Chainlink Initiates the Month with a Negative Note; Lost 4% Overnight

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• Chainlink loses 4% in the last 24 hours and reached $2.15
• LINK may continue to get the selling pressure from the market

Chainlink (LINK) has upset its large base of investors as its price fell by a significant 4% over the last 24 hours. It has been through three major price variations over this period, and the range of the swings has been between 2.14 USD and 2.24 USD.

Chainlink Price Prediction:

LINK coin opened the week at 2.24513 USD, and over the next 3 hours and 12 minutes, it faced a 4.68% slump as its first variation. This swing took Chainlink’s price to 2.14 USD. Between 03:14 and 14:58 UTC, the price grew by 3.63% that pushed it to 2.21778 USD. However, this growth was not a long-standing one, and towards the closing of the day, Chainlink lost another 3.05% value and confined itself within 2.15 USD.

There has been a huge decline in the market cap of the currency as well. On the first day of December, the market cap was 758.496 million USD, and it has been down to 754.581 million USD now.

LINK’s 20 days MA stands at 2.15894 USD, and it’s 50 days MA is now at 2.15705 USD. The current value of Chainlink stands at 2.155 USD, which is 0.09% and 0.18% less than the 50 days and 20 days moving averages, respectively. According to our Chainlink Price Forecast, the coin may find the next few days with little struggle as the current value is reeling under pressure as of now.