Chainlink is Down for the 4th Day in a Row

The Hourly View for Chainlink

  • At the time of this writing, LINK’s price is up $0.35 (1.45%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe.
  • The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Chainlink’s hourly price chart is shown below.

LINK

The Daily View for Chainlink

  • Currently, LINK’s price is down $-0.04 (-0.16%) from the day prior.
  • Chainlink has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Of note is that the 20 day changed directions on LINK; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between LINK’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in LINK’s price.

Below is a daily price chart of Chainlink.

LINK

The Latest From LINK’s Blockchain

  • For LINK, its average transaction value is now at 1803.1051.
  • Over the past 29 weeks, LINK’s number of daily new addresses has been in a clear downtrend, falling by about 18.33 per day.
  • LINK has a count of active addresses of 5023, up 13.72% from its value day prior.