| 
June 09, 2023
Without a clear-cut direction, Chainlink is trading around $5.97 and ranging between $5.94 and $6.
Chainlink's state is reflected by market data as highly important Initial Jobless Claims data from United States beat analyst expectations of 235,000 with a reading of 261,000. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.39 trillion, while the previous figure was 8.39 trillion. Fresh Reserve Balances with Federal Reserve Banks data from United States came out at 3.31 trillion.
Chainlink chart analysis: Chainlink USD is oscillating around the $5.94 level serving as support. Concerning technical analysis and more specifically, trend indicators, the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. Asset volatility analysis shows that Chainlink's upper Bollinger Band® is at $6.78 and the lower is $5.89.
Overall, technical indicators suggest Chainlink has no obvious direction for the immediate future.
Other markets show mixed performance as FTX Token gained 9.54% and is currently trading at $1.36. After ending today's session at $0.323, Cardano lost $0.004 and is trading around $0.318. Binance Coin withdraws 0.64% to trade around $260.42.
Trending downwards for around a month. Over the past 9 months, Chainlink has retreated 35.74% from a noteworthy peak of $9.33.
