Chainlink (LINK) on Monday 13-Jun moved lower with -5.42% lower to 5.93.
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Performance after Monday 13-Jun
Period Pct Chg Momentum
Monday -5.42% -0.34
Week to-date -10.37% -0.65
June -25.96% -1.97

ChainLink Analysis

Chainlink (LINKUSDT) price for the week to-date dropped -10.37% or -0.65 lower to 5.62. At time of writing into Tuesday’s trading session, Chainlink has decreased by -6.18% over the past 24 hours. For the record, ChainLink is -89.34% below all-time high of 52.70. On Monday, LINK dropped -5.42% to 5.93.

On the daily timeframe, price is below 9-Day EMA and Stochastic oscillator is falling but in oversold zone, our analysis is that there could be selling pressure as the outlook looks bearish.

For the month-to-date, LINK is down by -25.96% or -1.97 lower.

What can we expect from Chainlink today?

Looking ahead for the day, immediate support level is at 5.37000 (S1) with break below could see further selling pressure towards 4.81000 (S2). For potential buyers, as the current momentum is falling, we prefer to look at firm break of the recent daily high of 6.35000 as an important indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. Chainlink need to break on either side to indicate a short-term bias. A close below 5.30000 would indicate selling pressure.

For the week to-date, take note that Chainlink is falling as the pair posted lower, down by -10.37%. Prior performance for the week ending 2022-06-12 was -17.93%.

Key levels to watch out:

R3 7.47000
R2 6.91000
R1 6.42000
Daily Pivot 5.86000
S1 5.37000
S2 4.81000
S3 4.32000

Last updated: 02:33 am UTC, 14-Jun 2022

About Chainlink

Chainlink is a framework for building Decentralized Oracle Networks (DONs) that bring real-world data onto blockchain networks, enabling the creation of hybrid smart contracts. These DONs provide decentralized services such as Price Feeds, Proof of Reserve, Verifiable Randomness, Keepers, and the ability to connect to any web API.It aims to ensure that the external information (pricing, weather data, event outcomes, etc.) and off-chain computations (randomness, transaction automation, fair ordering, etc.) fed to on-chain smart contracts are reliable and tamper-proof.

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