Chainlink (LINK) Nosedives 10%: Here’s Why It Could Tumble Below $10

Chainlink (LINK) Nosedives 10%: Here’s Why It Could Tumble Below $10


Chainlink (LINK) is down 10% and it broke the key $11.30 support zone against the US Dollar. The recent breakdown suggests high chances of more losses below $10.00 and $9.50.

Chainlink token price failed to clear the $13.50 resistance and declined steadily against the US dollar. The price is now trading below the key $11.30 support and the 100 simple moving average (4-hours). There was a break below a major contracting triangle with support near $11.80 on the 4-hours chart of the LINK/USD pair (data source from Kraken). The pair remains at a risk of a sharp decline below the $10.00 and $9.50 support levels in the near term. Chainlink (LINK) is Diving

After a sharp decline, chainlink (LINK) found support near the $9.20 level against the US Dollar. The price started a decent recovery wave above the $11.00 and $12.00 levels, but it failed to clear the $13.50 resistance zone.

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It even remained well below the $14.00 pivot

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