Chainlink Down More Than 5% Within 24 hours
Portfolio Pulse from Benzinga Insights
Chainlink (CRYPTO: LINK) has seen a price drop of 5.55% in the last 24 hours, now at $14.93, despite a 19.0% increase over the past week. The volatility is depicted by Bollinger Bands in the provided chart. Trading volume is up by 5.0%, and the circulating supply has risen by 0.29% to 556.85 million, which is 55.68% of the max supply. LINK's market cap is currently ranked #12 at $8.24 billion.
November 13, 2023 | 3:00 pm
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NEGATIVE IMPACT
Chainlink's price has decreased by 5.55% in the last 24 hours, with an increase in trading volume and circulating supply. The market cap remains strong at $8.24 billion, ranking #12.
The short-term price impact is negative due to the recent 5.55% decrease in price, which is significant for traders and investors. The increase in trading volume suggests heightened activity that could either indicate a potential rebound or further sell-offs, depending on market sentiment. The rise in circulating supply could dilute the value, but the strong market cap ranking provides some cushion. The confidence level is high due to the clear data provided on price movement, volume, and supply.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100