$LINK
🚨 Chainlink Alert: Bears Gain Dominance 🐻
Chainlink is having a time right now. The price of Chainlink is, around $12.5. This is a drop. Chainlink has gone down by 16% in the month.. If we look at the whole year Chainlink has fallen by almost 55% from its highest point.
When we look at the chart of Chainlink we can see a bearish double-top formation. This means Chainlink could go down more.
People are getting rid of their LINK the amount of LINK on exchanges is going up and the total value of DeFi is down from 1.13 billion dollars to around 545 million dollars. These are signs that people do not want to buy LINK as much as they used to. The technical stuff for LINK still looks bad the MACD for LINK is bearish. The RSI, for LINK is around 38, which means the price of LINK could go down even more.
⚠️ Important threshold: $11.08
If the value of LINK goes down it could fall to between 5 and 8 dollars. This means that people who own LINK might lose than half of their money when they sell it. The price of LINK could really drop, which is a risk, for people who have LINK.
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