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Chainlink LINK Faces Bearish Pressure: Analyst Predicts Potential Drop to $8 Despite Strong Fundamentals
Chainlink LINK Faces Bearish Pressure: Analyst Predicts Potential Drop to $8 Despite Strong Fundamentals
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Chainlink LINK News -
Chainlink (LINK) has mirrored the broader altcoin market downturn, falling 10% over the past month. The sell-off intensified with a 3% daily drop accompanied by 42% higher trading volumes—equivalent to 7% of its circulating market cap being liquidated.
Technical analyst Ali Martinez warns of a potential 35% collapse to $8 after LINK breached critical trendline support. His chart analysis, shared with 160K followers, indicates a confirmed bearish breakout pattern. This prediction stands in contrast to Chainlink's fundamental progress, including its rapidly growing ETF ecosystem and favorable macro conditions following the Fed's third consecutive rate cut.
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