As Chainlink tumbles below $7.35, what will be the next bearish target
The short-term outlook was bearish for Chainlink, and traders can look to ride the momentum further south
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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Chainlink showed bearish price action and could offer a short setup.
The weakness of Bitcoin in recent days could aid the push from sellers.
Chainlink [LINK] had a strong bullish impulse move on 20 July, breaking past a previous local high. However, the price ran into a higher timeframe resistance at the $8.2-$8.8 area. The start of August saw the bulls fight hard to hold on to the $7.4 support zone.
Read Chainlink’s [LINK] Price Prediction 2023-24
The wave of selling in the past 24 hours forced the buyers back. It also showed that another move downward was imminent. Where should short traders look to enter?
The bullish order block was flipped bearish, paving the way for LINK to descend further
The bullish order block was flipped bearish, paving the way for LINK to descend further
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