Chainlink has dipped all the way to #22 where it currently rests in the market underneath Cosmos. The price diminished at a rate of 5.23% in the course of the past 24-hours. The trading volume recorded stands at $101.443 million, whereas the supply has 350,000,000 LINK tokens in play for now. As of this instant, the total market cap of Chainlink is $555.640 million. LINK is priced at $1.59.
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— SmartContract.com (@Smart_Contract) September 11, 2019
The final 2 peaks for the Awesome Oscillator have both been brown, indicating furious activity by sellers. The daily RSI had waned below 30 for a while, which brought LINK in oversold territory, but has since jumped to 30.23. The MACD line has also sunk below the signal line today, which points to bearish action is prevalent.
The support level formed at $1.44756 a day ago may not hold for much longer. If sellers kept growing, LINK may dip to reach $1.3 by next week. $2.62 where resistance shall play a part seems so far away.
We’re thrilled to announce the upcoming launch of 7 new crypto price reference data sets on @ethereum that use our increasingly decentralized oracle networks: https://t.co/Bl8Oiup3HA We hope great #DeFi teams like @compoundfinance, @synthetix_io, and many others find them useful pic.twitter.com/1SwA7Z3GBV
— Chainlink – Official Channel (@chainlink) September 12, 2019
A recent research report conducted by AnChain examines the likely possibility that Chainlink is susceptible to pump-and-dumps. In fact, right after the COINBASE listing, the movement of the altcoin was scrutinized and connections to suspicious actors and those trying to hide their identities were discovered.
This may have contributed to the fall of Chainlink which led to the asset transforming into a big loser. While the applications of Chainlink’s technology is unrivaled, such occurrences will result in popularity tanking.
About Post Author
Aditya Chatterjee
A specialist in comics and cryptocurrencies with an inclination towards DASH and Cardano. I have an innate desire to be a seasoned trader in the near future. Analyzing candlestick charts is a personal hobby.
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