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March 13, 2023
Without a clear-cut direction, Chainlink is trading around $6.62 and ranging between $6.43 and $6.72.
- Chainlink is currently trading at $6.62 following the release of U.S. President Biden speech data from the United States.
- While flat so far today, Chainlink is on a 5 day bullish trend, gaining a total of $0.452 throughout.
United States Participation Rate (Feb) released today at 13:30 UTC with a figure of 118.3, while the previous figure was 62.4.
Concerning technical analysis and more specifically, trend indicators, Chainlink USD made an initial break below its 10 day Simple Moving Average at $6.55, a possible indication of a forthcoming negative trend. Asset volatility analysis shows that Chainlink's upper Bollinger Band® is at $7.95 and the lower is $5.92. Chart analysis indicates Chainlink is approaching key support, around 46 cents away from $6.16. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Notwithstanding Chainlink's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Consumer Price Index figure is projected at 6%. It previously stood at 6.4%; data will be released tomorrow at 12:30 UTC.
FTX Token is up 9.54%. Binance Coin is up 4.95% to $304.91. Having closed the previous session at $22,179, Bitcoin is up 3.95% today to currently trade at around $23,055.
Having soared to a high of $18.08 approximately 11 months ago, Chainlink is now trading 63.43% lower.
