Chainlink Price Analysis — May 4
As mentioned earlier, Chainlink has fallen to its lowest point in over 17 months, as the DeFi giant slumped below the $11.00 mark. After a sideways open to the week, LINK now appears to be gaining some upward traction, as it tapped the $11.50 top for the first time in four days.
That said, the broader market sentiment has received a mild boost over the hours as traders hold ahead of the much-anticipated US Fed interest rate decision, dropping later today.
LINK will remain in a bearish bias until we record a break into the pivot zone at $15, which also houses the daily 100 EMA.
Meanwhile, my resistance levels are at $12.00, $15.00, and $17.50, and my support levels are at $11.00, $10,00, and $8.00.
Total Market Capitalization: $1.76 trillion
Chainlink Market Capitalization: $5.3 billion
Chainlink Dominance: 0.30%
Market Rank: #25
That said, the broader market sentiment has received a mild boost over the hours as traders hold ahead of the much-anticipated US Fed interest rate decision, dropping later today.
LINK will remain in a bearish bias until we record a break into the pivot zone at $15, which also houses the daily 100 EMA.
Meanwhile, my resistance levels are at $12.00, $15.00, and $17.50, and my support levels are at $11.00, $10,00, and $8.00.
Total Market Capitalization: $1.76 trillion
Chainlink Market Capitalization: $5.3 billion
Chainlink Dominance: 0.30%
Market Rank: #25
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