{"id":536804,"date":"2023-06-07T11:30:17","date_gmt":"2023-06-07T11:30:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=536804"},"modified":"2023-06-07T10:40:27","modified_gmt":"2023-06-07T10:40:27","slug":"chainlink-bulls-must-uphold-this-critical-support-line-for-potential-8-rally","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/chainlink\/chainlink-bulls-must-uphold-this-critical-support-line-for-potential-8-rally\/","title":{"rendered":"Chainlink Bulls Must Uphold This Critical Support Line For Potential 8% Rally"},"content":{"rendered":"
At present, Chainlink (LINK) continues to witness further losses, with the altcoin experiencing a decline of nearly 7% in the past 24 hours. This depreciation has led LINK to touch its lowest point in several months, primarily driven by the overall weakness observed in the broader market.<\/p>\n
On the weekly chart, LINK has lost approximately 4% of its value. Although there has been a slight recovery from the nearest support, the technical analysis of LINK still suggests a bearish outlook. Demand and accumulation indicators have also declined on the chart.<\/p>\n
As Bitcoin begins to recover, moving back into the $26,000 range after a drop into the $25,000 zone, altcoins have also initiated their respective recovery processes. However, the sustainability of this recovery relies on the return of demand and buying confidence in the market.<\/p>\n