Chainlink In Bearish Mood As LINK Price Retreats To $8.63
Chainlink (LINK) price is showing a bearish momentum as the market appears to be showing signs of fatigue.
Chainlink price outlines bearish strides
LINK/USD pair key support spotted at $8.54
Pair resistance seen at $9.26
The LINK/USD pair price slips on a downtrend as seen overnight which has been predictable overall.
More so, the market also suffers a loss of 4.80% as seen in the past 24 hours and currently faces key resistance at $9.26. For now, LINK price appears to be extremely bearish with key support seen at $8.54.
LINK Price Sheds 1.83%
The daily chart reveals that the LINK/USD pair has suffered a massive decline as seen in the past 24hours. The plunge of LINK has been consistent with its bearish stance.
According toCoinMarketCap, LINK price has been down by 1.83% or trading at $8.51 as of this writing. It seems to have fallen from its support line of $8.54.
The current trading volume is down by 24.51% or at $363,041,655 with the market cap at $4 billion. Apparently, LINK price has been circling the $8 mark as seen since Sunday.
Judging by the daily price chart, the LINK/USD pair is seen to be immensely bearish for the past few hours with the MACD lingering in the bearish zone.
RSI for LINK is spotted at 42.09 and is stepping into the oversold zone which signals that market could go down further.
To date, the 50-day moving average is present at $10.48 while the 200-day moving average is hovering at $12.19 signaling that the market is having a marked decline.