Is Chainlink (LINK) Heading the Right Direction Tuesday?

Tuesday, July 05, 2022 03:14 PM | InvestorsObserver Analysts

InvestorsObserver gives Chainlink an average long-term technical score of 54 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the token's support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it's a strong buy-and-hold investment opportunity currently for traders. LINK at this time has a superior long-term technical analysis score than 54% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover tokens that have bottomed out.

InvestorsObserver is giving Chainlink a 54 Long-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Chainlink!
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Trading Analysis

Chainlink's price is -$3.8400000 (-37.96%) below its 100-day moving average price of $10.120000000 as its price at the moment sits at $6.280000000. Additionally, LINK is $0.9200000 (-88.06%) higher than its 52-week low price of $5.360000000 while -$31.88000000 (-9.75%) under its 52-week high of $38.160000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives LINK an average long-term technical score of 54. Long-term trading movement of Chainlink suggest that investors are neutral on the token at the moment. Chainlink has a total market value of $2,932,296,658.34 with an high average daily volume of $3,511,960,583.22 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, LINK's volume is below its average with $390,240,969.29 exchanged in total. 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 an average long-term technical score of 54 as its price movement in that time has given traders reason to be neutral on the token in the long-term. Click Here to get the full Report on Chainlink (LINK).

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