Chainlink drops from $6.98 to $6.94, losing $0.04 (0.57%) today.
- United States Initial Jobless Claims is next today at 13:30 UTC.
- While flat so far today, Chainlink is on a 9 day bullish trend, gaining a total of $0.643 throughout.
Earlier data releases related to Chainlink – United States Crude Oil Inventories published yesterday at 15:30 UTC came out at 533,000, falling short of the 971,000 projections and continuing its decline from the previous 8.41 million figure. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973.
Technical analysis of Chainlink before macro data is released:
Technical chart analysis shows Chainlink USD is approaching key support, around 6 cents away from $6.94. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. Trend-focused traders would be interested to note that Chainlink made an initial breakout above its 200 day Simple Moving Average at $7, a potential indicator of a newly emerging bullish phase. Analysis based on the asset volatility indicates that Chainlink's upper Bollinger Band® is at $7.28, suggesting that a downward move may follow.
Overall, while Chainlink has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
Coming up for Chainlink — United States Core Durable Goods Orders projected to decline to -0.2% while previous data was 0.1%; data will be released today at 13:30 UTC. United States Pending Home Sales is projected to outperform its last figure with -0.9%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC.
As the markets get ready for more data to be released — UNICORN Token USD is up 2,840,500%. Having closed the previous session at $1.24, FTX Token is up 9.54% today to currently trade at around $1.36. After ending today's session at $0.418, Ripple lost $0.005 and is trading around $0.413.
Chainlink is up 27.48% from the significant low of $5.47 it hit 27 days ago.