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March 18, 2023
On a 6 day uptrend, Today's session might suggest a slow down — Chainlink trades at $7.22, after ending today at $7.22.
Trend analysis indicates that the MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. Analysis based on the asset volatility indicates that Chainlink's upper Bollinger Band® is at $7.88, suggesting that a downward move may follow.
Overall, while Chainlink has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Other markets show mixed performance as FTX Token is up 9.54% to $1.36. Having closed the previous session at $21.65, Solana is up 3.74% today to currently trade at around $22.46.
Having soared to a high of $18.08 approximately 11 months ago, Chainlink is now trading 60.06% lower.
