Chainlink At Risk: Key Indicators Signal Further Losses To $12 📉
Chainlink (LINK) is experiencing increased bearish pressure, with key indicators signaling potential losses toward the $12 support level. As of now, LINK has a market cap of over $7.7 billion and is trading at around $12.82, down 3.75%. The asset is currently trading below the 100-day SMA and shows negative sentiment.
The 4-hour Relative Strength Index (RSI) has dropped below 50%, suggesting further downward movement towards $12.44. The 1-day chart also indicates a bearish trend, moving toward $12.44 support, with the 1-day RSI below 50%. Sellers remain active, contributing to the bearish pressure on LINK.
If the price breaks and closes below the $12.44 support level, it may continue downward toward $11.10 and possibly lower. Conversely, encountering resistance at $12.44 could lead to an upward move to $15.25, with further gains targeting $17.96.
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