Chainlink (LINK) remains a pivotal player in the evolving DeFi space, owing to its robust oracle network and increasing adoption.
LINK Key Statistics
Current LINK price stands at $19 with a market cap of $12.5 billion. The 24-hour trading volume reached $390 million and the circulating supply is 638 million LINK. The total supply accounts for 1 billion LINK, with a CoinMarketCap ranking at #15.
LINK/USD Market Analysis
The LINK/USD market exhibits a bearish sentiment as the price remains at $19, significantly below previous highs. Resistance levels are at $21, $25, $30 while support is pegged at $18, $16, and $13.5. The RSI indicator at 41 indicates no immediate signs of oversold conditions, yet retains a downward trend.
LINK/BTC Performance Insight
LINK/BTC prices slid 0.84% to 0.0002118, suggesting mounting selling pressure. Support is marked at 0.0002028, while resistance is at 0.0002278. Analyst SherifDefi notes that LINK remains a crucial infrastructure component of DeFi, supporting its long-term potential.
Despite the prevailing bearish market sentiment, Chainlink's fundamental strengths and expanding ecosystem could serve as a basis for improved future prospects.
