bullish

Convergence

Chainlink

Rise

Divergence

<ul class="wp-block-list news-points"> 
 <li>Chainlink predicts a bullish Ethereum trend despite the recent market downturn.</li> 
 <li>Ethereum’s RSI at 25.57 suggests oversold conditions, indicating a potential rebound.</li> 
 <li>Historical data links low trading returns with increased buying opportunities.</li> 
</ul> 
Chainlink, the decentralized oracle network powering smart contracts on Ethereum, is hinting at a potential price rally for ETH. This prediction comes as Ethereum’s price sits at <a href="https://coinmarketcap.com/currencies/ethereum/#Chart" target="_blank" rel="nofollow">$2,424.46</a>, down 3.33% in the past 24 hours, during the broader crypto market downturn that has also seen Chainlink <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="nofollow">dip 3.74%</a>. 
Despite a general dip in the crypto market, reflected in Ethereum’s price slump by 3.33%, and Chainlink <a href="https://coinmarketcap.com/currencies/chainlink/" target="_blank" rel="nofollow">dropping</a> by 3.74% in the last 24 hours, the outlook suggested by Chainlink points towards a bullish trend for Ethereum. According to the latest trading data, Ethereum’s market cap remains stable at $291 billion, securing its position as the second-largest crypto asset. 
Technical analysis paints a mixed picture: the Moving Average Convergence Divergence (MACD) indicator suggests bearish momentum, while the Relative Strength Index (RSI) signals an oversold condition at 25.57. This divergence often precedes a market…
The post <a href="https://coinedition.com/why-chainlink-believes-ethereums-price-is-set-to-rise-despite-downturn/">Why Chainlink Believes Ethereum’s Price Is Set to Rise Despite Downturn</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Why Chainlink Believes Ethereum’s Price Is Set to Rise Despite Downturn

Coin Edition

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