Chainlink Faces Bearish Outlook as Head-and-Shoulders Pattern Emerges

2025-11-14 19:01

Chainlink (LINK) is exhibiting a bearish head-and-shoulders pattern on its weekly chart, suggesting potential further declines. The cryptocurrency has fallen 43% from its August peak, now trading below critical technical indicators like the 50-week EMA and Supertrend. Whale activity has intensified, with LINK's exchange supply dropping from 288 million to 220 million in the past month. Additionally, the daily chart reveals a death cross and a breach of key support levels, further indicating bearish momentum. Open interest in LINK futures has also decreased, reflecting diminished speculative interest in the asset.

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