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March 15, 2023
Chainlink is down to $6.54, after ending today at $7. Overall, a 6.4% loss or $0.458 today.
Chainlink is currently trading at $6.54 following the release of Crude Oil Inventories data from the United States.
Chainlink USD's lower Bollinger Band® is at $6, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Despite suffering losses in today's session, technical analysis is indicating that Chainlink will undergo a significant bounce in the immediate term.
In the meantime, negative performances are also seen in other markets, Litecoin falls 9.7% to trade around $76.15. Dogecoin is trading around $0.07 (down $0.005). EOS drops 6.74% to trade around $1.04.
Some optimism can drawn from the fact that United States Initial Jobless Claims is projected to outperform its last figure with 205,000. It previously stood at 211,000; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Philadelphia Fed Manufacturing Index (Mar) will be released tomorrow at 12:30 UTC. United States Building Permits (Feb) is scheduled for tomorrow at 12:30 UTC.
Having soared to a high of $18.08 approximately 11 months ago, Chainlink is now trading 61.34% lower.
