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Chainlink price analysis: Price shows bearish tendency as drop occurs up to $25.81

Chainlink-price-analysis-2021-11-24″>The latest Chainlink price analysis confirms a bearish trend for the day as the price has deflated to $25.81 in the last 24-hours. A constant fall in the market value of LINK/USD has been going on for the past few weeks, which has cast quite a negative impact on its demand. The same trend has continued today, as further devaluation in coin value is taking place because of bearish lead.

LINK/USD 1-day price chart: Cryptocurrency value degraded to $25.81 as selling trend continues

The one-day Chainlink price analysis shows signs of a downward trend as more selling activity occurs during the day. The price curve is moving descendingly after the continual drop in price. The past few weeks proved to be quite crucial for the cryptocurrency value as a constant downtrend. The price has decreased to $25.81, which is relatively low than its moving average (MA) value, i.e., $27.79.

The short-term trending line is moving downward as overall, the bears have been on the winning side. The upper Bollinger band is now touching the $28.54 mark, whereas the lower Bollinger band is at the $25.47 mark. The RSI score has increased up to 35.89 as a result of the bullish trend.

LINK/USD technical indicators chart. Source: TradingView

The past few months have left quite a negative impact on the market value of LINK/USD, as a bearish trend has been on the dominating side. This is why the technical indicators chart is giving out a strong bearish indication. We can see that 16 hands are on the selling position, ten indicators are on the neutral, and zero indicators are on the buying position.

The Moving Averages Indicator is giving out a negative indication as well because of the bearish slide. Fourteen indicators are present on the selling position; one hand is on the neutral position, while zero is the buying position. The Oscillators are giving a bearish signal, and nine indicators are on the neutral side; two hands are on the selling side while zero indicators are on the buying side.

Chainlink price analysis conclusion

The one-day and four-hour Chainlink price analysis confirms a bearish trend for the day as a considerable decline in LINK/USD value is observed. The price has moved down to $25.82 because of the bearish pressure. The four hours price chart, on the other hand, shows a green candlestick which is a sign of recovery.

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