Analysts Expecting a Decline in Chainlink Increase

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Chainlink, a well-known project in the cryptocurrency markets, once went up to $ 20. Subsequently, the code began to decline. Analysts, on the other hand, think that the decline in the current $ 14 coin will continue.

Will Chainlink Downfall Continue?

Chainlink, which increased 10 times the level it dropped in March, had a pleasant period for its investors. However, now it is said that this period may be over. The coin, which increased to $ 20, has now dropped to $ 14. According to analysts, this decline may continue. In fact, an analyst named “Steve” says:

I look impartially, money etc. to deliberately reduce the price of LINK. i don’t buy However, I have to say what I saw when I looked at the project. What I am seeing is there is a hard correction after a big price action. I think that’s a good thing. It can take up to $ 13 to decline.

The analyst states that the critical support is at $ 8.5. But despite this, the key indicators remain bullish. In the data shared by blockchain analysis firm Santiment, it is seen that Chainlink address activity maintains a high level. These numbers are very high compared to other big altcoins.

For this reason, it is still possible to bullish about Chainlink’s long-term performance. However, this correction may continue for a while.

See Also
Down on the Horizon on Chainlink (LINK)?

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