Chainlink (LINK): Price Analysis July 29, 2022

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Let’s deepen Price trend of Chainlink (LINK)one of the most popular cryptocurrencies of recent times, which we continue to talk about, not only for the characteristics related to the ecosystem, but also for the variations that the token shows in its graphic reference.

Last month definitely not the best, with many cryptocurrencies experiencing steep declines and showing a timid recovery recently. At the time of writing, it is actually following an average rally trend with much higher odds than the bearish moves seen on the morning of July 28th.

What’s happening with Chainlink? Have concerns about the steep declines of recent weeks have given way to a more optimistic mood in the market? Given that bitcoin and ethereum are still in a very volatile phase, it is difficult to determine whether the cryptocurrency sector will recover or not.

Before we get into the details, remember that you can always keep them Chain value (LINK) Use the real-time charts offered by the best cryptocurrency brokers such as eToro: a broker with years of experience that still allows you to start from a practically unlimited demo account.

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Chainlink (LINK): Trend on the 24-hour chart

In the past 7 days, the price of Chainlink suffered a sharp depreciation, taking the value of the cryptocurrency from around $ 7.22 on July 22, 2022 to shares worth $ 6.14 on July 26. A decline that had disappointed the hopes of new growth.

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The shooting, which was not long in coming, arrived in the early hours of July 27, 2022 CONNECT abruptlyfirst above the $ 6.25 per unit line, then above the $ 6.50 line.

New trusts, had allowed a $ 6.75 breakout, also breaking the $ 7 support on July 28, 2022. At the time of writing, you can see a LINK token with a price tag of around $ 7.20. Based on the data offered by professional platforms such as CoinGecko, it shows us a recovery in 7 days of 5%.

Staring at 24 hour chart, the change is more like + 6.7%. The cryptocurrency holds the 26th place in the overall market capitalization ranking with a value of $ 3,364,366,646 as of this writing.

Well, even the Level 7 dollars have passedExperts continue to study the token’s trend for a hold above support or a possible rally to lower rates following corrections.

We keep remembering updated token data:

  • 24 hour trading volume of $ 653.708.198;
  • Supply of circulating tokens of 467,099,986 coins;
  • Dominance of cryptocurrency over the entire cryptocurrency industry by 0.294%;
  • The all-time (current) high stopped at $ 52.70 on May 10, 2021;
  • The all-time (current) low stopped on November 29, 2017 at $ 0.148183.

conclusion

If you want to study cryptocurrency independently, you can use one of the main ones analysis tools provided by the best online cryptocurrency trading platforms. With them, you can access convenient real-time charts, which allow you to see instant changes in asset value and the evolution of the token in the market.

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