US Adds 50K Jobs in December, Unemployment Rate Drops to 4.4%
- Job Data Release: The U.S. added 50,000 jobs in December, falling short of the 70,000 forecast, while the unemployment rate dropped from 4.6% to 4.4%, indicating labor market fragility that may influence future economic policies.
- Wage Growth Insights: Average hourly earnings rose by 3.8% in December, and despite hiring slowdowns, the acceleration in wage growth could prompt the Fed to consider interest rate cuts to stimulate economic recovery.
- Market Reaction: Despite the job data release, major cryptocurrencies showed little movement, with Bitcoin hovering around $90,955, indicating a reduced sensitivity of the market to macroeconomic data.
- Future Outlook: Investors are closely watching the upcoming Supreme Court ruling on Trump-era tariffs, as a decision to eliminate tariffs could positively impact the crypto market by lowering inflation expectations.
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Technical Analysis for LINK
Technical Sentiment Analysis for Chainlink (LINK). As of , Chainlink (LINK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for LINK 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 crypto.
Support, Resistance & Moving Averages. From a structural perspective, LINK 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 $-.
Chainlink (LINK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 6.507 | 7.278 | 8.097 | 8.868 | 9.687 | 10.458 | 11.277 |
| Fibonacci | 7.278 | 7.886 | 8.261 | 8.868 | 9.476 | 9.851 | 10.458 |
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