• Chainlink’s (LINK) price has gone down in the last 24 hours to $11.24.
• The trading volume for LINK has decreased by 5% in 24 hours compared with the previous day.
• If LINK is unable maintain its $11 position, the price of LINK could fall further.

According to CoinMarketCap, Chainlink (LINK), has dropped in value over the past 24 hours to $11.24, bringing its current price to $11.24 as of this writing.

The price of LINK has fallen by 0.35% over the past 24 hours. This is in addition to a significant portion of crypto market prices, which have also experienced a decline in price during the same period. LINK’s price is down by 10.46% in the last seven days.

The trading volume for LINK has dropped in the past 24 hours compared with the previous day. It has traded at $430 million, or around 37,178,000.469 LINK, during the current price.

When it comes to market cap, LINK is ranked 25th on CoinMarketCap’s list of the biggest crypto projects. LINK’s market capital currently stands at more than $5.2 billion. It ranks just below UNUS SEED LEO, which currently has a market capital of approximately $5.3 billion. LINK ranks above FTX token (FTT), with a more than $5.2 million market cap.

LINK reaches its lowest level since 2021 (Source; CoinMarketCap).

The weekly chart of LINK/USDT shows that the price for LINK is at an all-time low. Furthermore, there is a narrowing of the distance between the 100 EMA (50) and 100 EMA (100). If the 100 EMA crosses, the price for LINK could drop further.

At the time of writing, the RSI14 stands at 37.63. There is still a possibility that LINK may be sold further before it enters into territory that has been oversold.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. This article is not intended to be used as investment advice. CoinQuora advises its users to research cryptocurrency before making any investment.

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