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April 24, 2023
Having lost $1.5 over 8 days, Today is looking a bit better: without a clear-cut direction, Chainlink is trading around $7.08 and ranging between $7.04 and $7.25.
Chainlink USD made an initial breakout above its 50 day Simple Moving Average at $7.2, a potential indicator of a newly emerging bullish phase. Chainlink's upper Bollinger Band® is at $8.34 and the lower is $6.61. Chainlink bounced after reaching the $7 support zone, climbing 8 cents above it.
Despite muted price action in Chainlink, chart analysis indicates it is positioned for a bullish run in the short term.
While Chainlink is pretty flat so far today, mixed performances are seen elsewhere as FTX Token gained 9.54% and is now trading at $1.36. After ending today's session at $6.63, UNICORN Token USD lost $0.197 and is trading around $6.43.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Building Permits is scheduled for tomorrow at 13:30 UTC. United States New Home Sales (Mar) is expected tomorrow at 14:00 UTC. United States Consumer Confidence projected to decline to 104 while previous data was 104.2; data will be released tomorrow at 14:00 UTC.
Chainlink has fallen back around 47.31% from the significant high of $13.45 set 11 months ago.
