Why Chainlink Price Faces More Pain Amid Overvaluation Risks

Quick Summary:

Now, LINK risks dropping 48% if the market conditions do not change because the recent price rejection completed a multi-month bearish reversal pattern.

Chainlink price is in a precarious position as price action got rejected at the $12.50 mark.

The daily LINK chart reveals a multi-month head-and-shoulders pattern that breached the neckline in early August retested recently and was rejected.

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Article Details

Author / Journalist: Evans Karanja

Category: Crypto

Markets: India

Topics: LINK Price Chainlink price analysis Price Analysis Chainlink Price

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-29 @ 11:54:11 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 430 words

Reading Time: 3 minutes read

Sentences: 42 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 22296501

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 11 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 12 hours ago

Coverage Areas: India

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