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March 05, 2023After closing the previous trading day at $6.86, Chainlink went up to $7 only to drop back; still positive overall today, now trading at $6.93.
Chainlink USD made an initial breakout above its 200 day Simple Moving Average at $7, a potential indicator of a newly emerging bullish phase. Chainlink formed a session range of $6.82 to $7 leaving buyers and sellers highly concentrated around an active Fibonacci resistance level of $7. Chainlink's lower Bollinger Band® is at $6.6, indicating that the market is oversold and fertile for new buyers. In contrast, after reaching the known resistance zone beginning at $6.96, Chainlink price action retreated approximately 3 cents.
Chainlink continues to move higher with technical analysis indicating the trend will continue in the short term.
Chainlink shows positive signs, other assets are also on par: FTX Token added 9.54% to its value, now trading at $1.36. Cosmos USD gained 2.97% and is currently trading at $12.19.
Meanwhile, UNICORN Token USD is trading around $6.43 (down $0.197).
Trading mostly sideways for 2 months. 11 months ago Chainlink reached a significant high of $18.08 but has consequently lost 62.08% since then.
