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April 14, 2023
After ending the previous trading day at $7.47, Chainlink went up to $7.88 only to drop back; still positive overall today, now trading at $7.74.
United States's Retail Sales new data released of -1% below its previous figure.
Nevertheless, Core Retail Sales in United States fell short of market expectations (-0.3%) with a reading of -0.8%, continuing the decline from the previous figure of 0%. Retail Sales in United States fell short of market expectations (-0.4%) with a reading of -1%, continuing the decline from the previous figure of -0.2%. Highly important Producer Price Index data from United States beat analyst expectations of 0.1% with a reading of -0.5%.
Chainlink USD broke through the $7.58 resistance, climbing 16 cents above it. The Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Price action overcame a known Fibonacci resistance level at $7.57 by around $0.178 with prices hammering out a $7.47 – $7.88 session range. Chainlink has crossed the upper Bollinger Band® at $7.7, a potential sign that further gains are to follow.
Overall, looking at the technical analysis landscape, it seems Chainlink might continue pointing upwards in the short term.
Chainlink shows positive signs, other assets are also on par: FTX Token surges 9.54% to trade around $1.36. Cosmos USD is up 4.39% to $12.34. Having closed the previous session at $2,012.61, Ethereum is up 3.18% today to currently trade at around $2,076.66.
Registering some good gains for about a month now. 3 months ago, Chainlink fell to a low of $5.47 but has since recovered 36.46%.
