Chainlink has dropped slightly in the market today as bears seized control of its price. LINK’s current price depicts a loss of 87.7% from its all-time high of $52.88 on May 10, 2021.
The asset has been fluctuating between the $6 and $7 price levels since the beginning of May and is currently at the $6 price level. LINK is also recording a sideways trend on the daily chart, and its trading volume has also tanked by over 32%.
The recent price action is primarily influenced by macroeconomic factors such as inflation, regulatory laws and investor sentiment.
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LINK Price Analysis
LINK is in a sideways trend today, forming a red candle on the daily chart. It is trading below its 50-day and 200-Simple Moving Averages
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