- Chainlink coin is trading at $14.21, with a rise of 3.30% in the last 24 hours.
- Chainlink (LINK) derivative OI increased by 8.52% as per CoinGlass.
Established in 2017, Chainlink serves as a blockchain abstraction layer facilitating the seamless connection of smart contracts on a global scale. Using a decentralized Oracle network, Chainlink enables secure interactions between blockchains and external sources such as data feeds, events, and payment methods.
The Open Interest of the LINK coin is $308.2 Million and it has shown a rise of over 8.52%. The total volume of the coin is $863 Million and it has shown a change in the last 24 hours is +3.88%, as per CoinGlass.
The LINK coin has a market cap of $7.8 Billion and a total circulating supply of 556 Million coins. The coin has a long/short position of the last 24 hours is 0.9826.
The total number of wallets with Chainlink is 647,779 as per Dune.com. The above charts represent the daily wallets opened by Chainlink.
Chainlink (LINK) Technical Analysis
The price of the LINK coin is $14.21, with an advance of 3.42% as of 19 November 2023. The price of the LINK coin is moving upwards by forming a higher high pattern.
The price showed a breakout from the channel pattern a few weeks ago after one and a half years. The LINK price has shown a return of over 128% in the last three months the overall structure of the coin is positive and the candles are forming a positive pattern.
The price of the coin is expected to rise in the upcoming days and it will take support at the $12.69 level.
Technical Indicators Outlook About Chainlink
The LINK coin price is currently surpassing both the 50-day and 100-day EMA thresholds, indicating a favorable trend and enhancing the likelihood of an upcoming price increase.
Moreover, both the RSI and SMA lines are positioned above the 50 level, a positive zone. There are indications of an imminent positive crossover, suggesting a potential market dominance by sellers.
Conclusion
As per the analysis, the price of the Chainlink coin is increasing. The price has shown an impressive return of over 128% in the last three months and the overall pattern of the coin is positive. The indicators are also showing a positive signal and the trend is bullish. Hence, the price of the coin is expected to rise in the upcoming days.
Technical Levels
- Support Levels: $12.69 and $9.06
- Resistance Levels: $18.5 and $23.14
Disclaimer
The views and opinions of the author, or anyone named in this article, are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.