#Chainlink price prediction shows the asset is in a bearish continuation pattern, known as a Bear Pennant. This indicates that LINK may continue its downtrend after a period of consolidation.#BinanceSquareCreatorAward
If the price follows through with the Bear Pennant pattern, LINK will likely find support around the $10.49 level, but a break below this could push the price toward the next support near $9.00. Below that, a long-term support target could be set around $5.50, based on the flagpoleâs projected downward height. This represents a 47% drop from the current price.#LINKđ„đ„đ„
All the exponential moving averages (EMAs) are sloping and expanding downward, confirming the bearish sentiment. Chainlink price is also trading below all of them, reinforcing the downtrend.
If the LINK price breaks above $10.85, this could invalidate the Bear Pennant and bearish thesis. LINK would test the next major resistance at $12.04 and finally at $14.50
