Altcoins News
By MikeT
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Bearish Technical Indicators for Chainlink (LINK). Technical analysis of LINK’s price suggests a bearish outlook.
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Current Price Action and Market Behavior. At the time of writing, LINK is trading around $16.31, marking a 4.5% drop in the last 24 hours.
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Traders Favoring the Bearish Side. Data from on-chain analytics platform Coinglass highlights that many intraday traders are leaning…
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Conclusion: Bearish Outlook for Chainlink. Overall, Chainlink’s LINK token appears to be at risk of experiencing a 22% price decline in the…
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Chainlink’s native token, LINK, has been exhibiting bearish price action recently, following the general downtrend in the cryptocurrency market.
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Technical analysis of LINK’s price suggests a bearish outlook. A double-top pattern is forming on the four-hour chart, which is often associated with a trend reversal.
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If LINK’s price closes below the key level of $16.15, there is a strong likelihood of a 22% price drop, potentially taking LINK down to $12.75 in the near term.
The Currency Analytics
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