March 4, 2024

Analysts Predict ChainLink's Strong Price Correction

Analysts Predict ChainLink's Strong Price Correction

After reaching a high just above the $ 20 mark last week, ChainLink's price experienced a significant pullback.

In the last 24 hours alone, Link's price has droppedby 15%. As indicated in our forecast, the first two support levels were $ 16 and $ 14. Link is currently trading just above $ 14.10. The bears have already tried to break through the $ 14 several times, and some analysts believe that the situation could worsen significantly.

Analysts Predict ChainLink's Strong Price Correction

Popular trader Steve is confident that a pullback to $ 13 is inevitable. On his Twitter, he wrote:

The facts are that the token is VERY stronghas grown up and is now rolling back. And this is good. However, I believe the rollback is not over. A simple TA shows that we do not have support levels on the daily chart to test. Our “major support” is located around $ 8.50 (0.618 Fib). The minimum pullback I expect will be up to $ 13.

In the Coinmarketcap Link ranking, it is currently ranked 6th, behind Bitcoin Cash.

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