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What do the long-term technicals predict for Chainlink (LINK) on Saturday?

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Saturday, November 19, 2022 12:55 PM | InvestorsObservers Analysts

InvestorsObserver gives Chainlink a strong long-term technique score of 80 from his research. The proprietary rating system takes into account historical trading patterns over the past few months to a year of the token’s support and resistance levels, in addition to its position against long-term averages. The analysis helps determine if this is currently a solid investment opportunity for traders. LINK currently has a long-term technical analysis score above 80% of circulating cryptos. The long-term ranking will be most relevant for buy-and-hold type investors who seek strong and steady growth when allocating their assets. The combination of a high long-term and short-term technical score will also help portfolio managers uncover tokens that have bottomed out.

Long Term Technique - 80
InvestorsObserver gives Chainlink a long term technical rank of 80. Find out what this means for you and get the rest of the ranking on Chainlink!

Business analysis

LINK is currently -$1.2100000 (-16.49%) below its 100-day moving average price of $7.370000000 with its current price of $6.150000000. Meanwhile, Chainlink is $0.7900000 (-90.42%) above its 52-week low of $5.360000000 and $-23.13000000 (-13.14%) in below its 52-week high of $29.290000000. The current price against its moving average and 52-week highs and lows leads to a strong long-term technical score of 80. Chainlink’s long-term trading history trends suggest that traders are currently neutral on the token. Chainlink has a total market value of $3,023,886,019.62 with a high average daily volume of $1,032,719,825.27 of the currency traded over a typical 24-hour period. In the past 24 hours, LINK’s volume is below its average with $180,054,239.43 traded in total. Subclass of this token Smart contracts: A computer program designed to run automatically when predetermined conditions are met. Typically used to execute transactions quickly and automatically, with terms written directly into lines of code.

Summary

LINK’s historical trading over the past year gives it a strong long-term technical score of 80, as its price movement over this period has given investors reason to be neutral on the token over the long term. .

Click here for the full Chainlink report (LINK).

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