LINK May Fall by Another 40% as Price Validates Bearish Pattern

Chainlink (LINK) started a sharp decline after forming a head and shoulders pattern (as discussed in the previous analysis). The bears are gaining strength and aiming a test of $10.20. Chainlink token price started a fresh decline after it failed to clear the $12.50 resistance against the US dollar. The price is now trading below […]

Chainlink (LINK) price is showing a bearish momentum as the market appears to be showing signs of fatigue. Chainlink price outlines bearish strides LINK/USD pair key support spotted at $8.54 Pair resistance seen at $9.26 The LINK/USD pair price slips on a downtrend as seen overnight which has been predictable overall. More so, the market also suffers a loss of 4.80% as seen in the past 24 hours and currently faces key resistance at $9.26. For now, LINK price appears to be extremely bearish with key support seen at $8.54. Related Reading: Decentraland Momentum Pushes MANA Into Consolidation....

Chainlink was bearish on its chart at the time of writing. Over the last week, the coin witnessed significant decline on its chart. Despite the 2% overnight appreciation the technical outlook of Chainlink remained negative. Fall in the market movers prices has pushed many altcoins to travel south on their charts. Prior to this, LINK was consolidating between $6.70 and $7.00 respectively. A fall in LINK’s price has caused it to travel below the $6.70 price mark. Technical outlook started to reflect a change in price direction as buying strength slightly grew in the market. Despite the....

Chainlink (LINK) is flashing bearish signals as it forms a pennant pattern, hinting at a potential continuation of its downward trajectory. After struggling to gain bullish momentum, the price remains in consolidation, with sellers keeping a tight grip on the market. If this pattern plays out, LINK could be at risk of a steep drop, with key support levels facing increased pressure. Market sentiment appears cautious, as bulls attempt to hold the line against growing bearish momentum. A breakdown from this structure might accelerate losses, pushing LINK toward lower price zones. However, if....

Chainlink (LINK) has recently shown resilience after a 35% retrace from its yearly highs, surging over 30% to test liquidity around the $23 mark. Despite this recovery, bearish sentiment continues to weigh heavily on altcoins, and Chainlink is no exception. The cryptocurrency has struggled to reclaim its local highs, raising questions about whether the recent rally has enough momentum to sustain further gains. Related Reading: Solana Sees Consistent Capital Inflows Since 2023 – Liquidity Influx Signals Growth Top analyst Ali Martinez provided a detailed technical analysis on X,....