Analyst Predicts ChainLink (LINK) Rally To $13 Could Result In 45% Price Correction, Here’s Why

Analyst Predicts ChainLink (LINK) Rally To $13 Could Result In 45% Price Correction, Here’s Why


The decentralized oracle network ChainLink and its native token, LINK, have staged a price recovery amid the broader cryptocurrency market’s bounce from a recent significant correction. 

Despite experiencing a 16% price retracement over the past month, LINK has regained its stronghold, rising 5% to $13 in the past 24 hours after hitting a six-month low of $11 on Friday. Still, cautionary signals have emerged that caught the attention of crypto expert Ali Martinez. 

Bearish Signals For ChainLink 

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In a recent social media post, Martinez raised concerns about a pattern visible on LINK’s daily chart, suggesting the potential for a substantial price correction ahead. 

Specifically, the analyst highlighted a possible retest of the neckline of the head-and-shoulders pattern during the recent upswing to $13. 

According to

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