Bears Control Chainlink as Long as It Holds Below One Crucial Level: Analyst

Bears Control Chainlink as Long as It Holds Below One Crucial Level: Analyst


Chainlink has been holding strong throughout the past few days and weeks around $13.00, with the selling pressure here stopping the cryptocurrency from seeing any intense momentum throughout the past few days and weeks.

LINK has been closely tracking Ethereum’s price action as of late, which caused it to see a sharp selloff yesterday that has since been erased by bulls.

The crypto is still stuck below its near-term resistance at $13.00, and until it can break above this level it may continue facing some consolidation in the days and weeks ahead.

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A break above this level would be significant and help spur further upside, but it may not be enough to shift its trend back into bulls’ favor.

One trader is now noting that $13.75 is the crucial level he is watching. Until it can break above this level, the cryptocurrency could see significantly further sideways trading in the days and weeks ahead.

Whether or not it can

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