Will Bears Tighten the Leash on Link Price?

Chainlink (LINK) price has been quite volatile and majorly inclined towards a $2.66 price area after having mounted at $2.71. The investor community has been in a lot of despair due to the ongoing bearish trend in the crypto market. Looks like the LINK community will have to show more patience as seen from the one-day LINK price trend where the price has been moving the range of $2.68 – $2.72.

LINK Price Analysis:

Chainlink price had a bleak day on Nov 7 along with all the major coins of the market as the price kept lingering around $2.66 price area. At 12.30 UTC, the price of LINK was at a high of $2.7153. Unable to maintain due to continual bear pressure, Chainlink went down to $2.6753 at 15:30 UTC, marking a downward trend of 1.47%. The price variation continued, and the price went up at $2.7145, recovery was to the extent of 1.44%. The bears continued to exert pressure and again pushed the price downwards BY 1.59% to $2.6714 at 21:15 UTC. Towards the end of the day at 23:30 UTC, the price of LINK had a mild recovery at $2.6816, an upward movement being 0.38%.

Therefore, as per our Chainlink Predictions, the coin may have to continue to tow the bear line as the price has not been able to show any positive trend in the current crypto market volatility. Currently, investors should not despair as the crypto market volatility is expected to be short-term. Short-term investors may not have much to gain in this ongoing bearish sentiment in the market.