LINK price faces bearish pressure as bulls struggle to break resistance, but investors remain positive with increased trading volume.
- Bearish momentum dominates the LINK market, with the potential for a further price drop.
- Increased trading volume suggests positive sentiment despite the temporary decline.
- Technical indicators point to a potential market sell-off; caution is advised.
Bears early in the day pushed Chainlink (LINK) prices down to $7.2535. However, Bulls broke the bear rule and pushed LINK price to a 24-hour high of $7.50, where resistance was solid, leading to a 7-day low of $6.81 (support zone).
Bearish momentum remains in the LINK market at the time of writing, leading to a 2.49% drop to $7.06. If bullish momentum breaks through the 24-hour high of $7.50, the next objective for LINK might be the resistance level of $8.00; if negative momentum persists, the support level of $6.50 may be challenged.