{"id":529116,"date":"2023-04-28T15:10:02","date_gmt":"2023-04-28T15:10:02","guid":{"rendered":"https:\/\/ktsl888.com\/?p=529116"},"modified":"2024-06-11T08:12:02","modified_gmt":"2024-06-11T08:12:02","slug":"chainlink-price-slides-as-the-bear-try-to-take-over-will-a-rally-follow","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/chainlink\/chainlink-price-slides-as-the-bear-try-to-take-over-will-a-rally-follow\/","title":{"rendered":"Chainlink Price Slides As The Bears Try To Take Over, Will A Rally Follow?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Chainlink (LINK) is experiencing <\/span><span style=\"font-weight: 400\">price volatility<\/span><span style=\"font-weight: 400\"> today despite its slight gains. The bears aim to take control over the price action as LINK dropped <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/chainlink\/historical-data\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">from $8.5764 on April 18 to $7.7704<\/span><\/a><span style=\"font-weight: 400\"> on April 19, 2023.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Its trading volume is up by 97% in the last 24 hours. It also gained 2.27% on its price yesterday. But LINK price shows a decline on today&#8217;s chart representing a bear control. <\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, the overall crypto market cap is down by 0.92%, indicating that bears are in control. Top coins such as BTC and ETH display a bearish trend that is most likely pushing other altcoins to decline.<\/span><\/p>\n<h2>What&#8217;s Ahead For LINK?<\/h2>\n<p><span style=\"font-weight: 400\">LINK has formed a red candle on today&#8217;s daily chart, dropping below its 50-day <\/span><span style=\"font-weight: 400\">Simple Moving Average (SMA)<\/span><span style=\"font-weight: 400\">, a short-term bearish sentiment.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also, it has remained in the sideways trend that began on April 22, 2023, showing that the bears and bulls might be at a stalemate in the market. The price change in this period is slight, but a spike in trading activity is evident for the asset.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/terra-classic-recent-efforts-could-benefit-luncs-growth-potential\/?swcfpc=1\"> Terra Classic Recent Efforts Could Benefit LUNC\u2019s Growth Potential<\/a><\/p>\n<p><span style=\"font-weight: 400\">LINK&#8217;s <\/span><span style=\"font-weight: 400\">Relative Strength Index (RSI)<\/span><span style=\"font-weight: 400\"> is 44.58, descending to the oversold region. It implies that further price decline is possible in the coming days. LINK is still above its 200-day SMA despite the price volatility. The 200-day SMA has turned into a support level for the asset at $6.942, indicating a recovery in the long term.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Other vital support levels are $6.4 and $6.75. Also, its resistance levels are $7.456, $7.735, $8.8, and $9.48. At the $7.456 resistance, the bears intend to keep LINK&#8217;s price down.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">It will likely descend to the $6.942 support level soon, which can act as a pivot point to spark a bullish rally.\u00a0<\/span><\/p>\n<h2>Chainlink Upcoming Hackathon Event Sparks Hope Of A Rally<\/h2>\n<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/chain.link\/hackathon?utm_medium=social&amp;utm_source=twitter&amp;utm_campaign=spring-2023-hackathon&amp;agid=sttqzbunpgke\" rel=\"nofollow\"><span style=\"font-weight: 400\">Chainlink Hackathon event<\/span><\/a><span style=\"font-weight: 400\">\u00a0promises to bring exciting innovators and developers together. The event will kick off today, April 28, until June 9, 2023. Notably, this event will boost and create awareness in the crypto community.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/shiba-inu-whales-sell-billions\/?swcfpc=1\">Shiba Inu Whales Unload Billions Amid SHIB Price Retreat<\/a><\/div>\n<p><span style=\"font-weight: 400\">The <\/span><a href=\"https:\/\/docs.chain.link\/?_ga=2.52769448.1618582368.1682.1681546095\" rel=\"nofollow\"><span style=\"font-weight: 400\">Hackathon Spring 2023<\/span><\/a><span style=\"font-weight: 400\"> offers developers at different skill levels opportunities to compete in a prize pool of $450,000. Participants must create new decentralized applications (dApps) using Chainlink technology to showcase their potential. <\/span><span style=\"font-weight: 400\">Chainlink offers <\/span><span style=\"font-weight: 400\">Oracle services<\/span><span style=\"font-weight: 400\"> enabling <\/span><span style=\"font-weight: 400\">hybrid smart contracts<\/span><span style=\"font-weight: 400\"> to function on any blockchain.