- LINK is currently trading at $6.64 after a 0.51% drop in price.
- A crypto analyst believes that the LINK price will soon rise.
- Bullish indicators support the analyst’s belief that the LINK price could soon rise.
Most cryptocurrencies are once again in the green after the weekend, but the same can not be said for Chainlink (LINK). According to CoinMarketCap, LINK is currently trading at $6.64 after a 0.51% drop in price over the last day. The crypto reached a high of $6.93 and a low of $6.62 over the same time period. Link is, however, still in the green by more than 8% over the last seven weeks.
The altcoin also weakened against the two biggest cryptos in the market, Bitcoin (BTC) and Ethereum (ETH), by about 0.96% and 1.47% respectively. Also in the red zone is LINK’s 24-hour trading volume which currently stands at $429,346,049 after a 0.55% decrease since yesterday.
With its market cap of $3,368,056,986, LINK is currently ranked as the 21st biggest crypto. This places the crypto right behind Cosmos (ATOM) in the 20th position and in front of UNUS SED LEO (LEO) which is ranked 22nd.
Chainlink / Tether US 1D (Source: TradingView)
A crypto analyst who goes by the name of Captain Faibik took to Twitter earlier this morning to share his own thoughts on the price of LINK. According to the post, the analyst believes that the price of LINK will soon “join the party” with an increase in its price.
Chainlink / Tether US 1D (Source: TradingView)
This could, in fact, be the case as LINK’s daily chart indicates that the crypto’s 9-EMA (Exponential Moving Average) line crossed above the 20-EMA line on January 10, and is still maintaining this bullish position.
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