Chainlink (LINK) has undergone a strong bounce since the lows under $8 it set in September. The leading cryptocurrency currently trades for a price around $11, almost 50% above those lows.
Despite this recovery, not everyone thinks it will last. An eerie fractal suggests that the cryptocurrency could drop towards $6 in the coming weeks.
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One crypto-asset analyst recently compared Bitcoin’s price action in 2017 and 2018 to LINK’s price action over recent months. After lining both charts, he found that LINK’s price action is following that of BTC’s to a T, with both periods having a similar market structure.
This fractal analysis predicts that LINK is likely to plunge into November, bottom in mid-November, then recovery in December. If the fractal plays out perfectly, Chainlink will fall under $6 come American Thanksgiving.