Chainlink

Rekt

<p>Chainlink remains stuck bouncing between key support and resistance levels, <a href="https://twitter.com/rektcapital/status/1709228452346237281?t=iEE7YKki8DmimLx3YxSteA&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">according</a> to analyst Rekt Capital, creating uncertainty around ideal accumulation strategies.</p>
<p>In a potential worst-case scenario, Rekt outlines how Link could continue directionless rangebound action before revisiting the ~$5.50 zone, which aligns with macro-downtrend support.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="688" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-1024x688.png" alt="" class="wp-image-348477" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-1024x688.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-300x201.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-767x515.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-1536x1032.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-2048x1375.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-223x150.png 223w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-100x67.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-521x350.png 521w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74-788x529.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-74.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>This raises the dilemma of whether investors should anticipate lower levels before building positions. Trying to time perfectly could mean missing the upside if range resistance gives way. But buying near $8 while Link bleeds lower also carries risks.</p>
<p>The crux is determining whether Chainlink’s strong fundamentals can override weakening macro trends. Its pivotal role in an expanding Web3 ecosystem may spark a breakout despite Bitcoin’s bear market. Still, deeply oversold conditions could lead to a final capitulation-like washout.</p>
<p>For conservative investors, a measured approach of partial accumulation combined with limit buy orders at deeper levels may be prudent. But for advocates who remain highly convicted of Link’s long-term utility, its currently lagging price could offer an opportunity.</p>
<p>Of course, attempting to predict the murky bottoms of a bear market is generally ill-advised. What is certain is that Chainlink remains stuck between a rock and a hard place until decisive movements materialize.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/chainlink-price-stuck-in-limbo-as-macro-trends-weigh-should-investors-wait-for-link-to-dump/">Chainlink Price Stuck in Limbo as Macro Trends Weigh, Should Investors Wait for LINK to Dump?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Chainlink Price Stuck in Limbo as Macro Trends Weigh, Should Investors Wait for LINK to Dump?

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