Greed

Ethereum

FINSCHIA

April

Chainlink

<p><a href="https://www.cryptopolitan.com/chainlink-price-prediction/">ChainLink price</a> analysis for April 19, 2023, indicates a decline in the market, with negative momentum. During the last few hours on April 18, 2023, the value of LINK has consistently shown a bearish trend, with a drop in price from $8.7 to $8.2. Furthermore, the overall market has also demonstrated a downward trajectory, leading to a further decline in the price of ChainLink, which ultimately settled at a value of $8. This value is only slightly higher than the critical threshold of $7.9.</p>



<p>As of April 19, 2023, Chainlink is priced at $8.07, with a 24-hour trading volume of $1.26B, a market capitalization of $4.17B, and a market dominance of 0.34%. The price of LINK has declined by 6.57% over the past 24 hours. Currently, the market sentiment for Chainlink price prediction is bearish, while the Fear &amp; Greed Index shows a value of 63 (Greed).</p>



<p>As of now, Chainlink&#8217;s circulating supply is 517.10M LINK out of a maximum supply of 1.00B LINK. The current yearly supply inflation rate is 10.73%, which means that 50.09M LINK has been created in the last year. In terms of market capitalization, Chainlink is currently ranked #3 in the DeFi Coins sector and #7 in the Ethereum (ERC20) Tokens sector.</p>



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



<p>ChainLink price analysis shows a volatile market, with a downward trend. Recent market trends indicate that ChainLink&#8217;s price has been exhibiting relative stability with minimal fluctuations. The opening price of ChainLink was observed at $8.03, and the highest price was $8.11. Despite slight variations, the price remained relatively stable, with the lowest recorded value at $8.03 and a closing value of $8.08. At present, the ChainLink market is undergoing a 0.52% decrease.</p>



<p>The present LINK/USD price is situated above the Moving Average, implying a bullish market trend. However, the prevalence of bearish investors has resulted in a downward trajectory of the LINK/USD price, thus indicating a bearish trend. The market sentiment is mostly pessimistic, with a considerable possibility of further decline.</p>



<figure class="wp-block-image size-full"><img width="1042" height="552" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366.png" alt="image 366" class="wp-image-292146" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366.png 1042w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366-300x159.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366-768x407.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366-24x13.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366-48x25.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-366-150x79.png 150w" sizes="(max-width: 1042px) 100vw, 1042px" /><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>ChainLink price analysis reveals that the Relative Strength Index (RSI) is presently at 59, suggesting a stable cryptocurrency market. Nonetheless, the current trend for ChainLink indicates a period of depreciation, with a decreasing value. This trend is primarily attributed to the preponderance of selling activities, resulting in a decline in the RSI score, thus exacerbating the downward movement 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. The observation mentioned above suggests that the price of ChainLink is displaying reduced vulnerability to substantial fluctuations in either a positive or negative direction. Precisely, the opening price of ChainLink was noted at $8.40, while the maximum price observed was $8.41, indicating a minimal deviation. Conversely, the minimum price recorded during the period was $7.95, implying a slight shift of -3.71%. Ultimately, the closing price for the period was noted at $8.09.</p>



<p>The present market analysis indicates that the LINK/USD price is currently exhibiting a bullish trend as it is trending above the Moving Average price. Recent market movements in the past few hours have also exhibited a bearish bias, substantiating this observation. Moreover, the devaluation of ChainLink&#8217;s value can be attributed to a negative market movement, intensifying the bearish control over the market.</p>



<figure class="wp-block-image size-full"><img loading="lazy" width="1052" height="558" src="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367.png" alt="image 367" class="wp-image-292147" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367.png 1052w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367-300x159.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367-768x407.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367-24x13.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367-48x25.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/04/image-367-150x80.png 150w" sizes="(max-width: 1052px) 100vw, 1052px" /><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>At present, the Relative Strength Index (RSI) of Chainlink is at 55, which implies that the market is relatively stable in the neutral region. However, a downward trend in the RSI score suggests a bearish market, which is primarily caused by the presence of selling activities in the market.</p>



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



<p>According to the latest ChainLink price analysis, the current market trend is bearish, indicating a high probability of negative market activity. The current market conditions are displaying a downward trajectory, suggesting a possible further depreciation of the cryptocurrency&#8217;s value in the future. In a bearish market, the selling pressure on an asset is generally greater than the buying pressure, leading to a decrease in the asset&#8217;s value. This trend is evident in the recent behavior of ChainLink&#8217;s market. If this bearish trend persists, there is a possibility that the value of ChainLink may continue to decrease further.</p>

ChainLink price analysis: LINK decreases by 7% after bearish interference

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