<\/span><\/p>\n<figure id=\"attachment_529132\" aria-describedby=\"caption-attachment-529132\" style=\"width: 860px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-529132 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/04\/LINKUSDT_2023-04-28_19-15-23.png?resize=860%2C501\" alt=\"Chainlink Price Slides As The Bear Try To Take Over, Will A Rally Follow?\" width=\"860\" height=\"501\"><figcaption id=\"caption-attachment-529132\" class=\"wp-caption-text\">LINK trends downward on the chart l <a href=\"https:\/\/www.tradingview.com\/x\/cQKdf3cR\/\" rel=\"nofollow\">LINKUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">Despite the current price slump, LINK has retained most of its gains in 2023. It moved from $5.6224 on January 1, 2023, to its <\/span><span style=\"font-weight: 400\">current price of $7.03<\/span><span style=\"font-weight: 400\">\u00a0at press time. The Hackathon and other developments on the network are vital to its hope of a bull run in 2023 and beyond.<\/span><\/p>\n<p>Featured image from Pixabay and chart from Tradingview<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chainlink (LINK) is experiencing price volatility today despite its slight gains. The bears aim to take control over the price action as LINK dropped from $8.5764 on April 18 to $7.7704 on April 19, 2023.\u00a0 Its trading volume is up by 97% in the last 24 hours. It also gained 2.27% on its price yesterday. But LINK price shows a decline on today&#8217;s chart representing a bear control. Notably, the overall crypto market cap is down by 0.92%, indicating that bears are in control. Top coins such as BTC and ETH display a bearish trend that is most likely pushing other altcoins to decline. What&#8217;s Ahead For LINK? LINK has formed a red candle on today&#8217;s daily chart, dropping below its 50-day Simple Moving Average (SMA), a short-term bearish sentiment.\u00a0 Also, it has remained in the sideways trend that began on April 22, 2023, showing that the bears and bulls might be at a stalemate in the market. The price change in this period is slight, but a spike in trading activity is evident for the asset.\u00a0 Related Reading: Terra Classic Recent Efforts Could Benefit LUNC\u2019s Growth Potential LINK&#8217;s Relative Strength Index (RSI) is 44.58, descending to the oversold region. It implies that further price decline is possible in the coming days. LINK is still above its 200-day SMA despite the price volatility. The 200-day SMA has turned into a support level for the asset at $6.942, indicating a recovery in the long term. Other vital support levels are $6.4 and $6.75. Also, its resistance levels are $7.456, $7.735, $8.8, and $9.48. At the $7.456 resistance, the bears intend to keep LINK&#8217;s price down.\u00a0 It will likely descend to the $6.942 support level soon, which can act as a pivot point to spark a bullish rally.\u00a0 Chainlink Upcoming Hackathon Event Sparks Hope Of A Rally The Chainlink Hackathon event\u00a0promises to bring exciting innovators and developers together. The event will kick off today, April 28, until June 9, 2023. Notably, this event will boost and create awareness in the crypto community. Related Reading: Shiba Inu Whales Unload Billions Amid SHIB Price Retreat The Hackathon Spring 2023 offers developers at different skill levels opportunities to compete in a prize pool of $450,000. Participants must create new decentralized applications (dApps) using Chainlink technology to showcase their potential. Chainlink offers Oracle services enabling hybrid smart contracts to function on any blockchain. Despite the current price slump, LINK has retained most of its gains in 2023. It moved from $5.6224 on January 1, 2023, to its current price of $7.03\u00a0at press time. The Hackathon and other developments on the network are vital to its hope of a bull run in 2023 and beyond. Featured image from Pixabay and chart from Tradingview<\/p>\n","protected":false},"author":584,"featured_media":527390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83381],"tags":[13217,16295,6664,79480],"class_list":["post-529116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chainlink","tag-bears","tag-chainlink","tag-crypto","tag-linkusdt"],"acf":[],"yoast_head":"\n<title>Chainlink Price Slides As The Bears Try To Take Over, Will A Rally Follow?<\/title>\n<meta name=\"description\" content=\"Chainlink (LINK) is experiencing price volatility today despite its slight gains. 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