ChainLink price analysis for April 14, 2023, reveals the market following a bullish movement, showing positive momentum, signifying an increment for the LINK market. On April 13, 2023, the value of ChainLink witnessed a sudden increase from $7.4 to $7.9. However, the market trends soon reversed and the majority of this increase was lost. As of now, ChainLink has experienced a decline and is currently trading at a value of $7.5.
As of today, April 13, 2023, the price of Chainlink is $7.57, with a market capitalization of $3.92B and a 24-hour trading volume of $923.81M. The cryptocurrency has a market dominance of 0.31% and has witnessed a 1.71% increase in its price in the last 24 hours.
Chainlink has experienced significant fluctuations in its price, reaching its all-time high of $52.89 on May 10, 2021, and its all-time low of $0.126297 on Sep 23, 2017. Since its last cycle low, Chainlink’s highest price was $9.45, and its lowest price was $5.36. Currently, the Chainlink price prediction sentiment is bullish, with a Fear & Greed Index of 68 (Greed).
Chainlink has a circulating supply of 517.10M LINK out of a maximum supply of 1.00B LINK, with a yearly supply inflation rate of 10.73%, resulting in the creation of 50.09M LINK in the last year. In the DeFi Coins sector, Chainlink is currently ranked #3, and in the Ethereum (ERC20) Tokens sector, it is ranked #6.
LINK/USD 1-day price analysis: Latest developments
ChainLink price analysis reveals the market’s volatility following an increasing movement. The price of ChainLink is displaying greater volatility, indicating a rising trend of movement toward either end of the price spectrum. At the start of the trading period, ChainLink opened at a price of $7.73, and the highest price recorded was also $7.73. However, the cryptocurrency experienced a decline, with the lowest price recorded at $7.57, and the trading day closing at $7.59. Overall, the ChainLink market underwent a change of -1.87%.
It can be observed that the LINK/USD market is currently being influenced by bullish sentiment, as the price is trading above the Moving Average price. Furthermore, the trend of LINK/USD is displaying an upward trajectory, indicating positive momentum in the market.
LINK/USD 1-day price chart Source: CoinCodex
The ChainLink price analysis reveals that the Relative Strength Index (RSI) for the cryptocurrency is currently at 57, which indicates a stable market for LINK. This implies that the cryptocurrency is presently in a neutral phase. Nevertheless, the RSI is displaying an upward trend, indicating an increasing market. The surge in the RSI score can be attributed to the prevalence of buying activity in the market.
ChainLink price analysis for 7-days
ChainLink price analysis reveals the market’s volatility following an increasing movement, this suggests that the ChainLink price is becoming more susceptible to experiencing fluctuations in either direction. The opening price for the period was observed at $7.82, with the high price also noted at $7.82. On the other hand, the low price was recorded at $7.57, reflecting a change of -2.72%. Finally, the period closed with a price of $7.60.
The recent market activity for LINK/USD has displayed bullish tendencies, despite the current trend already indicating a bullish movement with the price trading above the Moving Average price. Over the past few hours, the market has taken a positive turn, which may result in an increase in value for ChainLink and strengthen its bullish control over the market.
LINK/USD 7-day price chart Source: CoinCodex
As per the analysis of Chainlink’s price, the Relative Strength Index (RSI) for the LINK cryptocurrency is presently at 52, indicating a stable state of the market. This implies that the market is neither overbought nor oversold, instead situated in the neutral region. The RSI is also observed to be exhibiting a rising trend, indicating a dominant buying activity in the market.
ChainLink Price Analysis Conclusion
According to a recent Chainlink price analysis, the cryptocurrency is currently displaying an upward trend but is also susceptible to further negative activity. The current market conditions suggest an incline with the potential for continued upward movement. This trend may be attributed to a variety of factors, such as heightened buying pressure, positive market sentiment, or a dearth of bearish catalysts.
