The post Chainlink (LINK) Poised for 22% Price Decline, Here’s Why appeared first on Coinpedia Fintech News
Amid the ongoing confusion in the cryptocurrency market, Chainlink’s native token LINK has shown bearish price action and is poised for a decline. However, the current market sentiment remains bearish, with top assets like Bitcoin (BTC), Ethereum (ETH), and XRP also experiencing notable price declines.
This downturn is potentially influencing overall market sentiment.
Chainlink (LINK) Technical Analysis and Upcoming Levels
According to expert technical analysis, LINK appears to be forming a bearish double-top pattern on the four-hour timeframe. While this pattern is yet to be complete, the chart also shows a bearish divergence, further supporting this negative outlook.
Based on historical price momentum, if the asset closes below the $16.15 level, there is a strong possibility of a 22% decline, bringing it down to $12.75 in the coming days. A bearish divergen
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