Summary
Chainlink (LINK) price experienced a significant decline but is now looking to recover losses as investors are holding off selling to regain profits. Active addresses show that majority are at a loss, indicating potential support for price recovery. LINK needs to breach key resistance levels to continue rising, with a possible 17% increase if successful. Failure to breach could result in a drawdown. This article is for informational purposes only and not financial advice.
Key Points
1. Chainlink (LINK) price is looking to reclaim losses after validating a bearish outcome set towards mid-March.
2. LINK holders are acting bullish and refraining from selling in order to recover losses, with only 15% of active addresses currently in profit.
3. Chainlink’s price needs to breach key resistance levels at $14.62 and $15.69 to continue rising and potentially reach $17, marking a 17% increase for LINK.