- Chainlink’s (LINK) price has gone down in the last 24 hours to $11.24.
- The trading volume of LINK in the last 24 hours has fallen compared to the day prior.
- The price of LINK can fall even lower if it is unable to maintain its position above $11.
Chainlink (LINK) is down in the last 24 hours, taking its price to $11.24 at the time of writing, according to CoinMarketCap.
The price of LINK is down 0.35% in the last 24 hours, together with a large portion of the rest of the crypto market, which has also seen a price dip in the same time period. LINK’s price is down by 10.46% in the last seven days.
The trading volume of LINK in the last 24 hours has fallen compared to the day prior, as the 24-hour trading volume has decreased slightly by 3.64%, to over $430 million worth around 37,178,469 LINK at current prices.
When it comes to market cap, LINK is ranked 25th on CoinMarketCap’s list of the biggest crypto projects. The market cap of LINK currently sits at over $5.2 billion. It is ranked just under UNUS SED LEO (LEO), which has a market cap of around $5.3 billion. LINK ranks one position above FTX Token (FTT), with a market cap of more than $5.2 billion.
LINK hits the lowest low since the start of 2021 (Source: CoinMarketCap)
Looking at the weekly chart for LINK/USDT, the price of LINK has set a new weekly low. Furthermore, the gap between the 50 and 100 EMA narrows. Should the 50 and 100 EMA cross, we could see the price of LINK drop even more.
The RSI14 also stands at 37.63 at the time of writing. This means that there is still a chance that LINK will be sold more before entering into oversold territory.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.