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Chainlink {LINK} down by 10% following impressive bull-run that had left competitors shell-shocked

Bitcoin

According to the candlestick chart associated with the LINK/USDT pair on tradingview [based on the data obtained from the Binance Exchange], Chainlink is rapidly being impacted by sellers. LINK was being overbought till 11th of October, following which the daily RSI [for 14 periods] sunk and presently sits at 53.03 which signifies that LINK has landed amidst the neutral zone.

The MACD line has been venturing nearer to the signal line in the aftermath of 9th October. Today, the two intersected, and a new crimson histogram may be established beneath the zero line within the next few days. From 13th October onwards, the Awesome Oscillator peaks also possessed the brown shade, pointing towards the prevalence of bearish pressure and a subsequent trend change which has already influenced the digital currency.

A high was created on 9th close to the $2.95 mark, which may later act as resistance for LINK. Support lies at $1.922, but if sellers step up their actions, bigger losses are to be expected. This may result in Chainlink being priced at $1.9 once again.

Chainlink is ranked at #16 to the north of IOTA in the market. The trading volume recorded is $126.151 million, whereas the supply has 350,000,000 LINK tokens in play for now. The total market cap of Chainlink amounts to $803.015 million as of this instant. The price descended at a rate of 9.81% in the course of the past 24-hours which brought LINK all the way down to $2.29 where it currently rests.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.