LINK Facing Crucial Resistance (Again)
After initiating a promising uptrend at the beginning of July, Chainlink (LINK) is once again facing its crucial resistance at $13.
Already at the beginning of July, LINK dipped below this level after having traded above since November 2023 (except for a short dip in Jan).
Based on the chart, this is one of the most essential areas for LINK. A dip below that isn't followed by a quick reconquer can initiate more downside potential and bring the $10 level back into the game.
However, the short-term outlook is mainly bearish (see 2nd attachment). LINK dipped below the Ichimoku cloud, printed a bearish cross, and the future cloud sends bearish signals.
Let's hope LINK can invalidate the signs and bounce quickly. Nevertheless, I wouldn't bet on this for the moment.
