Chainlink’s (LINK) outlook has taken a turn for the worse as signals of bearish continuation surface. The cryptocurrency’s price is struggling to surpass the $13.80 resistance, and if it breaks the $13.00 support, it could continue to move down. Currently, the price is showing bearish signs below the $14.00 resistance and is trading below the $13.60 level and the 100 simple moving average (4 hours). A key bearish trend line is forming, indicating resistance near $13.50. However, if the price manages to clear the $13.80 resistance zone, there is a possibility of a decent increase, with the next major resistances located near $14.00 and $14.35. On the downside, if the price fails to climb above the $13.50 resistance level, there could be a fresh decline, with initial support near $13.10 and major support near $12.80. Technical indicators, such as MACD and RSI, are currently in the bearish zone, further supporting the potential for more losses.
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Chainlink’s (LINK) Outlook Grows Bleak: Signals of Bearish Continuation Surface
