Greed

Based

FINSCHIA

April

Chainlink

<p><a href="https://www.cryptopolitan.com/chainlink-price-prediction/">ChainLink price</a> analysis for May 2, 2023, indicates a decline in the market, with negative momentum. On April 30, 2023, the value of LINK displayed a consistent and continuous downward trend, plummeting from $7.2 to $6.9 within a few hours. Concurrently, the wider market witnessed a similar descent, which further contributed to a decline in the ChainLink price, ultimately stabilizing at $6.8. The final valuation of $6.8 marginally surpassed the crucial threshold of $6.5.</p>



<p>The present valuation of Chainlink stands at $6.88, with a 24-hour trading volume of $429.94M, a market capitalization of $3.56B, and a market dominance of 0.31%. Within the last 24 hours, the LINK price experienced a decline of -1.87%.</p>



<p>The current sentiment for Chainlink price prediction is bearish, while the Fear &amp; Greed Index indicates a reading of 55 (Greed). Currently, there is a circulating supply of 517.10M LINK out of a maximum supply of 1.00B LINK. The yearly supply inflation rate is 10.73%, leading to the creation of 50.09M LINK in the past year. In terms of market cap, Chainlink is presently ranked #3 in the DeFi Coins sector and ranked #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>Based on the ChainLink price analysis, the market has been volatile with a recent upward trend. The ChainLink market has exhibited a relatively stable trend over the past few days, with only minor fluctuations. The starting price was recorded at $6.89, and the highest price observed was also $6.89, indicating limited variations. The minimum recorded value was $6.88, and the closing price settled at $6.88, thus demonstrating a consistent price trend. As of now, the ChainLink market shows a slight increase of -0.13%.</p>



<p>Based on the prevailing market trend for LINK/USD, it appears that the price is currently situated below the Moving Average, indicating a bearish outlook. The preponderance of bearish traders has contributed to a decline in the LINK/USD price, suggesting a bearish market trend. The overall market sentiment appears to be predominantly pessimistic, with a significant likelihood of a further decrease in price.</p>



<figure class="wp-block-image size-full"><img width="1049" height="543" src="https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54.png" alt="image 54" class="wp-image-298008" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54.png 1049w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54-300x155.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54-768x398.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54-24x12.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54-48x25.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-54-150x78.png 150w" sizes="(max-width: 1049px) 100vw, 1049px" /><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 the Chainlink price analysis, the Relative Strength Index (RSI) is presently at 41, which suggests a stable cryptocurrency market. However, the current trend for Chainlink appears to be relatively declining, with the price following a downward trajectory. This trend is primarily due to the dominant selling activities.</p>



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



<p>ChainLink price analysis suggests that there is volatility after a decline. The starting price for the observed period was $6.90, with a small variation as the highest price reached $6.92. However, the minimum price during this period was $6.87, which indicates a slight decrease of -0.38%. The closing price for the period remained at $6.87, which indicates a stable price trend.</p>



<p>According to the current market analysis, there is a bearish trend in the LINK/USD price as it is below the Moving Average price. This trend is further supported by recent market movements, indicating a bearish sentiment. The devaluation of ChainLink&#8217;s value can be attributed to the negative market shift that has strengthened the bearish control over the market.</p>



<figure class="wp-block-image size-full is-resized"><img loading="lazy" src="https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55.png" alt="image 55" class="wp-image-298009" width="910" height="470" srcset="https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55.png 1049w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55-300x155.png 300w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55-768x397.png 768w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55-24x12.png 24w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55-36x19.png 36w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55-48x25.png 48w, https://www.cryptopolitan.com/wp-content/uploads/2023/05/image-55-150x78.png 150w" sizes="(max-width: 910px) 100vw, 910px" /><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>The current Relative Strength Index (RSI) for Chainlink is at 46, signifying that the market is relatively stable and situated in the neutral territory. However, a decreasing trend in the RSI score indicates a declining market trend, which can be attributed to the prevailing selling activities that are dominant in the market.</p>



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



<p>Based on the current ChainLink price analysis, the market trend is indicating a bearish outlook, which signals a higher likelihood of unfavorable market activity. The cryptocurrency is exhibiting a downward trajectory, indicating the possibility of a potential future devaluation. In bearish markets, selling activities usually surpass buying activities, leading to a decrease in the asset&#8217;s worth. This market condition is evident in the present ChainLink market state. If the bearish trend persists, it is probable that the value of ChainLink may continue to decrease.</p>

ChainLink price analysis: LINK loses value at $6.8

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