- The Chainlink crypto has witnessed huge long liquidation in the last 24 hours.
- The LINK crypto price has increased by 100% in the last year.
Chainlink is a protocol that connects real-world data to smart contracts on Ethereum, enabling secure and reliable DApps. LINK is the token that pays for Oracle services and rewards node operators. Chainlink was founded by Sergey Nazarov and Steve Ellis in 2017 with the support of the Web3 Foundation.
The token liquidity of Chainlink is $80.45 Million, as per DefiLlama, and the staked value of the protocol is $624.47 Million. The derivatives trading volume of the crypto has declined by 29.2%, resulting in a value of $652.00 Million.
The crypto is trading with a long/short ratio of 0.9395 and it has witnessed a long liquidation of $1.75 Million. Also, the market cap of the Chainlink crypto has increased by 1.95% and its market cap ranking is 13th.
The trading volume of LINK has declined by 20.4% in the last 24 hours and its volume ranking is 16th in the global crypto market.
Moreover, the volume/market cap ratio of the crypto is 6.26% while the market cap dominance is 0.52%
Chainlink Token Overview
The Chainlink crypto has a total supply of 1.0 Billion LINK and the max supply is also the same. The fully diluted market cap of the crypto is $14.27 Billion and the token has 715.1K holders while the circulating supply market cap of the crypto is $8.16 Billion.
LINK Crypto Technical Analysis
The LINK crypto was consolidating inside a range for a long time. The trading price of the crypto broke out above the consolidation range and is currently sustaining at higher levels.
Moreover, after the advance in the price, the crypto has formed a small consolidation range and if the price of the crypto further breaks above the last swing high, we might witness a further surge in the price.
LINK/USD Chart by TradingView
The 20-day and the 50-day EMAs overlap with each other while the EMAs are forming a golden cross. The price of the crypto has declined below the 50-day EMA but is sustaining above the 200-day EMA.
The MACD is also showing uncertainty in the price as it is at the zero level and the MACD and the signal lines have overlapped with each other.
The RSI is following a small range and is acting volatile, presenting uncertainty in the momentum of the price.
Summary
The Chainlink crypto price has broken out of a consolidation range, but faces uncertainty due to declining volume, market cap, and indicators. The crypto may spike or drop in the upcoming days based on the breakout of the crypto price in either direction.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.