After closing the previous trading day at $8.03, Chainlink went up to $8.34 only to drop back; still positive overall today, now trading at $8.18.
Chainlink's notable support and resistance levels: Chainlink USD reversed direction at $8.24 resistance zone and retreated back 6 cents below it. Trend-focused traders would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $8.09, thereby suggesting that Chainlink is becoming overvalued.
Overall, while Chainlink has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Chainlink shows positive signs, other assets are also on par: UNICORN Token USD is up 44.84%. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. Bitcoin Cash soars 6.54% to trade around $145.32.
The market is looking forward to the release of new data: United States Existing Home Sales (Jan) scheduled to come out tomorrow at 15:00 UTC.
Registering some good gains for about a month now. This year has been a bright one for Chainlink after trading as low as $5.47 and going on to appreciate by 45.48% year to date.