We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.


New Trading Tool: Live US Options Flow! Try it out.


Our engineers are aware of and working on the problem with on-site streaming.


0.00 (0.00%)
00:58:41 - Realtime Data
Name Symbol Market Market Cap ($) Algorithm
Solana SOLUSD Crypto 8,037,693,221 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  0.00 0.00% 19.48 23.25 23.27
High Price Low Price Open Price Prev. Close 52 Week Range
19.48 8.00 - 38.79
Exchange Last Trade Size Trade Price Currency
GDAX 00:58:40 5.13 19.48 USD
Price x Volume Volume Base Symbol Related Pairs
0.00000000 0.00000000 SOL SOLEUR SOLGBP SOLBTC

Chainlink Bulls Must Defend The $7 Support Line For A Successful Recovery

02/03/2023 8:00pm


Over the last week, Chainlink lost most of the gains it secured in the previous two months. In the past week, LINK depreciated by close to 6%. On the daily chart, Chainlink fell by 4% and is moving close to its immediate support level. The overall structure of Chainlink remained bearish at the time of writing. Demand for the altcoin remained low as buying pressure couldn’t recover over the past few weeks. Accumulation dipped on the chart too. Related Reading: Vital Levels To Keep An Eye On As Solana Chart Trades Close Immediate Support For buyers to regain strength on their charts, the altcoin has to stay above its immediate price floor. The bulls could recover over the subsequent trading sessions if that support level remains steady. The LINK price continued to move on a descending trendline, but a slight push from buyers could bring the altcoin to trade near its overhead price ceiling. For Chainlink to secure gains, broader market strength remains crucial. Bitcoin has to trade above the $24,000 price for major altcoins to appreciate on their respective charts. Chainlink Price Analysis: One-Day Chart LINK was trading at $7.20 at the time of writing. The coin has to remain on the local support line for it to witness recovery. If LINK falls through the $7 mark, it will bring back the bears in full force. If LINK loses the $7 mark, it will park at $6.80. Overhead resistance for the altcoin was $7.60; breaching that level will take the altcoin to $7.80. If LINK remains above $7.80 for a considerable period, it could target $8. Trading at $8 will invalidate the bearish thesis. The amount of Chainlink traded in the last session declined, meaning the buying strength remained low on the chart. Technical Analysis Over the last few weeks, buying strength has constantly attempted to recover but has met with resistance from the bears each time. The Relative Strength Index fell below the neutral zone, indicating bearish strength. It suggested sellers had the upper hand; the indicator also formed a downtick. On the same note, the asset price slipped below the 20-Simple Moving Average (SMA) line as sellers continued to drive the price momentum in the market. About the low buying pressure, the altcoin also displayed sell signals. The Moving Average Convergence Divergence depicted red histograms tied with sell signals. This often means the price can experience another fall over successive trading sessions. Related Reading: Decline In Bitcoin Whale Activity Could Signal Further Downside For BTC Price The Directional Movement Index suggests the price direction and strength of the same. The negative indicator signaled downward price movement as the -DI line (orange) crossed over the +DI line (blue). The Average Directional Index (red) dropped near the 20-mark, which revealed that the present price trend was losing strength. Featured Image From UnSplash, Charts From TradingView.com.

1 Year Solana Chart

1 Year Solana Chart

1 Month Solana Chart

1 Month Solana Chart
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com

V: gb D: 20230924 11:48:39