ChainLink Lower in Trading

ChainLink has slid nearly 15% in recent trading. After a steady rise throughout April, the crypto is experiencing a dip but is still up nearly 16% over the last full month. Chainlink has a market cap of $154,671,300 with circulating supply of 350,000,000.

Taking a look at some recent trading information, we note that ChainLink (LINK) has hit $0.441 on volume of 7578702 for the day. Following some key RSI values, we note that the one-week is presently 22, the two-week relative strength is 40 and the four-week relative strength of the cryptocurrency is 75. Taking a deeper look at some other time frames, we note that the thirteen-week RSI is 52, and the twenty-six week relative strength is 75. All RSI values land on a scale from 0 to 100.

The Relative Strength Index (RSI) is a frequently used momentum oscillator that measures the speed and change of crypto price movements. When charted, the RSI can serve as a visual means to monitor historical and current strength or weakness in a certain market. This measurement is based on closing prices over a specific period of time. As a momentum oscillator, the RSI operates in a set range. This range falls on a scale between 0 and 100. If the RSI is closer to 100, this may indicate a period of stronger momentum. On the flip side, an RSI near 0 may signal weaker momentum.

About ChainLink

ChainLink (Symbol: LINK) is safe Ethereum-based blockchain middleware that enables smart contracts on multiple networks to connect with the critical resources. The resource can be off-chain resources like different web APIs, data feed, and common bank accounts. More specifically, ChainLink allows users to connect to any existing API by efficiently attaching smart contracts on many different networks to users’ existing application and important external data. It enables users to send widely used payments from the smart contract to existing bank accounts and over commonly used payment networks. ChainLink also connects with other chains by forming secure cross-chain connectivity between users’ main smart contract and any other private or public chain. ChainLink team is located in San Francisco, California, USA.

ChainLink News

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