Chainlink (LINK) has declined from $10.80 to $9.60, experiencing sustained short-term bearish pressure characterized by lower highs and lower lows. Analyst Crypto Patel highlights a potential bullish structure shift, with upside liquidity targets at $10.86 and $11.85, contingent on confirmation. Despite early stabilization signals, a breakdown below $9.60 could lead to further declines toward $9.30. Between May 9 and May 17, LINK traded under mixed conditions, with significant selloffs recorded between May 13 and May 16. The sharpest decline occurred on May 16, when LINK fell from $10.10 to below $9.70. Indicators such as the RSI and MACD suggest early recovery signals, but the broader momentum remains bearish. Immediate resistance levels are at $9.90–$10.00 and $10.20, with a potential breakout extending movement toward $10.60.
Chainlink Dips to $9.60 Amid Persistent Bearish Pressure
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