LINK Price Action Turns Cautious As Bearish Pennant Shapes Up

Conclusion

Chainlink’s price action is currently signaling a bearish outlook as it forms a pennant pattern, suggesting a potential continuation of its downward trajectory. Market sentiment remains cautious as bulls struggle to hold the line against growing bearish momentum. A breakdown from this pattern could accelerate losses, pushing LINK towards lower price zones.

However, if buyers manage to invalidate the pattern, a relief rally may be in play. Traders should closely monitor key support and resistance levels to gauge the direction of the next major price movement in Chainlink.

Disclaimer: The information provided is not trading advice. Cryptocurrency trading carries a high level of risk and may not be suitable for all investors. Always perform your own research before making any investment decisions.