Should Chainlink [LINK] holders expect a trend reversal with the new updates?

LINK’s RSI and stochastic were oversold. Metrics were supportive of a price hike, but indicators suggested otherwise. Chainlink [LINK] has not been performing well on the price front, the credit for which goes to the external market conditions. According to CoinMarketCap, LINK decreased by 3.45% and 2.9% daily and weekly, respectively. At press time, it […]

also announced that it was finally live on Arbitrum mainnet. With this new integration, Arbitrum developers will now be able to build fully automated dApps that are decentralized end-to-end., Niki Ariyasinghe, Head of Blockchain Partnerships at Chainlink Labs, said, “We’re excited to support the Arbitrum ecosystem with the native integration of Chainlink Automation, enabling developers to build highly scalable and low-cost smart contract applications that are automated end-to-end.

The Bollinger Band suggested that LINK’s price was in a squeezed zone, reducing the chances of a sudden uptrend. The MACD displayed a bearish crossover. LINK’s Chaikin Money Flow also registered a downtick, further decreasing the chance of a northbound breakout anytime soon.Subscribe to get it daily in your inbox.

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