AD
AD
AD

Chainlink (LINK) Price Analysis for Sept. 15

article image
Cover image via www.tradingview.com

Has the decline of Chainlink (LINK) ended or may we expect another one?

Tue, 09/15/2020 - 10:39
Advertisement

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bulls remain more powerful than bears on the cryptocurrency market. Almost all of the Top 10 coins are in the green zone except for XRP and Binance Coin (BNB), whose rates have declined by 0.14% and 3.26%, respectively.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The overall market capitalization keeps rising and currently sits at $347 bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant Chainlink data is looking the following way today:

  • Name: Chainlink

  • Ticker: LINK

  • Market Cap: $4,192,856,132

  • Price: $11,98

  • Volume (24h): $1,473,944,074

  • Change (24h): 0.32%

The data is relevant at press time.

LINK/USD: Can the drop to $10 continue before bulls seize the initiative?

The rate of Chainlink (LINK) has not increased that much over the last day compared to other altcoins. The rate has grown by 0.32%.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

On the hourly chart, Chainlink (LINK) has retested the support zone at $11.80 where bulls have shown their power. However, the buying trading volume is not enough to keep growth to the local peak level. What is more, the RSI indicator has formed a bearish divergence, which confirms the strong position of sellers. In this case, there is a high probability of seeing LINK at the support of $11.80 soon.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

On the 4H time frame, bulls have confirmed the short-term rise of Chainlink (LINK), which is supported by high liquidity. In addition, the lines of the MACD indicator have almost entered the green zone. If growth continues, the altcoin may get to the nearest resistance zone at $12.47 by the end of the week.

LINK/USD chart by TradingView
LINK/USD chart by TradingView

On the daily chart, the situation is rather bearish than bullish. Chainlink (LINK) has bounced off the support at $11.80; however, it is not enough to keep growing as the liquidity, as well as the volume, is low. That is why the more likely scenario is another wave of decline to $9.75 before a new bull run starts.

Chainlink is trading at $12.05 at press time.

Advertisement
Hot stuff
1,249,577 XRP in 24 Hours Push Price to New Frontier
2 weeks 1 day ago
Shiba Inu (SHIB) Price to Add $0 This Test is Failed
2 weeks 2 days ago
Cardano Kicks Off New Round of Stake Pool Delegation
4 years ago
Blow to Ripple as SEC Gets Access to Company's Missing Slack Messages
4 years ago
Anti-Bitcoin Activist Arrested in El Salvador
4 years ago
Advertisement

Bitcoin (BTC) Price Analysis for September 1

Name card
Go deeper

LINK, BCH, and BNB Price Analysis for January 13

Name card
Go deeper

Bitcoin (BTC) Price Analysis for January 12

Name card
Go deeper