Looking at recent price action, a warning about Chainlink (LINK) was recently issued by a renowned crypto expert. Analyst Ali Martinez highlighted in a technical analysis that he predicted the LINK token price to drop soon.

“Beware of Chainlink! The recent rally to $13 may have been a retest of the neckline of the head and shoulders pattern,” the analyst wrote while sharing another analysis in which he revealed that Chainlink was facing a potential 45% price correction if its price were to fall below $12.70.

At the time of publication, Chainlink’s price is trading at $13.38, up 4.8% in the last 24 hours. Over the last seven days, the cryptocurrency’s price has fallen by 6.6%.

Chainlink (LINK) trading volume is $458,365,453 in the last 24 hours, representing a 52.80% increase compared to the previous day, signaling a recent surge in market activity.

According to a report shared by analyst Ali Martinez, Chainlink cryptocurrency whales snapped up over 6.2 million LINK tokens last week. The total value was approximately $76.88 million, the expert noted.

During the recent bear market, the LINK cryptocurrency experienced significant price pullbacks. In the span of seven days, the lowest price at which Chainlink traded was $11.15, reaching a high of $14.65 during this period.

Chainlink announced on July 3 that it is partnering with Fidelity International and Sygnum to provide on-chain Net Asset Value (NAV) data. The move signals a major innovation for the financial and cryptocurrency industries.

According to the official announcement, Fidelity International and Sygnum have partnered with Chainlink to provide onchain NAV data for Fidelity International’s $6.9 billion money market fund.


The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/alerta-chainlink-analista-preve-queda-no-preco-de-link/

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