Chainlink Price Under Pressure, Yet Fundamentals Remain Strong
- Price Trend Analysis: Chainlink is currently priced at $11.81, down 2.2% from the previous day, consistently facing pressure below key moving averages, indicating weakening momentum that could lead to testing deeper support levels.
- Trading Activity Changes: Despite daily trading volume surging to $487 million, a 213% increase, the derivatives market's open interest fell 2% to $530 million, suggesting traders are primarily unwinding positions rather than adding new ones, reflecting cautious market sentiment.
- Fundamentals Continue to Grow: Chainlink maintains over 70% control of the decentralized oracle market and is expanding in both traditional and crypto finance, securing a total value exceeding $47 billion, highlighting its significance and potential in the market.
- Technical Indicator Analysis: LINK remains below its 50-day and 100-day moving averages, with the relative strength index below neutral, necessitating close attention to the $11.80 to $12.00 support range in the short term to determine future price direction.
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Technical Analysis for ONDO
Technical Sentiment Analysis for Ondo (ONDO) As of , Ondo (ONDO) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ONDO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, ONDO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ondo (ONDO) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0899 | 0.146 | 0.208 | 0.264 | 0.327 | 0.383 | 0.446 |
| Fibonacci | 0.146 | 0.191 | 0.219 | 0.264 | 0.31 | 0.338 | 0.383 |
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