InvestorsObserver gives Chainlink a weak long-term technical score of 28 from its research. The proprietary scoring system take into account the historical trading patterns from recent months to a year of the token’s support and resistance levels, in addition to where it is relative to long-term averages. The analysis helps to determine whether it’s a strong buy-and-hold investment opportunity currently for traders.
LINK at this time has a superior long-term technical analysis score than 28% of crytpos in circulation. The Long-Term Rank will be most relevant to buy-and-hold type investors who are looking for strong steady growth when allocating their assets. Combining a high long and short-term technical score will also help portfolio managers discover tokens that have bottomed out.
Trading Analysis
LINK is currently -$0.9000000 (-13.23%) below its 100-day moving average price of $6.820000000 with its current price of $5.920000000. Meanwhile, Chainlink is $0.5500000 (-94.78%) above its 52-week low price of $5.360000000 and -$22.65000000 (-14.29%) below its 52-week high of $28.570000000. The current price relative to its moving average and 52-week high and low leads to an average long-term technical score of 28. Trends for the long-term trading history of Chainlink suggest that traders are currently bearish on the token.
Chainlink has a total market value of $3,006,057,151.58 with an high average daily volume of $1,189,953,322.88 worth of the currency exchanged over a typical 24 hour period. As of the past 24 hours, LINK’s volume is below its average with $149,227,371.81 exchanged in total.
This token’s subclass Smart Contracts: A computer program designed to automatically execute when predetermined conditions are satisfied. Typically used to execute transactions quickly and automatically, with terms written directly into lines of code.
Summary
LINK’s historical trading over the past year gives it a a weak long-term technical score of 28 as its price movement in that time has given investors reason to be bearish on the token in the long-term.
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