Chainlink has been caught in the throes of an insane uptrend over the past couple of years.

Due to a slew of announcements, integrations, and other pieces of good news regularly surrounding the project, the cryptocurrency has been able to defy the market-wide downtrend seen throughout 2019.

This extreme bullishness has carried over into 2020, with LINK now incurring parabolic momentum that allowed it to set fresh all-time highs yesterday.

In the short-term, its momentum is showing some signs of slowing as it begins facing heightened selling pressure.

Despite its immense strength, one analyst is now warning that a fractal pattern suggests downside is imminent.

He also notes that this potentially inbound dip won’t be for buying and that it could result in it seeing a strong downtrend that drags it lower in the weeks and months ahead.

Chainlink Set Fresh All-Time Highs of Nearly $18.00 Yesterday

At the time of writing, Chainlink is trading up marginally at its current price of $16.50.

Yesterday, LINK incurred another influx of buying pressure that boosted its price,…

Source link


Please enter your comment!
Please enter your name here