively positive mood on the cryptocurrency market. Most of the top 10 coins are in the green zone, except for Chainlink (LINK), Cardano (ADA), and Binance Coin (BNB).
Chainlink is the biggest loser from the list. The rate of altcoin has declined by almost 7% over the last 24 hours.
The relevant data of Chainlink is the following:
- Name: Chainlink
- Ticker: LINK
- Market Cap: $4 587 637 296
- Price: $13.11
- Volume (24h): $2 016 239 840
- Change (24h): -6.86%
The data is relevant at the press time.
LINK/USD: Can Chainlink Keep Growing or Does the Correction Await us?
Even though the rate of Chainlink (LINK) has gone down by around 7% since yesterday, the price change over the last week has constituted +48.94%.
On the 4H chart, Chainlink (LINK) has made a false breakout at the $14 mark. At the moment, correction is a more likely price action, the volume is decreasing. What is more, the bearish divergence has been formed on the Relative Strength Index indicator, which means that bears might seize the short-term initiative. If that happens, they can push back the rate of Chainlink (LINK) to the closest support area of $12.32 soon.
Chainlink is trading at $13.12 at the press time.
Peter Smith
