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Will LINK Continue To Underperform Ahead?
The post Will LINK Continue To Underperform Ahead? appeared on BitcoinEthereumNews.com. The LINK token price has breached the key support zone of $15 and is below the key moving averages, directing bearishness on the chart. Moreover, the price action reflects severe distribution from $22, losing over 35% of the gains in the last 30 trading sessions. However, this week, the token has made multiple doji candlesticks and is attempting a reversal. The bulls need to cross the immediate barrier of $15 to regain momentum. At press time, the LINK was $14.08 with an intraday gain of 2.33%, reflecting neutrality on the charts. It has a monthly return ratio of -23.87% and 87.29% on a yearly basis. The pair of LINK/BTC is at 0.000220 BTC, and the market cap is $8.23 Billion. Analysts are neutral and suggest that the LINK token may continue to face selling pressure and will resume the underperformance ahead. LINK Price Volume Profile Analysis On Daily Chart The chart displays the price to volume profile of the Chainlink crypto reflecting the range bound movements this week. Moreover, the price action replicates the indecisiveness between bulls and bears. The intraday trading volume surged over 25.89% to $318.19 Million. Price Volatility & Weighted Sentiment Outlook Amidst the range bound price movement, the token displays a sharp spike in the price volatility curve throughout the week. The price volatility curve noted a jump over 5.43% to 0.018. Likewise, the weighted sentiment looks strong and stayed in the positive region around 3.459. Social Dominance & X Followers Overview Per the data, the social dominance charts noted a decline and dropped over 12.40% to 0.615%, noting a neutral outlook in the discussion reports.Conversely, the X follower’s data replicated a bounce and surged over 65.20% to 2125. Development Activity and Total Open Interest Insights The development data witnessed a follow-on incremental move and surged…
The post Will LINK Continue To Underperform Ahead? appeared on BitcoinEthereumNews.com.
The LINK token price has breached the key support zone of $15 and is below the key moving averages, directing bearishness on the chart. Moreover, the price action reflects severe distribution from $22, losing over 35% of the gains in the last 30 trading sessions. However, this week, the token has made multiple doji candlesticks and is attempting a reversal. The bulls need to cross the immediate barrier of $15 to regain momentum. At press time, the LINK was $14.08 with an intraday gain of 2.33%, reflecting neutrality on the charts. It has a monthly return ratio of -23.87% and 87.29% on a yearly basis. The pair of LINK/BTC is at 0.000220 BTC, and the market cap is $8.23 Billion. Analysts are neutral and suggest that the LINK token may continue to face selling pressure and will resume the underperformance ahead. LINK Price Volume Profile Analysis On Daily Chart The chart displays the price to volume profile of the Chainlink crypto reflecting the range bound movements this week. Moreover, the price action replicates the indecisiveness between bulls and bears. The intraday trading volume surged over 25.89% to $318.19 Million. Price Volatility & Weighted Sentiment Outlook Amidst the range bound price movement, the token displays a sharp spike in the price volatility curve throughout the week. The price volatility curve noted a jump over 5.43% to 0.018. Likewise, the weighted sentiment looks strong and stayed in the positive region around 3.459. Social Dominance & X Followers Overview Per the data, the social dominance charts noted a decline and dropped over 12.40% to 0.615%, noting a neutral outlook in the discussion reports.Conversely, the X follower’s data replicated a bounce and surged over 65.20% to 2125. Development Activity and Total Open Interest Insights The development data witnessed a follow-on incremental move and surged…
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