Greed

Ethereum

FINSCHIA

April

Chainlink

<p><a href="https://www.cryptopolitan.com/chainlink-price-prediction/">ChainLink price</a> analysis for April 21, 2023, indicates a decline in the market, with negative momentum. On April 20, 2023, there was a consistent bearish trend in the value of LINK, which dropped from $7.8 to $7.5 over a few hours. The overall market also showed a downward trajectory, causing a further decrease in the price of ChainLink, which eventually settled at $7.3. This value is only slightly above the critical threshold of $7.</p>



<p>As of now, the price of Chainlink is $7.31, with a 24-hour trading volume of $798.99M, a market cap of $3.78B, and a market dominance of 0.32%. In the past 24 hours, the LINK price has decreased by 2.98%. Currently, the sentiment for Chainlink price prediction is bearish, while the Fear &amp; Greed Index is neutral at 50.</p>



<p>Chainlink&#8217;s circulating supply is 517.10M LINK out of the maximum supply of 1.00B LINK. The yearly supply inflation rate is 10.73%, resulting in the creation of 50.09M LINK in the last year. Chainlink is currently ranked #3 in the DeFi Coins sector and ranked #7 in the Ethereum (ERC20) Tokens sector in terms of market cap.</p>



<h2 id="link-usd-1-day-price-analysis-latest-developments">LINK/USD 1-day price analysis: Latest developments</h2>



<p>Based on the ChainLink price analysis, the market has been volatile with a recent downward trend. However, in the past few days, the price of ChainLink has been relatively stable with minimal fluctuations. The opening price was $7.29, and the highest price was $7.31, indicating only slight variations. The lowest recorded value was $7.28, and the closing value was $7.31, reflecting a stable price. As of now, the ChainLink market is experiencing a 0.25% increase.</p>



<p>The current market trend for LINK/USD shows a bearish sentiment, with the price positioned below the Moving Average. The predominance of bearish investors has resulted in a downward trajectory of the LINK/USD price, indicating a bearish market trend. The market sentiment is largely negative, with a significant potential for a further price decrease.</p>



<figure class="wp-block-image size-full"><img width="1055" height="548" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438.png" alt="image 438" class="wp-image-293242" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438.png 1055w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438-300x156.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438-768x399.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438-24x12.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438-48x25.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-438-150x78.png 150w" sizes="(max-width: 1055px) 100vw, 1055px" /><figcaption><em>LINK/USD 1-day price chart Source: <a href="https://coincodex.com/crypto/chainlink/?period=24H" target="_blank" rel="noreferrer noopener nofollow">CoinCodex</a></em></figcaption></figure>



<p>According to ChainLink price analysis, the Relative Strength Index (RSI) currently stands at 46, suggesting a stable cryptocurrency market. However, the present trend for ChainLink is indicating a period of depreciation, with the price showing a downward trend. This trend is mainly due to the prevalence of selling activities, leading to a decline in the RSI score and intensifying the downward momentum of the market.</p>



<h2 id="chainlink-price-analysis-for-7-days">ChainLink price analysis for 7-days</h2>



<p>ChainLink price analysis indicates that the market is presently undergoing a phase of volatility following a period of decline. Based on the above observations, it can be concluded that the price of ChainLink currently shows a reduced susceptibility to significant fluctuations in either a positive or negative direction. Specifically, the opening price for the observed period was $7.42, with a maximum price of $7.46, indicating minimal deviation. In contrast, the minimum price during the period was $7.27, representing a slight shift of -1.3%. Finally, the closing price for the observed period was recorded at $7.32, suggesting a stable price trend.</p>



<p>According to current market analysis, the LINK/USD price is indicating a bullish trend as it is trending above the Moving Average price. However, recent market movements in the past few hours have shown a bearish inclination, supporting this observation. Additionally, the devaluation of ChainLink&#8217;s value can be attributed to a negative market movement that has increased the bearish control over the market.</p>



<figure class="wp-block-image size-full"><img loading="lazy" width="1043" height="548" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439.png" alt="image 439" class="wp-image-293243" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439.png 1043w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439-300x158.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439-768x404.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439-24x13.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439-48x25.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-439-150x79.png 150w" sizes="(max-width: 1043px) 100vw, 1043px" /><figcaption><em>LINK/USD 7-day price chart Source: <a href="https://coincodex.com/crypto/chainlink/?period=7D" target="_blank" rel="noreferrer noopener nofollow">CoinCodex</a></em></figcaption></figure>



<p>As of now, the Relative Strength Index (RSI) of Chainlink is recorded at 49, which indicates that the market is relatively stable and positioned within the neutral region. However, a declining trend in the RSI score is an indication of a bearish market trend. This can be attributed to the increased selling activities that are currently prevalent in the market.</p>



<h2 id="chainlink-price-analysis-conclusion">ChainLink Price Analysis Conclusion</h2>



<p>ChainLink price analysis reveals the present trend of the market is bearish, which implies a greater possibility of negative market activity. The market is currently exhibiting a downward trajectory, which hints at a potential decline in the value of cryptocurrency in the future. In a bearish market, selling pressure typically outweighs buying pressure, leading to a decrease in the asset&#8217;s value. This situation is evident in the current state of the ChainLink market. If the bearish trend continues, it is likely that the value of ChainLink may further decrease.</p>

ChainLink price analysis: LINK declines further at $7.3

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