The post Chainlink’s Failing Bullish Reversal Warns 30% Decline In May appeared first on Coinpedia Fintech News
Starting the month on a bearish note, the crypto world crashed when Changpeng Zhao received a four-month jail sentence. Amidst the crashing altcoins, Chainlink amplifies the downtrend to end April with a 31% decline in market cap.
With the altcoins sliding down the bearish slope, will Chainlink find an anchor point to halt the downfall? Or is the bearish trend crashing LINK price under $10? For a long-term perspective, check out our LINK price prediction.
Chainlink Price Performance
With an evident bearish reversal from the 38.20% Fibonacci level at $23, Chainlink fails to find a bullish anchor. The downfall cracks under the $15 psychological mark and the 23.60% Fibonacci level. Thus, the overall sentiment surrounding the LINK token is increasingly bearish.
Tradingview
In the 1W chart, the LINK price crashes under the 50W EMA and trades at $12.76 with an i
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