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- Chainlink’s price prediction suggests a consolidation phase on the daily price chart.
- LINK crypto fell below the 20-, 50-, 100-, and 200-day moving averages.
- This consolidation must be avoided for Link Crypto to top the daily charts.
After May 2022, the tokens will be consolidated within a long-term consolidation phase, according to Chainlink’s price forecast. The LINK cryptocurrency has to climb to the top of the long-term consolidation phase of the daily price charts. Meanwhile, the LINK cryptocurrency must attract buyers to move forward towards a breakout from the consolidation phase. Hmm. However, the volume has been shown to be lower than normal, so LINK must increase to indicate a breakout.
With a current estimated price of $5.92, Chainlink’s market value has increased by 0.15% over the last 24 hours. Trading volume increased by 6.70% during the intraday trading session. This suggests that the purchaser is looking to boost his LINK crypto. The market capitalization to volume ratio is 0.04234. For LINK to continuously record its breakthroughs.
On the daily price chart, Chainlink’s price forecast shows that the token is in a stage of consolidation. As LINK surges into the upper price range of the long-term consolidation phase, the change in volume, which is currently below normal, should increase. The price of LINK cryptocurrency is stable between $5.72 and $9.55.
What do the technical indicators tell me about the Chainlink price?
For Chainlink’s price to officially end the consolidation period of the daily price chart, it must be assembled by the purchaser. Technical signs point to a sideways move for the LINK cryptocurrency.
The integration period of the LINK cryptocurrency is represented by the Relative Strength Index. At 38, the RSI is unchanged below neutral. The sideways momentum of LINK crypto can be seen in the MACD. The MACD line is trying to hold steady at this level as it moves into the upper price range of the consolidation phase.
overview
After May 2022, the tokens will be consolidated within a long-term consolidation phase, according to Chainlink’s price forecast. The LINK cryptocurrency needs to climb to the top of the long-term consolidation phase of the daily price chart.As LINK surges to the upper price range of the long-term consolidation phase, the currently below-normal volume change should increase. Technical signs point to a sideways move for the LINK cryptocurrency.
technical level
Support levels: $5.72 and $5.40
Resistance Levels: $6.50 and $7.70
Disclaimer
The views and opinions expressed by the author or persons named in this article are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading in crypto assets involves the risk of financial loss.
Nancy J. Allen is a cryptocurrency enthusiast and believes that cryptocurrencies will inspire people to be their own bank and move away from traditional currency exchange systems. She is also interested in blockchain technology and its capabilities.
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