What do the Long-Term Technicals Predict for Chainlink (LINK) Tuesday?

Tuesday, October 31, 2023 06:22 PM | InvestorsObserver Analysts

Chainlink receives a strong long-term technical score of 95 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 95% 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.

InvestorsObserver is giving Chainlink a 95 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 $4.0300000 (55.07%) above its 100-day moving average price of $7.320000000 as its price at the moment sits at $11.350000000. Additionally, LINK is $6.3700000 (7.07%) higher than its 52-week low price of $4.980000000 while -$0.56000000 (11.35%) under its 52-week high of $11.910000000. The current trading price in relation to its long-term average along with its 52-week high and low, gives LINK a strong long-term technical score of 95. Long-term trading movement of Chainlink suggest that investors are neutral on the token at the moment. Chainlink has a total market value of $6,321,550,086.34 with an high average daily volume of $5,596,626,088.86 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 $793,937,515.46 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

Trading patterns over the last year for Chainlink leads to the token's a strong long-term technical score of 95 as its consistency, volatility, and relation to long-term averages has given investors reason to be neutral on the token. Click Here to get the full Report on Chainlink (LINK).