Chainlink (LINK): How Does it Rank Friday on Long-Term Trading Metrics?

Friday, December 03, 2021 08:03 AM | InvestorsObserver Analysts

Chainlink receives an average long-term technical score of 64 from InvestorsObserver's research based on historical trading patterns. The proprietary scoring system weighs price movement from recent months to a year, analyzes the token's support and resistance levels, and where it is relative to long-term averages to determine whether it's a strong buy-and-hold investment opportunity. LINK currently holds a superior long-term technical analysis score than 64% of cryptos in circulation. This ranking metric is most useful to buy-and-hold type investors looking for strong steady growth when allocating their assets. tokens with a high long and short-term technical score can help indicate assets that have bottomed out, providing investors a chance to 'buy the dip'.

InvestorsObserver is giving Chainlink a 64 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

LINK is currently -$2.57 (-9.17%) below its 100-day moving average price of $28.02 with its current price of $25.45. Meanwhile, Chainlink is $16.94 (169.78%) above its 52-week low price of $8.51 and -$27.43 (29.21%) below its 52-week high of $52.88. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 64. Trends for the long-term trading history of Chainlink suggest that traders are currently neutral on the token. Chainlink has a market capitalization of 11,884,003,633.68 and a relatively high average daily volume with 5,459,032,875.77 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 762,659,555.81 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 an average long-term technical score of 64 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).