Chainlink has recently seen a considerable drop of more than 7% in a single trading session, ending the bullish momentum it has experienced in the past week. The current drop in price has broken the established trend in the market, and caused panic selling, causing a drop in the investors' morale. The price is likely to test new levels of support, starting with the region near $7.230.

The indicators of various technical charts seem to support the bearish outlook of the current market situation. The MACD, RSI and CCI display tall seller bars and reduced buyer interest, reflecting the drop in the price of LINK. Support levels are seen near $0.08135 and $0.07295, while the resistance can be tested near $0.09600 and $011455.

It is important to note that LINK price is highly volatile, and any movements in the market are subject to extreme reactions in either direction. It is imperative to consider all aspects before investing in the crypto market, and cryptocurrency investments are associated with the risk of financial losses. Investors should consider the present market conditions and analyze the risks involved in the proposed investments. With proper guidance and expertise, investors can avoid average losses and reap greater profits from the market.



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