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Chainlink

Rekt

<p><strong>Renowned crypto analyst and technical expert Rekt Capital (@rektcapital) has suggested on Twitter that Chainlink’s native token ($LINK) could be bucking a long-standing downward trend within its current trading range.</strong></p> 
<p>In recent days, Chainlink has faced rejection at the red diagonal resistance and the black Range High, according to the Twitter analysis. As a consequence, $LINK is predicted to continue staying within its black-black range.</p> 
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<p>However, the widely followed trader hinted at an intriguing development. Rekt Capital <a href="https://twitter.com/rektcapital/status/1686663122768060416?s=20" target="_blank" rel="noopener noreferrer nofollow">pointed</a> out that there’s a case to argue that $LINK is actually breaking its multi-month downtrend within this range. The crypto token appears to be retesting it as support, in particular as we move into August.</p> 
<p>One significant resistance that $LINK needs to overcome is the Range High, seen by many as a major monthly hurdle. Despite this, the recent development paints an interesting picture for the future of Chainlink.</p> 
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<p>Notably, if this multi-month downtrend holds as support, it could potentially keep $LINK from dropping to lower prices within the stated range. This could prove crucial in maintaining the token’s momentum in the volatile crypto market.</p> 
<p>Rekt Capital is widely recognized for his technical analysis skills, often providing deep-dive insights into various cryptocurrencies. His comments on Chainlink underline the continuing potential of the token, even in the face of adversity.</p> 
<p>Chainlink is a decentralized oracle network that connects smart contracts on its platform to verifiable data hosted by nodes on the network. Its native cryptocurrency token, $LINK, is used to pay node operators for retrieving data for the platform.</p> 
<p>Crypto enthusiasts will be keeping a keen eye on this evolving scenario, as Chainlink may be poised to break its long-term trend within its current range.</p> 
<p>For more updates and insightful analyses, stay tuned to our cryptocurrency coverage.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/chainlink-link-breaking-multi-month-downtrend-analyst-suggests/">Chainlink (LINK) Breaking Multi-Month Downtrend, Analyst Suggests</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Chainlink (LINK) Breaking Multi-Month Downtrend, Analyst Suggests

CaptainAltcoin

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