Chainlink $LINK Price Prediction (Short Term)

Chainlink($LINK ) has recently broken out of its descending channel, indicating that the asset could see a trend reversal. The token was on a downward trajectory since July 20, witnessing consecutive lower highs and lower lows.

Chainlink $LINK currently faces resistance at around $7.619, with support at around $7.112. 

Moreover, if the $7.70 level is also crossed, it could face resistance around $8.45. This level was previously tested in February and may prove to be another profit-taking zone.

CAN IT FALL LOWER?

Although LINK currently seems to be going through a trend reversal, things could change if it is unable to close above $7.45. In that case, the token could fall back below $7.00, and might even slip to somewhere between $6.0 to $6.2, as this range has a lot of volume.