• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Chainlink

Chainlink Price Slides As The Bears Try To Take Over, Will A Rally Follow?

Eli Dambel by Eli Dambel
1 month ago
in LINK
Reading Time: 3 mins read

Chainlink (LINK) is experiencing price volatility today despite its slight gains. The bears aim to take control over the price action as LINK dropped from $8.5764 on April 18 to $7.7704 on April 19, 2023. 

Its trading volume is up by 97% in the last 24 hours. It also gained 2.27% on its price yesterday. But LINK price shows a decline on today’s chart representing a bear control.

Notably, the overall crypto market cap is down by 0.92%, indicating that bears are in control. Top coins such as BTC and ETH display a bearish trend that is most likely pushing other altcoins to decline.

What’s Ahead For LINK?

LINK has formed a red candle on today’s daily chart, dropping below its 50-day Simple Moving Average (SMA), a short-term bearish sentiment. 

Also, it has remained in the sideways trend that began on April 22, 2023, showing that the bears and bulls might be at a stalemate in the market. The price change in this period is slight, but a spike in trading activity is evident for the asset. 

Related Reading: Terra Classic Recent Efforts Could Benefit LUNC’s Growth Potential

LINK’s Relative Strength Index (RSI) is 44.58, descending to the oversold region. It implies that further price decline is possible in the coming days. LINK is still above its 200-day SMA despite the price volatility. The 200-day SMA has turned into a support level for the asset at $6.942, indicating a recovery in the long term.

Other vital support levels are $6.4 and $6.75. Also, its resistance levels are $7.456, $7.735, $8.8, and $9.48. At the $7.456 resistance, the bears intend to keep LINK’s price down. 

It will likely descend to the $6.942 support level soon, which can act as a pivot point to spark a bullish rally. 

Chainlink Upcoming Hackathon Event Sparks Hope Of A Rally

The Chainlink Hackathon event promises to bring exciting innovators and developers together. The event will kick off today, April 28, until June 9, 2023. Notably, this event will boost and create awareness in the crypto community.

Related Reading: Shiba Inu Whales Unload Billions Amid SHIB Price Retreat

The Hackathon Spring 2023 offers developers at different skill levels opportunities to compete in a prize pool of $450,000. Participants must create new decentralized applications (dApps) using Chainlink technology to showcase their potential. Chainlink offers Oracle services enabling hybrid smart contracts to function on any blockchain.

Chainlink Price Slides As The Bear Try To Take Over, Will A Rally Follow?
LINK trends downward on the chart l LINKUSDT on Tradingview.com

Despite the current price slump, LINK has retained most of its gains in 2023. It moved from $5.6224 on January 1, 2023, to its current price of $7.03 at press time. The Hackathon and other developments on the network are vital to its hope of a bull run in 2023 and beyond.

Featured image from Pixabay and chart from Tradingview

Tags: bearschainlinkcryptolinkusdt
Tweet123Share196ShareSend
Eli Dambel

Eli Dambel

Eli brings an eclectic point of view to market analysis. Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future. You can follow Eli on Twitter: @EliDambel

Related Posts

Chainlink

Chainlink (LINK) Price Down Today As Bears Take Control – Here’s Why

1 week ago
Chainlink (LINK)

Chainlink (LINK) Price Falls Below $7, Are The Bears Back In Control?

4 weeks ago
Chainlink

Chainlink Trends In The Green Zone, Will A Rally Follow?

1 month ago
Chainlink

Chainlink Continues To Rise, Will It Surge Over The $9 Boundary?

1 month ago
Chainlink (LINK)

LINK Price Prediction: Chainlink Gearing For Another Lift-Off to $8

2 months ago
Bitcoin Daily Chart Indicates Crucial Bullish Breakout Towards $10,000

LINK Price Prediction: Chainlink Bulls Aim Key Bullish Break

2 months ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Bware Labs Launches $INFRA Token, making high API...

    9 hours ago
  • Is InQubeta the Best Utility Crypto of 2023? Huge Growth...

    12 hours ago
  • Coinbase launches campaign to educate public on blockchain...

    13 hours ago
  • Utility Coins like Avorak AI will always outperform memes...

    13 hours ago
  • Expect Tremendous Returns for DigiToads (TOADS), Near...

    13 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.