Chainlink's price has experienced a significant drop, falling over 31% from its highest point in December due to surging US bond yields. Technical analysis suggests that the token may continue to fall, potentially dropping below the neckline at $19.87 and reaching a weak support point at $15.65. However, there are also indications of a bullish cup and handle pattern, which could lead to a rebound and a peak at $43.75. Chainlink's fundamentals remain strong, with the introduction of a new security standard and continued market share expansion in the oracle industry. Whales are accumulating LINK tokens, and there are expectations of a spot LINK ETF approval by the SEC in the future.



Other News from Today