Chainlink receives a weak long-term technical score of 20 from InvestorsObserver‘s research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token’s support and resistance levels, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
LINK currently holds a superior long-term technical analysis score than 20% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to ‘buy the dip’.
LINK is currently -$1.0700000 (-14.28%) below its 100-day moving average price of $7.510000000 with its current price of $6.440000000. Meanwhile, Chainlink is $1.0700000 (-85.08%) above its 52-week low price of $5.360000000 and -$31.72000000 (-9.34%) below its 52-week high of $38.160000000. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 20. Trends for the long-term trading history of Chainlink suggest that traders are currently bearish on the token.
Chainlink has a market capitalization of $3,164,697,413.39 and a relatively high average daily volume with $13,540,281,437.96 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, LINK’s volume is below its seven day average with 1,909,876,561.65 exchanged.
This token’s subclass Smart Contracts: A computer program designed to automatically execute when predetermined conditions are satisfied. Typically used to execute transactions quickly and automatically, with terms written directly into lines of code.
Technical analysis of Chainlink over the past year results in the crypto receiving a a weak long-term technical score of 20 as its price movement in that time has given traders reason to be bearish on the token in the long-term.
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