#LINK Chainlink (LINK) is currently trading at $15.74 with a 15.81% increase in the last 24 hours. Here's a detailed technical analysis:
*Key Metrics:*
- *Current Price*: $15.74
- *Market Cap*: $10.37 billion
- *24-hour Trading Volume*: $546.34 million
- *Circulating Supply*: 657.09 million LINK tokens
- *Max Supply*: Not available
*Price Performance:*
- *24-hour Range*: $13.72 - $15.88
- *All-time High*: $52.88 (May 10, 2021)
- *All-time Low*: $0.1263 (September 23, 2017)
*Technical Analysis:*
Chainlink has broken through the ceiling of a falling trend channel, indicating a slower falling rate or a more horizontal development. An inverse head and shoulders formation is under development, and a decisive break of the resistance at $14.89 could signal a further rise. The RSI curve shows a rising trend, which might be an early signal of a rising trend for the price ¹.
*Trading Signals:*
- *Buy Signal*: If LINK breaks above $15.88, it may surge to $17 or higher, considering its recent rally and positive sentiment.
- *Sell Signal*: If LINK falls below $13.72, it may drop to $12.70 or lower, given the current market volatility.
*Trading Ideas:*
Some analysts predict ² ¹:
- A potential shift in trend direction after breaking out of a falling channel
- A bullish reversal on the daily chart after denying further downward momentum around the $10.11 key support zone
- A possible breakout of resistance after entering a consolidation phase