CandleFocus Chainlink (LINK) Bears Gain Ground as $15 Moves Further Out of Reach
2024-10-24
Author: Content Editor
The price of Chainlink (LINK) has been fluctuating between $10 and $11, despite recent developments. However, indicators suggest that bears are in control, with more selling volume than buying volume. Analysts believe LINK should be trading at $15, but it is unlikely to increase in price given the current bearish sentiment. The In/Out of Money Around Price (IOMAP) shows resistance around $12, with a significant number of addresses holding LINK tokens at that price. The daily chart also indicates resistance at $12.70, and the Exponential Moving Average (EMA) suggests a potential drop in price. If bears take a back seat, the price could rebound to $15.25, but if not, the price may drop below $10.
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