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Since May 2022, according to Chainlink price prediction, the token has consolidated inside the long-term consolidation phase. The LINK cryptocurrency needs to climb to the top of the daily price chart’s long-term consolidation phase. In the meanwhile, in order to move up for its breakout from the consolidation phase, LINK cryptocurrency has to gather buyers. Volume, however, is shown to be below normal and must increase for LINK to signify its breakout.
Chainlink price is currently approximated at $5.91 and has lost 0.39% of its market capitalization in the last 24-hour period. Trading volume has decreased by 33% during the intraday trading session. This demonstrates that sellers are trying to pull LINK crypto. Volume to market cap ratio is 0.04049.
Chainlink price prediction has been consolidating from may 2022 over the daily price chart. Meanwhile, volume change is low and needs to grow during the intraday trading session. However, LINK crypto has fallen below 20, 50, 100 and 200-days Daily Moving Average.
For the chainlink price to officially exit the consolidation period on the daily price chart, buyers must assemble. Technical signs point to the LINK cryptocurrency’s sideways movement.
The LINK cryptocurrency’s consolidation period is displayed by the Relative Strength Index. At 44, the RSI is unchanged below neutrality. The sideways momentum of LINK crypto is visible in MACD. The MACD line is attempting to hold steady at this level in order to advance into the consolidation phase’s upper price range.
Since May 2022, according to Chainlink’s price projection, the token has consolidated inside the long-term consolidation phase. Meanwhile, volume change is low and needs to grow during the intraday trading session. Technical signs point to the LINK cryptocurrency’s sideways movement. The MACD line is attempting to hold steady at this level in order to advance into the consolidation phase’s upper price range.
Support Levels: $5.72 and $5.40
Resistance Levels: $7.10 and $8.00
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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