For over a period of 30 days, Chainlink’s token (LINK), has seen a steady increase in buying pressure, but recently lost momentum over the last few days. Is this loss in momentum significant enough to crash this market? Let’s find out.

As opposed to growing at a rate in excess of 100% — like Crypto.com Chain (CRO) or Groestlcoin (GRS); Chainlink’s growth has been predictably stable and unaltered by hype marketing or pump and dump groups as of late.

To analyze the changes in price movements and market trends, we will plot a chart between 11th February 2019 to the 11th of March 2019. The time interval is set to 30 minutes, a trend channel parallelogram is drawn and two indicators are plotted; a Moving Average Convergence Divergence (MACD) graph and an Accumulation & Distribution zone (A/D) graph.

In an A/D graph, a low negative number with a high volume signifies a strong selling pressure. We can also observe that at present the MACD histogram is indicating that a bearish cycle is just about to set in. However, the low volume suggests it might not be a trending pattern.

These factors considered, we can now interpret the growth rate of the last 30 days where the prices have grown at a sustainable rate of 16.41%. The bear cycle may push the prices down to 0.46 USD/LINK ranges before circling back to 0.52 USD/LINK — a likely target that could be reached within the next 30 days.

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