Chainlink $LINK
Two weeks ago, LINK broke out of a bearish pennant, a technical pattern that signals the continuation of a downtrend. Invalidating the bearish bias at that time drove LINK’s price to $12.62. #LINK🔥🔥🔥
However, later on, the altcoin’s value dropped by 19.38%, suggesting that the earlier surge was a fakeout. From the daily chart shown below, Chainlink bulls might be working toward sending the price higher. #BTC☀
Additionally, the resistance at $10.73 suggests that the cryptocurrency might fail to sustain the uptrend. If this happens, a notable pullback could be next. Going by the Fibonacci retracement indicator shown on the chart, LINK’s next target rests around $9.72.
