Puffer
Bitcoin
ZKsync
NEAR Protocol
Walrus
Pearl
Ondo
- The LINK crypto price has increased by 4.7% in the last 24 hours.
- The LINK crypto has witnessed a 16.45% increase in its open interest, as per Coinglass.
Chainlink is a network of oracles that link real-world data to smart contracts on Ethereum. LINK is its token, used for paying and rewarding oracles. Chainlink provides secure and reliable DApps for various domains. It was founded by Nazarov and Ellis in 2017 with the Web3 Foundation’s support.
The Chainlink token has a total supply of 1.0 Billion LINK and the max supply is also the same. Its market cap is $8.984 Billion and its market cap ranking is 13th.
The trading volume of the Chainlink token has increased by 27.9% in the last 24 hours, resulting in a traded volume of $642.688 Million. The volume/market cap ratio of the crypto is 6.75% and the fully diluted market cap of the crypto is $15.802 Billion.
The circulating supply is 568.099 Million LINK and the market cap dominance of the crypto is 0.508%.
Chainlink Crypto Derivatives Analysis
The Chainlink crypto has witnessed a higher short liquidation of $547.87K along with a long liquidation of $361.18K in the last 24 hours. The derivatives trading volume has increased by 28.3% and the long/short ratio of the crypto is 0.9912.
The derivatives data demonstrates that the buyers are leading over the last 24 hours.
LINK Crypto Technical Analysis
The LINK crypto was trading inside a tight rectangular zone for more than a year after which, the price broke above the zone. This breakout led to a strong momentum for the price, resulting in a surge of more than 50%.
After the surge, the price of the crypto is currently taking a rest by forming a small consolidation zone again by sustaining above the breakout levels. If the price of the LINK crypto again breaks above the level of $18.300, we might get to see one more surge in the price.
LINK/USD Chart by TradingView.com
The 20-day, 50-day and 200-day EMAs are forming a golden cross together and the price of the crypto is trading above all of these EMAs. This behavior of the price represents strength.
The MACD lines are trading in a golden while the signal line has fallen below the zero level. Thus, unless the signal line rises above the zero level, the confirmation of the uptrend will be considered incomplete.
The RSI is sustaining above the 50-level and has also risen above the 14-day SMA, indicating strength in the momentum of the LINK crypto.
Summary
Chainlink has a strong market position and the technical indicators are mostly bullish. The LINK price broke above a consolidation zone and could surge further if it clears the $18.300 hurdle. The indicators also indicate positivity on the charts and point to the likelihood of a bullish move.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
