Chainlink receives a weak long-term technical score of 20 from InvestorsObserver analysis. Our proprietary scoring system considers the trading patterns over the past several months to a year by analyzing the token’s consistency, volatility, and where it is relative to long-term averages to determine whether it’s a strong buy-and-hold investment opportunity.
Currently, LINK holds a superior long-term technical analysis score than 20% of crytpocurrencies. Long-term investors employing a buy-and-hold strategy will find the Long-Term Rank especially relevant when allocating their assets and may find additional value finding cyptos with a high short-term technical score to discover tokens that have bottomed out.
Trading Analysis
LINK is currently -$6.8100000 (-29.73%) below its 100-day moving average price of $22.910000000 with its current price of $16.100000000. Meanwhile, Chainlink is $2.6700000 (37.97%) above its 52-week low price of $13.420000000 and -$36.78000000 (11.53%) below its 52-week high of $52.880000000. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 20. Trends for the long-term trading history of Chainlink suggest that traders are currently bearish on the token.
Chainlink has a market capitalization of $7,517,213,340.62 and a relatively high average daily volume with $3,442,135,685.72 worth of the currency traded over the typical 24 hour period. Over the last 24 hours, LINK’s volume is below its seven day average with 478,227,802.70 exchanged.
This token’s subclass Smart Contracts: A computer program designed to automatically execute when predetermined conditions are satisfied. Typically used to execute transactions quickly and automatically, with terms written directly into lines of code.
Summary
Technical analysis of Chainlink over the past year results in the crypto receiving a a weak long-term technical score of 20 as its price movement in that time has given traders reason to be bearish on the token in the long-term.
Stay In The Know
Subscribe to our daily morning update newsletter and never miss out on the need-to-know market news, movements, and more.
Thank you for signing up! You’re all set to receive the Morning Update newsletter