Chainlink’s Oversold Stochastic Readings Contrast With Weak Short-Term Trend

As of 5:41 a.m. EDT (09:41 UTC) Thursday, Oct. 29, Chainlink (LINK) traded at $11.39, down 2.92% over 24 hours, while technical readings showed weak short-term momentum and stochastic values in oversold territory. A technical snapshot taken at the same time put LINK below its seven-day, 20-day and 50-day simple moving averages and its 12- and 26-period exponential moving averages. The five averages ranged from $11.59 to $12.65, while the 200-day simple average was $10. Stochastic %K was 11.62 and %D was 9.30, both below the commonly used 20 threshold for an oversold reading. The 14-period relative strength index (RSI) was 38.12, above the conventional 30 threshold. The lower Bollinger Band stood at $11.08.

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