Summary
TLDR: Chainlink (LINK) is stuck in a bearish pattern with declining active addresses and a strong sell signal, indicating a potential decline in price. Investors are not optimistic, and the downside target is $11.98, a 30% correction. However, if the halving induces bullishness, LINK could rally towards $18.73 and beyond. Always conduct your own research and consult with a professional before making financial decisions.
Key Points
1. Chainlink’s price is currently stuck in a bearish continuation pattern that could result in a considerable decline.
2. Investors are not particularly optimistic either, which could result in LINK failing any potential recovery.
3. Chainlink Investors Could Sell. Chainlink’s price is falling lower daily due to broader market conditions, and active addresses have hit a new low, indicating a lack of optimism among LINK holders.