Follow these steps to get started Bitcoin [BTC] For a few days, there has been a resurgence. Chainlink [LINK] LINK is trading at lower levels. At press time, LINK was trading at $6.83, a 7.07% drop from the previous day’s price.
LINK’s trading volume had fluctuated between $6.20 and $7.51 during the 16-to-20 July period. Its trading volume increased by 27.8% between 20 July and 20 July only for it to then fall again. The 24-hour trading volume at $801 084,687 was 19.47% lower as of this writing.
It is important to mention that LINK has been integrating lately, which resulted in a small price increase. Although it was a strong run for LINK, how is it now at its current spot?
What have we seen?
There have been a few changes over the past 24 hours. The LINK/USDT price graph revealed It has been difficult for the coin to break the $7.34 resistance.
Although it had shown signs of crossing the line earlier, it eventually gave up and fell below $7. Investors were expecting a rebound and have had their eyes on the coin. However, it seems unlikely that this expectation will be realized in the near term.
Source: TradingView
Due to the Exponential Moving average (EMA) state, projections might not be achievable. The current price is trading at the edge of the EMA so it’s possible that LINK moves further down.
The upward trend is also evident in the 50-period EMA and the 20-period EMA. The 20 EMA is currently higher than the 50 EMA and could see a brief bullish move. The EMAs are still very close so the direction of the market could change.
The Relative Strength Index, (RSI), also looks at the same page as the EMA movement. The RSI at 58.91 was reported as of press time. This indicates that buyers are feeling good. Investors should be vigilant about the LINK movement, despite the positive balance.
Source: TradingView
Take it on-chain
According to Santiment Data, LINK is relatively steady. While the market cap went up with its price during the price rise, it’s now down to $3.22 billion, a similar one it was thirty days back.
However, the average developer activity has increased on Chainlink. The Chainlink network’s recent integrations could explain this increase. Previous.
Source: Santiment
Despite the fluctuations, LINK doesn’t seem to be performing poorly. Investors should take it slow and be optimistic about LINK’s short-term performance.