Chainlink Plunges 17%—Here’s the One Move That Could Spark a Stunning Comeback
Key Takeaways
Chainlink was nearing an important demand zone at $15.5. The profit-taking activity has not halted, but the metrics showed that this selling threat should reduce. Will this be enough to halt the retracement from $19.5?
Chainlink [LINK] prices have fallen 17.2% since the 28th of July. This retracement came alongside a Bitcoin [BTC] price drop of 4.9% from $119.8k to $113.6k.
However, on-chain and technical signals suggest the worst of the retracement may be over — but a bounce isn’t guaranteed just yet.
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