ChainLink price analysis: LINK appreciates 2% after bullish call

ChainLink price analysis for September 11, 2022 shows that the market has gained significant positive momentum after being completely bullish, indicating that the LINK market has gained positivity. The price of ChainLink has been negative for the past few hours. On September 10, 2022, the price fell from $8 to $7.6. However, the market soon began to appreciate and gain more value. Also, ChainLink has peaked and reached $7.8, having just avoided the $8 mark.

ChainLink is currently trading at $7.8 with a volume of $503,457,215. Chainlink is up 1.71% in the past 24 hours. ChainLink is currently ranked 23rd with a real-time market cap of $3,876,401,832.

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LINK/USD 4-Hour Price Analysis: The Latest Updates

ChainLink price analysis reveals market volatility after the close. This means that the price of ChainLink becomes less prone to move to either extreme, showing a dynamic decline. The Bollinger Bands are capped at $8.1, which is the strongest point of resistance for LINK. Conversely, the lower Bollinger Band is at $7.3, another support point for LINK.

LINK/USD price appears to be moving above the price of the moving averages, indicating a bullish move. The market trend seems to be dominated by the bulls. The LINK/USD price appears to be moving down, indicating that the market is falling. The market appears to be showing bearish potential.

LINK/USD 4-hour price chart source: TradingView

ChainLink price analysis shows that the relative strength index (RSI) is 61, indicating that the cryptocurrency market is overvalued. This means that the cryptocurrency falls above the mid-to-upper zone. Also, the RSI appears to be moving down, indicating that the market is falling. The dominance of sales activity led to a drop in the RSI score.

ChainLink 1-Day Price Analysis

ChainLink price analysis reveals that the market moves with increased volatility, which means that ChainLink’s price becomes more prone to experiencing variable changes in either extreme. The Bollinger Bands are capped at $7.9, the strongest point of resistance for LINK. Conversely, the lower bound of the Bollinger Bands is at $6.1, which is the strongest support point for LINK.

LINK/USD price appears to be moving above the price of the moving averages, indicating a bullish move. Market trends seem to be showing bearish dynamics over the past few days. However, the market has decided to take a positive approach. As a result, the trend changed today, the price started to rise and the market started to fluctuate. This change has played a crucial role in the development of ChainLink. However, the price attempted to move towards the resistance level of the market.

LINK/USD 1-day price chart source: TradingView

Chainlink price analysis shows a Relative Strength Index (RSI) of 59, indicating a stable cryptocurrency. This means that the cryptocurrency belongs to the upper-middle zone. Additionally, the RSI path appears to have transformed into a linear motion. A constant RSI score also means equal buying and selling activity.

ChainLink Price Analysis Conclusion

Chainlink price analysis shows that the cryptocurrency is on an uptrend, with plenty of room to move in a positive extreme. Furthermore, the current state of the market appears to be heading in a positive direction as it shows the potential to move to either bullish extreme. The market shows great potential for development and is moving in the direction of a growing market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com is not responsible for any investments made based on the information provided on this page. We strongly recommend doing independent research and/or consulting a qualified professional before making any investment decision.

Source of information: Compiled from CRYPTOPOLITAN by 0x Information.The copyright belongs to the author Narmin, and may not be reproduced without permission

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