Based on the latest information about Chainlink
(LINK), the current trend of this coin is struggling due to accumulation by whales and strong selling pressure from investors. On the price chart, on October 1, a "death cross" pattern appeared, a "negative signal" when the shorter EMA crossed below the longer EMA. On October 7, LINK attempted to recover, but the shorter EMA failed to cross above the longer EMA, and the negative pattern continued to hold.
In addition, based on other indicators such as whale activity and MVRV ratio, along with the EMA, it can be seen that LINK's correction may continue in the next few days.
However, whale accumulation and historical behavior suggest that LINK may be ready for a recovery as selling pressure decreases.
If the downtrend continues, LINK's price may test support levels around $9.9 and $9.3. If these support levels fail, the price may drop to $8, representing a 23.8% drop. Conversely, if the trend reverses, like As of late, the price of LINK could rise back to $11.7. If this resistance level is broken, the next target would be around $13, representing a potential upside of 23%.
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