Tentatively higher from an earlier low of $8.07, Chainlink is up to $8.67 today, adding $0.507, or 6.21%, to today's closing price of $8.17.
Chainlink is currently trading at $8.67 following the release of Building Permits (Mar) data from the United States.
At the same time, United States TIC Net Long-Term Transactions (Feb) released yesterday at 20:00 UTC with a figure of 71 billion, while the previous figure was 31.9 billion. United States NY Empire State Manufacturing Index (Apr) came out at 10.8, while a consensus of analysts was expecting -18.
Chainlink USD broke through the $8.35 resistance, climbing 33 cents above it. Chainlink has just crossed its upper Bollinger Band® at $8.44, suggesting further gains could be on the cards. In contrast, although up today, early price action saw Chainlink dropping below its 3 day Simple Moving Average at $8.03 — an early indicator that a new downward trend could be emerging. The RSI is a momentum oscillator that measures changing price movements on a scale of 0-100. In Chainlink's case, the index has risen above 70, signalling that the asset is overbought.
Overall, looking at the technical analysis landscape, it seems Chainlink likely to continue pointing upward in the short term.
Chainlink shows positive signs, other assets are also on par: FTX Token is up 9.54%. Bitcoin is up 3.33%. Litecoin is up 3.95%.
Furthermore, the market is looking at tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.46 million from the preceding figure of 597,000.
Registering some good gains for about a month now. Chainlink hit a significant low of $5.47 around 3 months ago, but has since recovered 49.23%.
