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April 07, 2023
It's been more of the same this session on the back of 12 days of flat trade, Today's session so far looks to be heading in a similar way — Chainlink trades at $7.2, after ending today at $7.2.
Uncertainty around Chainlink is reflected by published market data as United States Initial Jobless Claims released earlier showed a marked improvement to 228,000 from the preceding data of 246,000, but fell short of the 200,000 figure forecast by a consensus of market analysts. United States Reserve Balances with Federal Reserve Banks released yesterday at 20:30 UTC with a figure of 3.38 trillion, while the previous figure was 3.40 trillion. United States Fed's Balance Sheet came out at 8.63 trillion.
Chainlink USD's upper Bollinger Band® is at $7.64, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests Chainlink is positioned for a downward move in the near term.
Other markets show mixed performance as FTX Token gained 9.54% and is currently trading at $1.36. NEAR Protocol is down $0.027 from the beginning of the session and now trades around $2.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as today at 12:30 UTC data for United States Non Farm Payrolls will be released, with an expected decline to 239,000 from the preceding figure of 311,000. United States Unemployment Rate figure is projected at 3.6. It previously stood at 3.6; data will be released today at 12:30 UTC.
Registering some good gains for about 30 days now. Chainlink is trading 54.32% lower compared to the $15.76 high it reached over the past year.
